Lazard Asset Management LLC Grows Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Lazard Asset Management LLC grew its stake in Sprout Social, Inc. (NASDAQ:SPTGet Rating) by 67.2% during the second quarter, Holdings Channel.com reports. The fund owned 1,572 shares of the company’s stock after acquiring an additional 632 shares during the period. Lazard Asset Management LLC’s holdings in Sprout Social were worth $91,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC grew its holdings in shares of Sprout Social by 95.3% in the second quarter. Jennison Associates LLC now owns 1,063,868 shares of the company’s stock valued at $61,779,000 after purchasing an additional 519,059 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Sprout Social by 4,899.1% in the first quarter. Victory Capital Management Inc. now owns 355,787 shares of the company’s stock valued at $28,431,000 after purchasing an additional 348,670 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Sprout Social by 97.1% in the first quarter. Renaissance Technologies LLC now owns 363,400 shares of the company’s stock valued at $29,116,000 after purchasing an additional 179,000 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Sprout Social by 21.2% in the second quarter. Baillie Gifford & Co. now owns 1,011,778 shares of the company’s stock valued at $58,754,000 after purchasing an additional 177,022 shares in the last quarter. Finally, Lisanti Capital Growth LLC grew its holdings in Sprout Social by 196.2% during the 1st quarter. Lisanti Capital Growth LLC now owns 198,801 shares of the company’s stock worth $15,928,000 after acquiring an additional 131,692 shares in the last quarter. 92.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SPT. Piper Sandler lowered their price target on shares of Sprout Social from $76.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. Canaccord Genuity Group lowered their price target on shares of Sprout Social from $75.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, August 4th. Morgan Stanley lowered their price target on shares of Sprout Social from $66.00 to $60.00 and set an “equal weight” rating for the company in a report on Friday, November 4th. Cantor Fitzgerald lowered their price target on shares of Sprout Social from $79.00 to $62.00 in a report on Friday, November 4th. Finally, Robert W. Baird boosted their price target on shares of Sprout Social from $64.00 to $76.00 and gave the stock an “outperform” rating in a report on Thursday, November 17th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.11.

Sprout Social Trading Down 0.2 %

Shares of Sprout Social stock opened at $60.48 on Thursday. The company has a fifty day simple moving average of $59.84 and a 200-day simple moving average of $57.35. Sprout Social, Inc. has a 12-month low of $38.39 and a 12-month high of $117.07. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -68.90 and a beta of 0.90.

Insider Activity

In related news, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $50.18, for a total value of $281,008.00. Following the completion of the sale, the president now owns 293,375 shares in the company, valued at approximately $14,721,557.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CTO Aaron Edward Frederick Rankin sold 4,500 shares of the company’s stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $55.00, for a total value of $247,500.00. Following the completion of the sale, the chief technology officer now owns 31,986 shares in the company, valued at approximately $1,759,230. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $50.18, for a total transaction of $281,008.00. Following the completion of the sale, the president now owns 293,375 shares of the company’s stock, valued at approximately $14,721,557.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,341 shares of company stock worth $7,445,401. Corporate insiders own 13.33% of the company’s stock.

Sprout Social Profile

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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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