Sprout Social, Inc. (NASDAQ:SPT) Shares Purchased by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC raised its stake in Sprout Social, Inc. (NASDAQ:SPT) by 3.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,345 shares of the company’s stock after purchasing an additional 225 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Sprout Social were worth $451,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Ziegler Capital Management LLC lifted its holdings in shares of Sprout Social by 1.7% in the 3rd quarter. Ziegler Capital Management LLC now owns 120,543 shares of the company’s stock worth $6,013,000 after acquiring an additional 2,034 shares during the last quarter. Capital Advisory Group Advisory Services LLC acquired a new stake in shares of Sprout Social in the third quarter valued at $201,000. Harbor Capital Advisors Inc. raised its holdings in shares of Sprout Social by 4.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,334 shares of the company’s stock valued at $515,000 after buying an additional 452 shares during the period. Arcadia Investment Management Corp MI boosted its holdings in Sprout Social by 40.3% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company’s stock valued at $38,000 after acquiring an additional 220 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Sprout Social by 7.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 401,057 shares of the company’s stock valued at $20,005,000 after acquiring an additional 28,466 shares in the last quarter.

Sprout Social Stock Up 0.6 %

NASDAQ SPT opened at $51.29 on Tuesday. The firm’s fifty day moving average price is $58.76 and its 200 day moving average price is $56.90. Sprout Social, Inc. has a 12 month low of $37.00 and a 12 month high of $68.41. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. The firm had revenue of $93.58 million for the quarter, compared to analysts’ expectations of $90.76 million. Sell-side analysts anticipate that Sprout Social, Inc. will post -1.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction on Monday, April 8th. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00. Following the transaction, the chief executive officer now directly owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $56.95, for a total transaction of $318,920.00. Following the completion of the sale, the president now directly owns 198,175 shares of the company’s stock, valued at approximately $11,286,066.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. The disclosure for this sale can be found here. Insiders have sold 140,200 shares of company stock worth $8,171,958 in the last quarter. 10.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on SPT shares. The Goldman Sachs Group raised their price target on shares of Sprout Social from $65.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Stifel Nicolaus upped their price target on Sprout Social from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Piper Sandler lifted their price objective on Sprout Social from $62.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. KeyCorp initiated coverage on Sprout Social in a research report on Thursday, March 21st. They set an “overweight” rating and a $83.00 price objective for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $70.00 target price on shares of Sprout Social in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.57.

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.