Moody National Bank Trust Division Acquires Shares of 3,800 Sprout Social, Inc. (NASDAQ:SPT)

Moody National Bank Trust Division acquired a new stake in shares of Sprout Social, Inc. (NASDAQ:SPTGet Rating) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,800 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Sprout Social by 2.6% in the first quarter. Vanguard Group Inc. now owns 3,683,975 shares of the company’s stock worth $295,160,000 after acquiring an additional 93,793 shares during the period. Invesco Ltd. boosted its holdings in shares of Sprout Social by 2.3% in the first quarter. Invesco Ltd. now owns 1,827,992 shares of the company’s stock worth $146,459,000 after acquiring an additional 41,061 shares during the period. Eventide Asset Management LLC boosted its holdings in shares of Sprout Social by 5.4% in the first quarter. Eventide Asset Management LLC now owns 1,049,943 shares of the company’s stock worth $84,121,000 after acquiring an additional 54,000 shares during the period. State Street Corp boosted its stake in Sprout Social by 4.9% during the first quarter. State Street Corp now owns 946,232 shares of the company’s stock valued at $75,812,000 after buying an additional 43,965 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in Sprout Social by 3.5% during the first quarter. Baillie Gifford & Co. now owns 834,756 shares of the company’s stock valued at $66,881,000 after buying an additional 28,615 shares during the period. 92.94% of the stock is owned by institutional investors.

Sprout Social Trading Down 2.0 %

SPT opened at $66.08 on Wednesday. The business’s 50-day moving average price is $59.66 and its 200-day moving average price is $60.84. Sprout Social, Inc. has a 12 month low of $38.39 and a 12 month high of $145.42.

Sprout Social (NASDAQ:SPTGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.06). Sprout Social had a negative net margin of 18.65% and a negative return on equity of 28.60%. The business had revenue of $61.43 million for the quarter, compared to analysts’ expectations of $60.26 million. On average, equities analysts forecast that Sprout Social, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Activity at Sprout Social

In related news, President Ryan Paul Barretto sold 5,600 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $60.90, for a total transaction of $341,040.00. Following the transaction, the president now owns 347,109 shares in the company, valued at approximately $21,138,938.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of Sprout Social stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $60.90, for a total transaction of $341,040.00. Following the sale, the president now directly owns 347,109 shares of the company’s stock, valued at approximately $21,138,938.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $59.96, for a total value of $1,199,200.00. Following the sale, the chief executive officer now directly owns 244,685 shares in the company, valued at $14,671,312.60. The disclosure for this sale can be found here. Insiders have sold a total of 61,468 shares of company stock worth $3,753,343 in the last 90 days. Company insiders own 13.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays dropped their price objective on Sprout Social to $66.00 in a research note on Tuesday, August 9th. Morgan Stanley dropped their price objective on Sprout Social from $70.00 to $66.00 and set an “equal weight” rating for the company in a research note on Thursday, July 14th. Piper Sandler dropped their price objective on Sprout Social from $76.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 3rd. Canaccord Genuity Group dropped their price objective on Sprout Social from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. Finally, Robert W. Baird lowered their price target on Sprout Social to $76.00 in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Sprout Social Company Profile

(Get Rating)

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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.

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Institutional Ownership by Quarter for Sprout Social (NASDAQ:SPT)

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