Ameriprise Financial Inc. Lowers Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Ameriprise Financial Inc. decreased its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 16.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 735,691 shares of the company’s stock after selling 144,124 shares during the quarter. Ameriprise Financial Inc. owned 1.28% of Sprout Social worth $22,594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. ArrowMark Colorado Holdings LLC boosted its stake in shares of Sprout Social by 380.7% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company’s stock valued at $54,425,000 after purchasing an additional 1,403,549 shares during the period. 3G Capital Partners LP acquired a new stake in Sprout Social in the fourth quarter valued at approximately $4,606,000. Northern Trust Corp raised its holdings in Sprout Social by 4.7% in the fourth quarter. Northern Trust Corp now owns 493,450 shares of the company’s stock valued at $15,154,000 after acquiring an additional 22,122 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in Sprout Social by 21.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 199,660 shares of the company’s stock valued at $6,132,000 after acquiring an additional 35,556 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in Sprout Social in the fourth quarter valued at approximately $436,000.

Sprout Social Stock Performance

Shares of Sprout Social stock opened at $24.20 on Thursday. The firm’s fifty day simple moving average is $21.93 and its 200-day simple moving average is $27.80. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -20.17 and a beta of 1.20. Sprout Social, Inc. has a 12 month low of $18.52 and a 12 month high of $39.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, May 8th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $109.29 million for the quarter, compared to analysts’ expectations of $107.63 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. As a group, equities analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SPT has been the topic of several analyst reports. Oppenheimer reduced their target price on shares of Sprout Social from $38.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Needham & Company LLC reduced their target price on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reduced their target price on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Stifel Nicolaus cut their price objective on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group cut their price objective on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Sprout Social presently has a consensus rating of “Hold” and a consensus target price of $31.69.

Insider Activity

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $19.42, for a total value of $97,100.00. Following the transaction, the director now directly owns 25,665 shares of the company’s stock, valued at approximately $498,414.30. The trade was a 16.31% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $20.81, for a total transaction of $832,400.00. Following the completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at $154,347.77. This represents a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,446 shares of company stock valued at $2,644,639 in the last ninety days. 10.12% of the stock is currently owned by company insiders.

About Sprout Social

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.