Silvercrest Asset Management Group LLC Sells 28,661 Shares of Sprout Social, Inc. (NASDAQ:SPT)

Silvercrest Asset Management Group LLC lessened its stake in Sprout Social, Inc. (NASDAQ:SPT) by 11.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 213,165 shares of the company’s stock after selling 28,661 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Sprout Social were worth $6,546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in Sprout Social in the 4th quarter worth $338,000. Barclays PLC lifted its position in shares of Sprout Social by 339.5% in the third quarter. Barclays PLC now owns 90,234 shares of the company’s stock worth $2,623,000 after buying an additional 69,704 shares in the last quarter. Brighton Jones LLC boosted its stake in Sprout Social by 391.7% during the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company’s stock valued at $1,105,000 after buying an additional 28,667 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Sprout Social during the 4th quarter valued at approximately $1,184,000. Finally, PNC Financial Services Group Inc. grew its holdings in Sprout Social by 41.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company’s stock valued at $265,000 after buying an additional 2,533 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SPT. Scotiabank lowered their target price on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Barclays decreased their price target on shares of Sprout Social from $34.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Stifel Nicolaus dropped their price objective on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group decreased their target price on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Piper Sandler lowered their price target on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Sprout Social presently has an average rating of “Hold” and an average target price of $31.69.

Sprout Social Stock Performance

Shares of NASDAQ:SPT opened at $23.90 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social, Inc. has a 12 month low of $18.52 and a 12 month high of $39.75. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -19.92 and a beta of 1.20. The firm’s 50-day moving average is $21.94 and its 200 day moving average is $27.77.

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

Insider Activity at Sprout Social

In other Sprout Social news, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $19.42, for a total transaction of $97,100.00. Following the transaction, the director now directly owns 25,665 shares in the company, valued at $498,414.30. This trade represents a 16.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Friday, April 4th. The shares were sold at an average price of $19.99, for a total value of $799,600.00. Following the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at approximately $148,265.83. This trade represents a 84.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,446 shares of company stock worth $2,644,639 in the last quarter. 10.12% of the stock is 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.