Capital Impact Advisors LLC Raises Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Capital Impact Advisors LLC lifted its position in Sprout Social, Inc. (NASDAQ:SPT – Get Rating) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,754 shares of the company’s stock after buying an additional 564 shares during the period. Sprout Social makes up about 0.8% of Capital Impact Advisors LLC’s portfolio, making the stock its 26th largest position. Capital Impact Advisors LLC’s holdings in Sprout Social were worth $795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ascent Group LLC grew its position in shares of Sprout Social by 5.5% in the 3rd quarter. Ascent Group LLC now owns 4,685 shares of the company’s stock worth $283,000 after buying an additional 245 shares during the last quarter. Balyasny Asset Management LLC purchased a new position in shares of Sprout Social in the 3rd quarter worth approximately $385,000. Neuberger Berman Group LLC grew its position in Sprout Social by 238.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 192,821 shares of the company’s stock worth $11,701,000 after purchasing an additional 135,917 shares during the last quarter. State Street Corp grew its position in Sprout Social by 0.8% during the 3rd quarter. State Street Corp now owns 962,345 shares of the company’s stock worth $58,395,000 after purchasing an additional 7,986 shares during the last quarter. Finally, Pier Capital LLC grew its position in Sprout Social by 71.1% during the 3rd quarter. Pier Capital LLC now owns 124,560 shares of the company’s stock worth $7,558,000 after purchasing an additional 51,781 shares during the last quarter. Hedge funds and other institutional investors own 86.34% of the company’s stock.

Sprout Social Trading Down 1.0 %

Shares of NASDAQ SPT opened at $60.04 on Friday. Sprout Social, Inc. has a 12 month low of $38.39 and a 12 month high of $85.99. The company has a 50 day simple moving average of $61.50 and a two-hundred day simple moving average of $60.04. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -65.26 and a beta of 0.91.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SPT shares. Canaccord Genuity Group boosted their target price on shares of Sprout Social from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 22nd. Cantor Fitzgerald downgraded shares of Sprout Social from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $62.00 to $53.00 in a research report on Monday, February 13th. Barclays boosted their target price on shares of Sprout Social from $63.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 22nd. Morgan Stanley boosted their target price on shares of Sprout Social from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 13th. Finally, Piper Sandler lifted their price objective on shares of Sprout Social from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Sprout Social has a consensus rating of “Moderate Buy” and a consensus target price of $69.67.

Insider Activity at Sprout Social

In related news, CFO Preto Joseph Del sold 443 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $69.82, for a total value of $30,930.26. Following the completion of the transaction, the chief financial officer now directly owns 117,069 shares in the company, valued at approximately $8,173,757.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Preto Joseph Del sold 443 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $69.82, for a total value of $30,930.26. Following the completion of the transaction, the chief financial officer now directly owns 117,069 shares in the company, valued at approximately $8,173,757.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Aaron Edward Frederick Rankin sold 4,500 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $55.00, for a total transaction of $247,500.00. Following the completion of the transaction, the chief technology officer now owns 31,115 shares of the company’s stock, valued at $1,711,325. The disclosure for this sale can be found here. Insiders sold a total of 89,141 shares of company stock worth $5,560,229 in the last three months. Company insiders own 13.33% of the company’s stock.

Sprout Social Company 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.