Redwood Investments LLC Sells 120,235 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Redwood Investments LLC lowered its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 68.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,442 shares of the company's stock after selling 120,235 shares during the period. Redwood Investments LLC owned about 0.10% of Sprout Social worth $3,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming acquired a new position in Sprout Social during the second quarter worth about $29,000. Acadian Asset Management LLC acquired a new position in Sprout Social during the first quarter worth about $32,000. RiverPark Advisors LLC acquired a new position in Sprout Social during the third quarter worth about $37,000. Arcadia Investment Management Corp MI boosted its position in Sprout Social by 40.3% during the third quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company's stock worth $38,000 after acquiring an additional 220 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc acquired a new position in Sprout Social during the third quarter worth about $40,000.

Analyst Upgrades and Downgrades

SPT has been the topic of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Sprout Social from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, January 19th. The Goldman Sachs Group boosted their target price on shares of Sprout Social from $65.00 to $81.00 and gave the company a "buy" rating in a report on Tuesday, January 23rd. KeyCorp assumed coverage on shares of Sprout Social in a report on Thursday, March 21st. They issued an "overweight" rating and a $83.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $75.00 target price on shares of Sprout Social in a report on Wednesday, February 21st. Finally, Jefferies Financial Group assumed coverage on shares of Sprout Social in a report on Wednesday, February 7th. They issued a "buy" rating and a $76.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $71.54.

Sprout Social Trading Down 1.9 %

Shares of SPT stock traded down $1.11 during trading hours on Monday, hitting $58.60. The company had a trading volume of 470,299 shares, compared to its average volume of 590,185. Sprout Social, Inc. has a fifty-two week low of $37.00 and a fifty-two week high of $68.41. The company's fifty day moving average is $61.23 and its 200 day moving average is $56.27. The stock has a market capitalization of $3.30 billion, a PE ratio of -48.83 and a beta of 1.05. 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 (NASDAQ:SPT - Get Free Report) last announced its earnings results 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). Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. The business had revenue of $93.58 million for the quarter, compared to analysts' expectations of $90.76 million. Research analysts expect that Sprout Social, Inc. will post -1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $62.11, for a total value of $93,165.00. Following the sale, the chief financial officer now directly owns 128,822 shares of the company's stock, valued at approximately $8,001,134.42. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Justyn Russell Howard sold 40,000 shares of the company's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00. Following the completion of the transaction, the chief executive officer now owns 287,912 shares in the company, valued at approximately $16,802,544.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Preto Joseph Del sold 1,500 shares of the company'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 completion of the transaction, 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 three months, insiders have sold 162,200 shares of company stock valued at $9,414,346. Insiders own 11.93% of the company's stock.

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.