Teachers Retirement System of The State of Kentucky Decreases Position in Sprout Social, Inc. (NASDAQ:SPT)

Teachers Retirement System of The State of Kentucky decreased its position in Sprout Social, Inc. (NASDAQ:SPT - Free Report) by 20.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,890 shares of the company's stock after selling 20,314 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.14% of Sprout Social worth $2,392,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SPT. Norges Bank bought a new position in shares of Sprout Social in the fourth quarter worth approximately $13,422,000. JPMorgan Chase & Co. raised its position in shares of Sprout Social by 324.0% during the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company's stock valued at $11,714,000 after buying an additional 307,906 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company's stock worth $34,868,000 after buying an additional 200,190 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Sprout Social by 24.4% during the fourth quarter. First Trust Advisors LP now owns 834,093 shares of the company's stock worth $25,615,000 after acquiring an additional 163,788 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Sprout Social by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company's stock valued at $180,764,000 after acquiring an additional 141,141 shares in the last quarter.

Wall Street Analyst Weigh In

SPT has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of Sprout Social from $34.00 to $42.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Barclays cut their price target on Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Piper Sandler decreased their price objective on Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus cut their target price on shares of Sprout Social from $45.00 to $34.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, Scotiabank decreased 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 note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $32.15.

Insider Buying and Selling

In other news, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $19.42, for a total transaction of $97,100.00. Following the transaction, the director now owns 25,665 shares in the company, valued at approximately $498,414.30. This trade represents a 16.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $19.90, for a total transaction of $334,320.00. Following the completion of the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,446 shares of company stock valued at $3,115,839 in the last 90 days. Company insiders own 10.12% of the company's stock.

Sprout Social Trading Down 1.7 %

Sprout Social stock traded down $0.37 during midday trading on Wednesday, reaching $21.01. The stock had a trading volume of 85,946 shares, compared to its average volume of 749,436. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -17.47 and a beta of 1.11. Sprout Social, Inc. has a 52-week low of $18.52 and a 52-week high of $51.86. The company has a fifty day moving average of $22.95 and a 200 day moving average of $28.24.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The business had revenue of $107.09 million during the quarter, compared to analysts' expectations of $106.74 million. On average, analysts anticipate that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

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.