85,073 Shares in Sprout Social, Inc. (NASDAQ:SPT) Purchased by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can purchased a new position in Sprout Social, Inc. (NASDAQ:SPTGet Rating) during the third quarter, Holdings Channel.com reports. The firm purchased 85,073 shares of the company’s stock, valued at approximately $5,162,000.

A number of other institutional investors have also recently bought and sold shares of SPT. Jennison Associates LLC increased its stake in Sprout Social by 95.3% in the 2nd quarter. Jennison Associates LLC now owns 1,063,868 shares of the company’s stock worth $61,779,000 after purchasing an additional 519,059 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Sprout Social by 371.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 510,231 shares of the company’s stock worth $29,629,000 after acquiring an additional 401,901 shares during the period. Driehaus Capital Management LLC acquired a new stake in Sprout Social during the 2nd quarter worth about $21,273,000. Macquarie Group Ltd. boosted its position in Sprout Social by 15.0% during the 2nd quarter. Macquarie Group Ltd. now owns 2,779,197 shares of the company’s stock worth $161,388,000 after acquiring an additional 363,381 shares during the period. Finally, FMR LLC boosted its position in Sprout Social by 40.0% during the 2nd quarter. FMR LLC now owns 1,229,102 shares of the company’s stock worth $71,374,000 after acquiring an additional 351,372 shares during the period. Hedge funds and other institutional investors own 86.34% of the company’s stock.

Sprout Social Trading Up 2.2 %

Shares of Sprout Social stock opened at $60.07 on Friday. The stock has a 50-day simple moving average of $58.59 and a 200-day simple moving average of $59.14. Sprout Social, Inc. has a 52-week low of $38.39 and a 52-week high of $85.99.

Sprout Social (NASDAQ:SPTGet Rating) last issued its quarterly earnings data 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 expect that Sprout Social, Inc. will post -0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

SPT has been the subject of a number of research reports. KeyCorp raised their price objective on Sprout Social from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird raised their price objective on Sprout Social from $64.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, November 17th. Barclays decreased their price objective on Sprout Social from $70.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. Morgan Stanley lifted their price target on Sprout Social from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, December 13th. Finally, Cantor Fitzgerald reduced their price target on Sprout Social from $79.00 to $62.00 in a report on Friday, November 4th. One research 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, Sprout Social has a consensus rating of “Moderate Buy” and a consensus target price of $72.11.

Insider Activity at Sprout Social

In related news, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $51.59, for a total value of $1,031,800.00. Following the transaction, the chief executive officer now directly owns 244,685 shares of the company’s stock, valued at approximately $12,623,299.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $51.59, for a total value of $1,031,800.00. Following the transaction, the chief executive officer now directly owns 244,685 shares of the company’s stock, valued at approximately $12,623,299.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Aaron Edward Frederick Rankin sold 37,200 shares of Sprout Social stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $65.83, for a total value of $2,448,876.00. Following the completion of the transaction, the chief technology officer now directly owns 31,986 shares in the company, valued at $2,105,638.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,676 shares of company stock valued at $5,269,330. Corporate insiders own 13.33% of the company’s stock.

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.

See Also

Want to see what other hedge funds are holding SPT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sprout Social, Inc. (NASDAQ:SPTGet Rating).

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

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