AlphaQuest LLC Sells 45,612 Shares of Sprout Social, Inc. (NASDAQ:SPT)

AlphaQuest LLC lowered its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 96.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,468 shares of the company’s stock after selling 45,612 shares during the quarter. AlphaQuest LLC’s holdings in Sprout Social were worth $45,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Amundi boosted its holdings in Sprout Social by 37.5% during the 4th quarter. Amundi now owns 34,699 shares of the company’s stock valued at $1,099,000 after acquiring an additional 9,464 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Sprout Social by 41.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company’s stock valued at $265,000 after acquiring an additional 2,533 shares during the period. Raymond James Financial Inc. purchased a new position in Sprout Social during the 4th quarter valued at $1,184,000. M&T Bank Corp boosted its holdings in Sprout Social by 52.0% during the 4th quarter. M&T Bank Corp now owns 56,157 shares of the company’s stock valued at $1,724,000 after acquiring an additional 19,213 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Sprout Social by 14.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 470,734 shares of the company’s stock valued at $14,456,000 after acquiring an additional 60,323 shares during the period.

Insider Activity

In other news, insider Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00. Following the sale, the insider now owns 27,136 shares in the company, valued at $859,397.12. This represents a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Paul Barretto sold 16,800 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $30.99, for a total value of $520,632.00. Following the completion of the sale, the chief executive officer now owns 153,375 shares in the company, valued at $4,753,091.25. The trade was a 9.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,446 shares of company stock valued at $3,823,551. Company insiders own 10.97% of the company’s stock.

Sprout Social Trading Down 0.5 %

Shares of NASDAQ:SPT opened at $25.09 on Friday. The business’s 50-day moving average is $29.62 and its 200 day moving average is $29.74. Sprout Social, Inc. has a 1 year low of $22.95 and a 1 year high of $62.34. The firm has a market capitalization of $1.45 billion, a P/E ratio of -20.91 and a beta of 1.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on SPT shares. Scotiabank lowered their target price on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Barclays lowered their target price on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Piper Sandler lowered their target price on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Morgan Stanley lowered their target price on Sprout Social from $37.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group lowered their target price on Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.85.

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.