Sprout Social, Inc. (NASDAQ:SPT) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its holdings in Sprout Social, Inc. (NASDAQ:SPTGet Rating) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,960 shares of the company’s stock after selling 1,098 shares during the period. Truist Financial Corp owned about 0.07% of Sprout Social worth $2,243,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. First Horizon Advisors Inc. raised its holdings in shares of Sprout Social by 433.7% during the second quarter. First Horizon Advisors Inc. now owns 443 shares of the company’s stock valued at $25,000 after acquiring an additional 360 shares during the period. Wipfli Financial Advisors LLC acquired a new position in Sprout Social in the 3rd quarter valued at approximately $28,000. CWM LLC increased its stake 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 buying an additional 253 shares during the period. Assetmark Inc. increased its stake in Sprout Social by 138.9% in the 2nd quarter. Assetmark Inc. now owns 497 shares of the company’s stock valued at $29,000 after buying an additional 289 shares during the period. Finally, Captrust Financial Advisors increased its stake in Sprout Social by 941.1% in the 2nd quarter. Captrust Financial Advisors now owns 760 shares of the company’s stock valued at $44,000 after buying an additional 687 shares during the period. Institutional investors and hedge funds own 86.34% of the company’s stock.

Sprout Social Trading Down 2.5 %

NASDAQ SPT opened at $57.82 on Monday. The company has a fifty day simple moving average of $58.46 and a 200 day simple moving average of $59.10. The company has a market cap of $3.17 billion, a P/E ratio of -65.70 and a beta of 0.88. Sprout Social, Inc. has a 1 year low of $38.39 and a 1 year high of $85.99.

Sprout Social (NASDAQ:SPTGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Sprout Social had a negative net margin of 20.30% and a negative return on equity of 33.90%. The company had revenue of $65.31 million during the quarter, compared to the consensus estimate of $64.99 million. Equities research analysts forecast that Sprout Social, Inc. will post -0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on SPT. Barclays dropped their price objective on shares of Sprout Social from $70.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, November 4th. Morgan Stanley upped their price objective on shares of Sprout Social from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 13th. KeyCorp dropped their price objective on shares of Sprout Social from $75.00 to $60.00 and set an “overweight” rating on the stock in a research note 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 research report on Thursday, November 17th. Finally, Cantor Fitzgerald decreased their target price on shares of Sprout Social from $79.00 to $62.00 in a research report on Friday, November 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Sprout Social has a consensus rating of “Moderate Buy” and an average price target of $70.44.

Insider Buying and Selling

In related news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction dated 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 in the company, valued at approximately $14,721,557.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sprout Social news, CFO Preto Joseph Del sold 505 shares of the firm’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $56.48, for a total value of $28,522.40. Following the completion of the sale, the chief financial officer now owns 119,012 shares in the company, valued at approximately $6,721,797.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Ryan Paul Barretto sold 5,600 shares of the firm’s stock in a transaction dated 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. Insiders sold 88,676 shares of company stock worth $5,269,330 in the last quarter. 13.33% of the stock is owned by corporate insiders.

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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