15,246 Shares in Sprout Social, Inc. $SPT Purchased by Magnetar Financial LLC

Magnetar Financial LLC bought a new stake in shares of Sprout Social, Inc. (NASDAQ:SPT) during the first quarter, HoldingsChannel reports. The institutional investor bought 15,246 shares of the company’s stock, valued at approximately $335,000.

Several other institutional investors also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sprout Social by 11.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,976 shares of the company’s stock worth $373,000 after buying an additional 1,703 shares during the last quarter. Brighton Jones LLC raised its position in shares of Sprout Social by 391.7% during the 4th quarter. Brighton Jones LLC now owns 35,985 shares of the company’s stock valued at $1,105,000 after acquiring an additional 28,667 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Sprout Social by 9.6% in the 1st quarter. Rhumbline Advisers now owns 76,976 shares of the company’s stock valued at $1,693,000 after purchasing an additional 6,774 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Sprout Social in the 1st quarter worth $363,000. Finally, Deutsche Bank AG grew its stake in shares of Sprout Social by 84.5% during the fourth quarter. Deutsche Bank AG now owns 51,367 shares of the company’s stock worth $1,577,000 after purchasing an additional 23,525 shares during the period.

Sprout Social Stock Down 0.3%

Sprout Social stock opened at $15.79 on Tuesday. Sprout Social, Inc. has a twelve month low of $13.33 and a twelve month high of $36.30. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $17.64 and a 200-day moving average of $20.96. The stock has a market capitalization of $928.61 million, a PE ratio of -16.62 and a beta of 0.86.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.03. The company had revenue of $111.78 million during the quarter, compared to analysts’ expectations of $110.93 million. Sprout Social had a negative return on equity of 25.95% and a negative net margin of 12.70%.Sprout Social’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, equities research analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $21.12, for a total transaction of $844,800.00. Following the completion of the transaction, the insider owned 7,417 shares of the company’s stock, valued at $156,647.04. This represents a 84.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $21.16, for a total transaction of $355,488.00. Following the transaction, the chief executive officer directly owned 119,775 shares of the company’s stock, valued at $2,534,439. This represents a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,800 shares of company stock valued at $1,295,538 in the last quarter. 10.12% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on SPT. Cantor Fitzgerald reissued a “neutral” rating and issued a $24.00 target price on shares of Sprout Social in a research note on Tuesday, June 3rd. The Goldman Sachs Group cut their price target on shares of Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Canaccord Genuity Group decreased their price objective on shares of Sprout Social from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price on shares of Sprout Social in a report on Wednesday, May 28th. Finally, Zacks Research cut shares of Sprout Social from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $27.36.

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.