Peregrine Capital Management LLC Sells 25,588 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Peregrine Capital Management LLC reduced its stake in shares of Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 15.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,233 shares of the company's stock after selling 25,588 shares during the quarter. Peregrine Capital Management LLC owned 0.25% of Sprout Social worth $8,493,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SPT. Raymond James & Associates raised its stake in Sprout Social by 5.9% during the first quarter. Raymond James & Associates now owns 25,822 shares of the company's stock worth $2,069,000 after acquiring an additional 1,428 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Sprout Social by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 434,219 shares of the company's stock valued at $34,789,000 after buying an additional 13,742 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Sprout Social by 105.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,668 shares of the company's stock valued at $213,000 after buying an additional 1,372 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Sprout Social by 56.3% in the first quarter. MetLife Investment Management LLC now owns 24,479 shares of the company's stock valued at $1,961,000 after buying an additional 8,816 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Sprout Social by 2.8% in the first quarter. Rhumbline Advisers now owns 46,537 shares of the company's stock valued at $3,729,000 after buying an additional 1,257 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on SPT shares. KeyCorp assumed coverage on Sprout Social in a research note on Thursday, March 21st. They issued an "overweight" rating and a $83.00 target price for the company. Jefferies Financial Group assumed coverage on Sprout Social in a report on Wednesday, February 7th. They issued a "buy" rating and a $76.00 price target on the stock. Piper Sandler raised their price target on Sprout Social from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Wednesday, February 21st. The Goldman Sachs Group raised their price target on Sprout Social from $65.00 to $81.00 and gave the company a "buy" rating in a report on Tuesday, January 23rd. Finally, Barclays decreased their price target on Sprout Social from $75.00 to $72.00 and set an "overweight" rating on the stock in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $71.54.

Insiders Place Their Bets

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the business's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the transaction, the chief executive officer now owns 406,636 shares of the company's stock, valued at approximately $22,983,066.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.71, for a total transaction of $89,565.00. Following the completion of the transaction, the chief financial officer now directly owns 127,322 shares in the company, valued at approximately $7,602,396.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $56.52, for a total value of $1,130,400.00. Following the transaction, the chief executive officer now owns 406,636 shares of the company's stock, valued at $22,983,066.72. The disclosure for this sale can be found here. Insiders have sold 140,200 shares of company stock valued at $8,171,958 in the last 90 days. 11.93% of the stock is currently owned by insiders.

Sprout Social Stock Down 4.2 %

Sprout Social stock traded down $2.46 during midday trading on Wednesday, reaching $55.84. The stock had a trading volume of 344,287 shares, compared to its average volume of 570,839. The firm's fifty day simple moving average is $60.17 and its 200-day simple moving average is $56.57. Sprout Social, Inc. has a 1-year low of $37.00 and a 1-year high of $68.41. The stock has a market capitalization of $3.14 billion, a P/E ratio of -46.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current 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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. The firm had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. As a group, analysts expect that Sprout Social, Inc. will post -1.17 EPS for the current fiscal year.

Sprout Social 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.