Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,002 shares of the company’s stock after purchasing an additional 1,539 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sprout Social were worth $407,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quarry LP grew its holdings in Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after buying an additional 751 shares during the last quarter. nVerses Capital LLC boosted its stake in shares of Sprout Social by 76.5% during the second quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock valued at $107,000 after acquiring an additional 1,300 shares during the last quarter. Assetmark Inc. increased its position in Sprout Social by 27.5% during the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after purchasing an additional 801 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Sprout Social in the 2nd quarter valued at about $218,000. Finally, Entropy Technologies LP acquired a new position in Sprout Social in the 3rd quarter valued at about $265,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Oppenheimer lowered their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. KeyCorp cut shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Thursday, August 22nd. Piper Sandler reduced their price target on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research report on Friday, November 8th. Finally, Barclays reduced their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sprout Social has a consensus rating of “Hold” and a consensus price target of $45.46.

Insiders Place Their Bets

In related news, insider Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction on Monday, October 7th. The shares were sold at an average price of $28.23, for a total transaction of $564,600.00. Following the sale, the insider now owns 7,417 shares of the company’s stock, valued at $209,381.91. The trade was a 72.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Paul Barretto sold 16,800 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $28.25, for a total transaction of $474,600.00. Following the completion of the transaction, the chief executive officer now directly owns 170,175 shares of the company’s stock, valued at approximately $4,807,443.75. The trade was a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,765 shares of company stock worth $1,505,079 over the last quarter. 10.97% of the stock is owned by corporate insiders.

Sprout Social Stock Up 1.2 %

SPT opened at $32.43 on Friday. The company has a market cap of $1.86 billion, a PE ratio of -27.02 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social, Inc. has a 1 year low of $25.05 and a 1 year high of $68.41. The firm has a 50 day moving average price of $29.12 and a 200 day moving average price of $31.55.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. Sell-side analysts expect that Sprout Social, Inc. will post -0.98 earnings per share for the current 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.