California Public Employees Retirement System Sells 7,494 Shares of Sprout Social, Inc. (NASDAQ:SPT)

California Public Employees Retirement System reduced its stake in Sprout Social, Inc. (NASDAQ:SPTGet Rating) by 8.2% during the second quarter, HoldingsChannel.com reports. The fund owned 84,209 shares of the company’s stock after selling 7,494 shares during the quarter. California Public Employees Retirement System’s holdings in Sprout Social were worth $4,890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its holdings in Sprout Social by 7.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 2,432 shares of the company’s stock valued at $141,000 after acquiring an additional 175 shares during the last quarter. CWM LLC increased its holdings in Sprout Social by 109.1% in the 2nd quarter. CWM LLC now owns 485 shares of the company’s stock valued at $28,000 after acquiring an additional 253 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Sprout Social by 138.9% in the 2nd quarter. Assetmark Inc. now owns 497 shares of the company’s stock worth $29,000 after buying an additional 289 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Sprout Social by 1.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 32,178 shares of the company’s stock worth $2,578,000 after buying an additional 331 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Sprout Social by 433.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 443 shares of the company’s stock worth $25,000 after buying an additional 360 shares during the last quarter. 92.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, CTO Aaron Edward Frederick Rankin sold 37,200 shares of the business’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $65.83, for a total value of $2,448,876.00. Following the completion of the sale, the chief technology officer now directly owns 31,986 shares of the company’s stock, valued at approximately $2,105,638.38. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Sprout Social news, Director Karen Walker sold 8,500 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $59.11, for a total value of $502,435.00. Following the completion of the sale, the director now directly owns 55,558 shares of the company’s stock, valued at approximately $3,284,033.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Aaron Edward Frederick Rankin sold 37,200 shares of the business’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $65.83, for a total transaction of $2,448,876.00. Following the completion of the sale, the chief technology officer now directly owns 31,986 shares of the company’s stock, valued at $2,105,638.38. The disclosure for this sale can be found here. Insiders sold a total of 123,341 shares of company stock valued at $7,445,401 in the last three months. Company insiders own 13.33% of the company’s stock.

Analyst Ratings Changes

SPT has been the topic of a number of research reports. KeyCorp reduced their target price on shares of Sprout Social from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, November 4th. Robert W. Baird boosted their target price 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. Canaccord Genuity Group reduced their target price on shares of Sprout Social from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. Piper Sandler reduced their target price on shares of Sprout Social from $76.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 3rd. Finally, Barclays reduced their target price on shares of Sprout Social from $70.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, November 4th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.11.

Sprout Social Trading Down 0.2 %

SPT stock opened at $60.48 on Friday. Sprout Social, Inc. has a 12 month low of $38.39 and a 12 month high of $117.07. The company has a 50-day moving average price of $59.81 and a 200 day moving average price of $57.37. The stock has a market cap of $3.32 billion, a PE ratio of -68.73 and a beta of 0.90.

About Sprout Social

(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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