Artisan Partners Limited Partnership Sells 5,370 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Artisan Partners Limited Partnership lowered its position in Sprout Social, Inc. (NASDAQ:SPT) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 405,536 shares of the company’s stock after selling 5,370 shares during the quarter. Artisan Partners Limited Partnership owned 0.73% of Sprout Social worth $18,720,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Sprout Social during the 1st quarter worth approximately $32,000. C M Bidwell & Associates Ltd. bought a new position in shares of Sprout Social during the 1st quarter worth approximately $33,000. Quarry LP bought a new position in shares of Sprout Social during the 1st quarter worth approximately $40,000. Captrust Financial Advisors lifted its position in shares of Sprout Social by 941.1% during the 2nd quarter. Captrust Financial Advisors now owns 760 shares of the company’s stock worth $44,000 after buying an additional 687 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in shares of Sprout Social during the 1st quarter worth approximately $48,000.

Insider Activity

In other news, President Ryan Paul Barretto sold 11,200 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $50.09, for a total value of $561,008.00. Following the transaction, the president now directly owns 226,175 shares in the company, valued at approximately $11,329,105.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Karen Walker sold 4,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $52.88, for a total value of $211,520.00. Following the transaction, the director now directly owns 42,053 shares in the company, valued at approximately $2,223,762.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Ryan Paul Barretto sold 11,200 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $50.09, for a total value of $561,008.00. Following the completion of the transaction, the president now owns 226,175 shares in the company, valued at $11,329,105.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,909 shares of company stock valued at $1,596,994. Company insiders own 11.93% of the company’s stock.

Sprout Social Stock Up 2.3 %

NASDAQ SPT opened at $53.73 on Friday. The stock has a fifty day moving average of $48.46 and a 200-day moving average of $48.12. The stock has a market capitalization of $3.01 billion, a P/E ratio of -50.69 and a beta of 0.98. Sprout Social, Inc. has a 52 week low of $37.00 and a 52 week high of $74.07. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 1.20.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SPT. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Sprout Social in a report on Friday, September 15th. BTIG Research dropped their price target on Sprout Social from $76.00 to $70.00 in a report on Sunday, August 6th. Stephens began coverage on Sprout Social in a report on Tuesday, October 10th. They set an “overweight” rating and a $78.00 price target for the company. Morgan Stanley raised their price target on Sprout Social from $52.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Finally, KeyCorp dropped their price target on Sprout Social from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Monday, October 23rd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Sprout Social presently has an average rating of “Moderate Buy” and a consensus price target of $63.25.

Sprout Social Company Profile

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.