Voloridge Investment Management LLC Cuts Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Voloridge Investment Management LLC cut its holdings in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 476,684 shares of the company's stock after selling 97,664 shares during the quarter. Voloridge Investment Management LLC owned about 0.83% of Sprout Social worth $14,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. ArrowMark Colorado Holdings LLC raised its stake in Sprout Social by 380.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company's stock valued at $54,425,000 after purchasing an additional 1,403,549 shares during the last quarter. Norges Bank acquired a new position in shares of Sprout Social in the 4th quarter valued at $13,422,000. Dorsey Asset Management LLC raised its stake in shares of Sprout Social by 16.7% in the 4th quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company's stock valued at $70,822,000 after buying an additional 330,155 shares in the last quarter. Cadian Capital Management LP raised its stake in shares of Sprout Social by 6.1% in the 4th quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company's stock valued at $139,679,000 after buying an additional 263,267 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Sprout Social by 110.7% in the 4th quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company's stock valued at $13,947,000 after buying an additional 238,650 shares in the last quarter.

Sprout Social Stock Performance

Shares of Sprout Social stock traded up $0.18 during trading on Thursday, reaching $21.62. The company's stock had a trading volume of 122,729 shares, compared to its average volume of 630,959. The business's 50-day moving average price is $21.51 and its 200-day moving average price is $27.42. The firm has a market cap of $1.26 billion, a PE ratio of -18.01 and a beta of 1.20. Sprout Social, Inc. has a 52 week low of $18.52 and a 52 week high of $39.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.07. The company had revenue of $109.29 million during the quarter, compared to analysts' expectations of $107.63 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. Sprout Social's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 earnings per share. Equities analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

SPT has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group raised their target price on shares of Sprout Social from $34.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Scotiabank cut their price target on shares of Sprout Social from $28.00 to $25.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. Oppenheimer cut their price target on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Finally, Needham & Company LLC restated a "buy" rating and set a $32.00 target price on shares of Sprout Social in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Sprout Social presently has an average rating of "Hold" and a consensus target price of $31.69.

Insider Buying and Selling

In related news, insider Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $19.99, for a total value of $799,600.00. Following the completion of the transaction, the insider now owns 7,417 shares in the company, valued at $148,265.83. This trade represents a 84.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $19.90, for a total transaction of $334,320.00. Following the completion of the transaction, the chief executive officer now owns 136,575 shares of the company's stock, valued at approximately $2,717,842.50. This trade represents a 10.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,446 shares of company stock valued at $2,644,639 over the last quarter. 10.12% of the stock is owned by company insiders.

Sprout Social Company Profile

Sprout Social, Inc designs, develops, and operates a web-based social media management platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides cloud software for social messaging, data and workflows in a unified system of record, intelligence, and action.