Sprout Social, Inc. (NASDAQ:SPT) Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its position in shares of Sprout Social, Inc. (NASDAQ:SPT – Get Rating) by 17.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 329,934 shares of the company’s stock after selling 71,199 shares during the period. First Trust Advisors LP’s holdings in Sprout Social were worth $18,618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. increased its stake in Sprout Social by 15.0% during the 2nd quarter. Macquarie Group Ltd. now owns 2,779,197 shares of the company’s stock valued at $161,388,000 after buying an additional 363,381 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Sprout Social by 101.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 441,692 shares of the company’s stock worth $24,938,000 after purchasing an additional 222,928 shares in the last quarter. Renaissance Technologies LLC lifted its position in Sprout Social by 97.1% in the first quarter. Renaissance Technologies LLC now owns 363,400 shares of the company’s stock worth $29,116,000 after purchasing an additional 179,000 shares during the period. Polar Asset Management Partners Inc. bought a new position in Sprout Social during the 3rd quarter valued at $10,807,000. Finally, Thrivent Financial for Lutherans increased its position in shares of Sprout Social by 20.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 979,914 shares of the company’s stock valued at $59,461,000 after purchasing an additional 168,338 shares during the period. Institutional investors own 86.34% of the company’s stock.

Sprout Social Price Performance

SPT stock opened at $43.90 on Monday. The firm has a market capitalization of $2.43 billion, a P/E ratio of -47.20 and a beta of 0.89. Sprout Social, Inc. has a 52-week low of $37.00 and a 52-week high of $74.07. The company’s 50 day simple moving average is $52.17 and its 200-day simple moving average is $57.25.

Sprout Social (NASDAQ:SPT – Get Rating) last announced its earnings results on Tuesday, February 21st. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01. The company had revenue of $69.66 million for the quarter, compared to the consensus estimate of $69.83 million. Sprout Social had a negative net margin of 18.68% and a negative return on equity of 35.74%. Sell-side analysts predict that Sprout Social, Inc. will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $66.37, for a total value of $99,555.00. Following the transaction, the chief financial officer now owns 108,891 shares in the company, valued at approximately $7,227,095.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Preto Joseph Del sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $66.37, for a total transaction of $99,555.00. Following the completion of the sale, the chief financial officer now directly owns 108,891 shares in the company, valued at $7,227,095.67. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Ryan Paul Barretto sold 14,859 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $61.39, for a total transaction of $912,194.01. Following the completion of the transaction, the president now owns 310,908 shares in the company, valued at approximately $19,086,642.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,917 shares of company stock valued at $5,856,485. Corporate insiders own 11.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SPT shares. Canaccord Genuity Group raised their target price on Sprout Social from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, February 22nd. BTIG Research reduced their price objective on shares of Sprout Social from $100.00 to $76.00 in a research report on Wednesday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Sprout Social in a research note on Wednesday, February 22nd. Cantor Fitzgerald cut their target price on shares of Sprout Social from $52.00 to $46.00 in a research note on Wednesday, May 3rd. Finally, Piper Sandler decreased their price target on shares of Sprout Social from $78.00 to $56.00 in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Sprout Social currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.36.

About Sprout Social

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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.