Brighton Jones LLC Cuts Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Brighton Jones LLC decreased its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 56.6% in the third quarter, HoldingsChannel reports. The fund owned 7,318 shares of the company’s stock after selling 9,534 shares during the quarter. Brighton Jones LLC’s holdings in Sprout Social were worth $213,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Diversified Trust Co boosted its position in shares of Sprout Social by 6.4% in the 1st quarter. Diversified Trust Co now owns 14,207 shares of the company’s stock worth $848,000 after purchasing an additional 852 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Sprout Social by 2.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 334,661 shares of the company’s stock worth $19,983,000 after acquiring an additional 7,194 shares in the last quarter. Wasatch Advisors LP grew its stake in shares of Sprout Social by 2.5% during the first quarter. Wasatch Advisors LP now owns 1,765,591 shares of the company’s stock worth $105,423,000 after acquiring an additional 43,262 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Sprout Social during the first quarter worth about $27,000. Finally, Jennison Associates LLC increased its holdings in shares of Sprout Social by 17.0% during the first quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after acquiring an additional 311,146 shares in the last quarter.

Sprout Social Price Performance

NASDAQ:SPT opened at $26.81 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50 day moving average price of $29.10 and a 200-day moving average price of $34.20. Sprout Social, Inc. has a 1-year low of $25.05 and a 1-year high of $68.41. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -21.45 and a beta of 0.97.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The business had revenue of $99.40 million during the quarter, compared to the consensus estimate of $98.70 million. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. The company’s revenue was up 25.3% compared to the same quarter last year. Equities research analysts forecast that Sprout Social, Inc. will post -0.9 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $31.02, for a total value of $46,530.00. Following the completion of the sale, the chief financial officer now directly owns 164,124 shares in the company, valued at $5,091,126.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $28.23, for a total value of $564,600.00. Following the sale, the insider now directly owns 7,417 shares in the company, valued at approximately $209,381.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $31.02, for a total value of $46,530.00. Following the transaction, the chief financial officer now directly owns 164,124 shares of the company’s stock, valued at $5,091,126.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,882 shares of company stock worth $2,570,471. 10.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SPT has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research note on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $46.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. Oppenheimer lowered their price target on Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday. Robert W. Baird increased their price objective on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, KeyCorp downgraded Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Sprout Social has a consensus rating of “Hold” and a consensus price target of $48.00.

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.