Vanguard Group Inc. Purchases 191,471 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Vanguard Group Inc. grew its stake in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,084,389 shares of the company's stock after purchasing an additional 191,471 shares during the period. Vanguard Group Inc. owned about 9.08% of Sprout Social worth $253,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Sprout Social by 284.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 78,385 shares of the company's stock valued at $3,910,000 after purchasing an additional 58,022 shares in the last quarter. Wellington Management Group LLP boosted its position in Sprout Social by 27.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company's stock worth $197,183,000 after buying an additional 853,127 shares during the period. Deutsche Bank AG boosted its position in Sprout Social by 206.3% during the 3rd quarter. Deutsche Bank AG now owns 69,030 shares of the company's stock worth $3,443,000 after buying an additional 46,493 shares during the period. Comerica Bank acquired a new stake in Sprout Social during the 3rd quarter worth approximately $71,000. Finally, Public Employees Retirement System of Ohio boosted its position in Sprout Social by 19.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 64,009 shares of the company's stock worth $3,193,000 after buying an additional 10,392 shares during the period.

Sprout Social Trading Down 0.6 %

Shares of NASDAQ:SPT traded down $0.36 during mid-day trading on Friday, hitting $59.71. The company had a trading volume of 444,321 shares, compared to its average volume of 557,020. The firm has a fifty day moving average price of $61.33 and a 200 day moving average price of $56.17. The company has a market capitalization of $3.36 billion, a PE ratio of -49.76 and a beta of 1.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. Sprout Social, Inc. has a one year low of $37.00 and a one year high of $68.41.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. As a group, research analysts forecast that Sprout Social, Inc. will post -1.17 EPS for the current year.

Analysts Set New Price Targets

SPT has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Sprout Social in a research report on Wednesday, February 7th. They set a "buy" rating and a $76.00 target price on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $74.00 price target on shares of Sprout Social in a report on Wednesday, February 21st. The Goldman Sachs Group raised their price target on shares of Sprout Social from $65.00 to $81.00 and gave the stock a "buy" rating in a report on Tuesday, January 23rd. Stifel Nicolaus raised their price target on shares of Sprout Social from $60.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, January 19th. Finally, Needham & Company LLC restated a "buy" rating and set a $75.00 price target on shares of Sprout Social in a report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Sprout Social presently has an average rating of "Moderate Buy" and an average target price of $71.54.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the business's stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $56.06, for a total transaction of $2,466,640.00. Following the completion of the sale, the director now owns 40,888 shares in the company, valued at approximately $2,292,181.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the business's stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $56.06, for a total transaction of $2,466,640.00. Following the completion of the sale, the director now owns 40,888 shares in the company, valued at approximately $2,292,181.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the business's stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $62.11, for a total transaction of $93,165.00. Following the sale, the chief financial officer now owns 128,822 shares of the company's stock, valued at approximately $8,001,134.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 162,200 shares of company stock worth $9,414,346. 11.93% of the stock is owned by corporate insiders.

About Sprout Social

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.