Zacks Investment Management Sells 7,608 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Zacks Investment Management reduced its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 10.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,313 shares of the company’s stock after selling 7,608 shares during the period. Zacks Investment Management owned about 0.11% of Sprout Social worth $2,006,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. US Bancorp DE raised its stake in Sprout Social by 2,392.6% in the fourth quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after buying an additional 1,627 shares during the period. KBC Group NV raised its stake in Sprout Social by 77.1% in the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after acquiring an additional 1,099 shares during the period. Yarbrough Capital LLC acquired a new stake in Sprout Social during the 4th quarter valued at $206,000. PNC Financial Services Group Inc. boosted its position in Sprout Social by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company’s stock worth $265,000 after purchasing an additional 2,533 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Sprout Social in the fourth quarter valued at $338,000.

Sprout Social Price Performance

SPT stock opened at $19.64 on Friday. The firm has a 50 day moving average of $24.42 and a 200-day moving average of $28.64. 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 has a market capitalization of $1.13 billion, a P/E ratio of -16.37 and a beta of 1.11. Sprout Social, Inc. has a 12 month low of $18.72 and a 12 month high of $53.96.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered their target price on Sprout Social from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Canaccord Genuity Group lowered their price objective 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. Needham & Company LLC reduced their target price on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Barclays decreased their price target on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group dropped their price objective on shares of Sprout Social from $29.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.77.

Insider Activity at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction on Monday, March 17th. The stock was sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the transaction, the director now owns 42,122 shares in the company, valued at approximately $1,035,358.76. The trade was a 35.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $19.90, for a total value of $334,320.00. Following the completion of the transaction, the chief executive officer now directly owns 136,575 shares of the company’s stock, valued at approximately $2,717,842.50. This represents a 10.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 125,446 shares of company stock worth $3,115,839 over the last quarter. Corporate insiders own 10.97% of the company’s stock.

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.