Brighton Jones LLC Boosts Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Brighton Jones LLC raised its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 71.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,513 shares of the company’s stock after purchasing an additional 6,031 shares during the quarter. Brighton Jones LLC’s holdings in Sprout Social were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Knights of Columbus Asset Advisors LLC lifted its stake in shares of Sprout Social by 162.5% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock valued at $4,568,000 after purchasing an additional 46,033 shares during the period. Natixis Advisors L.P. grew its holdings in shares of Sprout Social by 43.7% in the 3rd quarter. Natixis Advisors L.P. now owns 61,300 shares of the company’s stock worth $3,058,000 after acquiring an additional 18,644 shares during the period. Baillie Gifford & Co. raised its holdings in Sprout Social by 244.1% during the third quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock worth $219,692,000 after purchasing an additional 3,124,376 shares during the last quarter. Corton Capital Inc. boosted its position in Sprout Social by 16.6% during the third quarter. Corton Capital Inc. now owns 6,899 shares of the company’s stock worth $344,000 after purchasing an additional 983 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Sprout Social by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after acquiring an additional 191,471 shares during the period.

Sprout Social Price Performance

Shares of NASDAQ SPT opened at $49.91 on Thursday. The business has a 50 day simple moving average of $57.24 and a 200-day simple moving average of $56.96. Sprout Social, Inc. has a twelve month low of $37.00 and a twelve month high of $68.41. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -41.59 and a beta of 1.09. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share 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 business had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. As a group, equities research analysts expect that Sprout Social, Inc. will post -1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

SPT has been the topic of several research reports. 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 on the stock. The Goldman Sachs Group increased their target price on shares of Sprout Social from $65.00 to $81.00 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Barclays reduced their price target on shares of Sprout Social from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $74.00 price objective on shares of Sprout Social in a research report on Wednesday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $75.00 target price on shares of Sprout Social in a report on Monday, April 22nd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sprout Social currently has an average rating of “Moderate Buy” and an average price target of $72.57.

Insider Transactions at Sprout Social

In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at approximately $22,983,066.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $59.71, for a total transaction of $89,565.00. Following the sale, the chief financial officer now directly owns 127,322 shares in the company, valued at $7,602,396.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the sale, the chief executive officer now directly owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,200 shares of company stock worth $8,171,958. Insiders own 10.97% of the company’s stock.

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.