Swiss National Bank Purchases 1,300 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Swiss National Bank lifted its position in Sprout Social, Inc. (NASDAQ:SPT) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,141 shares of the company’s stock after buying an additional 1,300 shares during the period. Swiss National Bank’s holdings in Sprout Social were worth $3,045,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new position in Sprout Social in the third quarter valued at about $448,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Sprout Social by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 410,411 shares of the company’s stock valued at $11,931,000 after purchasing an additional 8,028 shares in the last quarter. FMR LLC grew its position in shares of Sprout Social by 21.4% in the 3rd quarter. FMR LLC now owns 48,599 shares of the company’s stock valued at $1,413,000 after purchasing an additional 8,553 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sprout Social by 12.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,002 shares of the company’s stock worth $407,000 after purchasing an additional 1,539 shares in the last quarter. Finally, Edgestream Partners L.P. raised its holdings in Sprout Social by 362.8% during the 3rd quarter. Edgestream Partners L.P. now owns 125,742 shares of the company’s stock worth $3,655,000 after buying an additional 98,574 shares during the period.

Sprout Social Stock Performance

NASDAQ SPT opened at $24.40 on Thursday. The firm has a market capitalization of $1.41 billion, a P/E ratio of -20.33 and a beta of 1.11. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The firm’s fifty day moving average price is $29.16 and its two-hundred day moving average price is $29.63. Sprout Social, Inc. has a 1 year low of $22.95 and a 1 year high of $62.34.

Sprout Social (NASDAQ:SPT) last issued 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 firm had revenue of $107.09 million during 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%. As a group, research analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current year.

Insider Transactions at Sprout Social

In related news, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the sale, the director now owns 42,122 shares of the company’s stock, valued at approximately $1,035,358.76. The trade was a 35.95 % decrease in their position. The sale 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 stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $30.99, for a total transaction of $520,632.00. Following the completion of the transaction, the chief executive officer now directly owns 153,375 shares in the company, valued at approximately $4,753,091.25. This represents a 9.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 125,446 shares of company stock worth $3,823,551. 10.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SPT. Oppenheimer lowered their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. 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. The Goldman Sachs Group cut their price target on Sprout Social from $34.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus reduced their price objective on Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group dropped their target price on Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.85.

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.