Raymond James & Associates Sells 7,317 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Raymond James & Associates lowered its stake in Sprout Social, Inc. (NASDAQ:SPT) by 15.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,050 shares of the company’s stock after selling 7,317 shares during the quarter. Raymond James & Associates owned approximately 0.07% of Sprout Social worth $2,461,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of Sprout Social by 21.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,087 shares of the company’s stock valued at $54,000 after acquiring an additional 190 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Sprout Social by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 18,585 shares of the company’s stock valued at $1,049,000 after acquiring an additional 192 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Sprout Social by 4.7% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock valued at $232,000 after acquiring an additional 208 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in shares of Sprout Social by 40.3% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 766 shares of the company’s stock valued at $38,000 after acquiring an additional 220 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Sprout Social by 0.4% during the 4th quarter. Alliancebernstein L.P. now owns 56,171 shares of the company’s stock valued at $3,171,000 after acquiring an additional 239 shares during the last quarter.

Sprout Social Trading Down 2.1 %

NASDAQ:SPT opened at $55.11 on Tuesday. The company has a fifty day moving average of $59.86 and a 200 day moving average of $56.77. Sprout Social, Inc. has a 52 week low of $37.00 and a 52 week high of $68.41. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $3.10 billion, a P/E ratio of -45.92 and a beta of 1.05.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. The firm had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. On average, research analysts predict that Sprout Social, Inc. will post -1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $74.00 price target on shares of Sprout Social in a research report on Wednesday, February 21st. Canaccord Genuity Group restated a “buy” rating and issued a $70.00 target price on shares of Sprout Social in a research report on Wednesday, February 21st. KeyCorp started coverage on Sprout Social in a research report on Thursday, March 21st. They issued an “overweight” rating and a $83.00 target price for the company. The Goldman Sachs Group boosted their target price on Sprout Social from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Piper Sandler boosted their target price on Sprout Social from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Sprout Social currently has an average rating of “Moderate Buy” and an average target price of $71.54.

Insiders Place Their Bets

In other Sprout Social news, CEO Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00. Following the completion of the transaction, the chief executive officer now directly owns 287,912 shares in the company, valued at approximately $16,802,544.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value of $318,920.00. Following the completion of the transaction, the president now directly owns 198,175 shares in the company, valued at approximately $11,286,066.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Justyn Russell Howard sold 40,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the transaction, the chief executive officer now owns 287,912 shares of the company’s stock, valued at $16,802,544.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,200 shares of company stock worth $8,171,958. 11.93% of the stock is currently owned by corporate insiders.

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. The company provides cloud software for social messaging, data and workflows in a unified system of record, intelligence, and action.