Sprout Social, Inc. (NASDAQ:SPT) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its stake in Sprout Social, Inc. (NASDAQ:SPT) by 31.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 73,204 shares of the company’s stock after selling 33,781 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.13% of Sprout Social worth $3,379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in shares of Sprout Social by 14.4% in the second quarter. Russell Investments Group Ltd. now owns 39,196 shares of the company’s stock worth $1,810,000 after purchasing an additional 4,929 shares in the last quarter. US Bancorp DE grew its stake in Sprout Social by 13.7% in the second quarter. US Bancorp DE now owns 2,157 shares of the company’s stock valued at $100,000 after purchasing an additional 260 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Sprout Social by 0.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 391,498 shares of the company’s stock valued at $18,072,000 after purchasing an additional 2,981 shares in the last quarter. Citigroup Inc. increased its position in Sprout Social by 353.0% in the 2nd quarter. Citigroup Inc. now owns 26,563 shares of the company’s stock worth $1,226,000 after purchasing an additional 20,699 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Sprout Social by 2.4% during the 2nd quarter. Swiss National Bank now owns 104,441 shares of the company’s stock worth $4,821,000 after purchasing an additional 2,400 shares in the last quarter.

Sprout Social Price Performance

Shares of Sprout Social stock opened at $55.35 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.20 and a quick ratio of 1.20. The company has a market cap of $3.10 billion, a PE ratio of -52.22 and a beta of 0.98. The firm has a fifty day moving average price of $48.55 and a two-hundred day moving average price of $48.28. Sprout Social, Inc. has a fifty-two week low of $37.00 and a fifty-two week high of $74.07.

Analyst Ratings Changes

SPT has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $75.00 price objective on shares of Sprout Social in a report on Friday, September 15th. BTIG Research cut their price target on shares of Sprout Social from $76.00 to $70.00 in a report on Sunday, August 6th. KeyCorp decreased their price objective on shares of Sprout Social from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Monday, October 23rd. Stephens started coverage on Sprout Social in a report on Tuesday, October 10th. They set an “overweight” rating and a $78.00 target price on the stock. Finally, Piper Sandler boosted their price target on Sprout Social from $56.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Sprout Social presently has a consensus rating of “Moderate Buy” and an average target price of $63.25.

Insider Activity

In other Sprout Social news, CFO Preto Joseph Del sold 2,776 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $52.62, for a total value of $146,073.12. Following the completion of the sale, the chief financial officer now owns 135,109 shares in the company, valued at approximately $7,109,435.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Preto Joseph Del sold 2,776 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $52.62, for a total transaction of $146,073.12. Following the completion of the transaction, the chief financial officer now directly owns 135,109 shares of the company’s stock, valued at approximately $7,109,435.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ryan Paul Barretto sold 11,200 shares of Sprout Social stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $50.09, for a total transaction of $561,008.00. Following the sale, 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. Over the last 90 days, insiders sold 30,909 shares of company stock valued at $1,596,994. Insiders own 11.93% 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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.