Balyasny Asset Management L.P. Sells 63,105 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Balyasny Asset Management L.P. lessened its holdings in shares of Sprout Social, Inc. (NASDAQ:SPT) by 62.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,420 shares of the company’s stock after selling 63,105 shares during the period. Balyasny Asset Management L.P.’s holdings in Sprout Social were worth $1,149,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SPT. US Bancorp DE boosted its holdings in shares of Sprout Social by 2,392.6% during the 4th 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 in the last quarter. KBC Group NV raised its position in shares of Sprout Social by 77.1% in the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after purchasing an additional 1,099 shares during the last quarter. Yarbrough Capital LLC purchased a new position in shares of Sprout Social in the 4th quarter worth about $206,000. PNC Financial Services Group Inc. raised its position in shares of Sprout Social by 41.6% in the 4th 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 last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Sprout Social in the 4th quarter worth about $338,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SPT shares. Canaccord Genuity Group lowered their price target on Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Jefferies Financial Group lifted their price target on Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. The Goldman Sachs Group lowered their price target on Sprout Social from $29.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Scotiabank lowered their price target on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Finally, Needham & Company LLC lowered their price target on Sprout Social from $55.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Sprout Social presently has a consensus rating of “Hold” and a consensus price target of $31.69.

Insider Activity

In other news, CEO Ryan Paul Barretto sold 16,800 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $19.90, for a total transaction of $334,320.00. Following the completion of the sale, the chief executive officer now owns 136,575 shares of the company’s stock, valued at $2,717,842.50. This represents a 10.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the company’s 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 sale, the director now directly owns 42,122 shares of the company’s stock, valued at $1,035,358.76. The trade was a 35.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,446 shares of company stock valued at $2,644,639 in the last quarter. 10.12% of the stock is currently owned by insiders.

Sprout Social Price Performance

Shares of NASDAQ:SPT opened at $24.38 on Wednesday. Sprout Social, Inc. has a fifty-two week low of $18.52 and a fifty-two week high of $39.75. The business has a 50-day simple moving average of $21.93 and a two-hundred day simple moving average of $27.83. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -20.32 and a beta of 1.20.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Thursday, May 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The business had revenue of $109.29 million during the quarter, compared to analyst estimates of $107.63 million. During the same quarter in the previous year, the firm earned $0.10 EPS. Sprout Social’s revenue was up 12.9% on a year-over-year basis. On average, analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

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.