Sprout Social, Inc. (NASDAQ:SPT) Shares Acquired by Peregrine Capital Management LLC

Peregrine Capital Management LLC lifted its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,702 shares of the company’s stock after acquiring an additional 3,213 shares during the period. Peregrine Capital Management LLC owned about 0.30% of Sprout Social worth $5,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SPT. Wellington Management Group LLP grew its stake in Sprout Social by 16.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after buying an additional 519,406 shares during the last quarter. ArrowMark Colorado Holdings LLC bought a new position in Sprout Social during the 3rd quarter worth $10,717,000. JPMorgan Chase & Co. grew its stake in Sprout Social by 324.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock worth $11,714,000 after buying an additional 307,906 shares during the last quarter. Principal Financial Group Inc. grew its stake in Sprout Social by 20.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after buying an additional 200,190 shares during the last quarter. Finally, Emerald Advisers LLC grew its stake in Sprout Social by 116.0% during the 3rd quarter. Emerald Advisers LLC now owns 263,041 shares of the company’s stock worth $7,647,000 after buying an additional 141,252 shares during the last quarter.

Insider Activity at Sprout Social

In related news, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $30.26, for a total transaction of $151,300.00. Following the completion of the transaction, the director now owns 30,665 shares of the company’s stock, valued at $927,922.90. This trade represents a 14.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Paul Barretto sold 16,800 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $30.99, for a total value of $520,632.00. Following the sale, the chief executive officer now directly owns 153,375 shares of the company’s stock, 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. Insiders sold 120,265 shares of company stock valued at $3,837,006 over the last 90 days. 10.97% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler lowered their price objective on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Jefferies Financial Group upped their price objective on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Scotiabank started coverage on Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a research note on Wednesday, January 15th. Finally, Morgan Stanley increased their price target on Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.58.

Sprout Social Trading Down 3.8 %

Shares of SPT stock opened at $29.61 on Thursday. The stock has a 50-day simple moving average of $32.37 and a 200 day simple moving average of $30.64. Sprout Social, Inc. has a fifty-two week low of $25.05 and a fifty-two week high of $67.33. The stock has a market capitalization of $1.70 billion, a P/E ratio of -24.67 and a beta of 1.06. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social Company 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.