Sprout Social, Inc. (NASDAQ:SPT) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. cut its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 13.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,023,523 shares of the company’s stock after selling 471,300 shares during the period. Baillie Gifford & Co. owned about 0.05% of Sprout Social worth $66,487,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SPT. Versant Capital Management Inc lifted its holdings in Sprout Social by 1,319.4% in the first quarter. Versant Capital Management Inc now owns 1,462 shares of the company’s stock worth $32,000 after acquiring an additional 1,359 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Sprout Social by 19,500.0% in the 1st quarter. GAMMA Investing LLC now owns 9,016 shares of the company’s stock worth $198,000 after purchasing an additional 8,970 shares during the last quarter. Woodline Partners LP acquired a new position in Sprout Social during the 4th quarter valued at approximately $233,000. Harbor Capital Advisors Inc. grew its stake in Sprout Social by 31.0% during the 1st quarter. Harbor Capital Advisors Inc. now owns 12,499 shares of the company’s stock worth $275,000 after buying an additional 2,955 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new position in Sprout Social during the 4th quarter worth $304,000.

Insider Buying and Selling

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $21.12, for a total value of $844,800.00. Following the transaction, the insider owned 7,417 shares of the company’s stock, valued at approximately $156,647.04. This represents a 84.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of the firm’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $21.16, for a total value of $355,488.00. Following the sale, the chief executive officer directly owned 119,775 shares of the company’s stock, valued at approximately $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 have sold 152,375 shares of company stock worth $3,221,935 in the last ninety days. 10.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Sprout Social from $29.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley reduced their target price on shares of Sprout Social from $30.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Barclays dropped 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. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price objective on shares of Sprout Social in a research report on Wednesday, May 28th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $24.00 price objective on shares of Sprout Social in a report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sprout Social has a consensus rating of “Hold” and a consensus price target of $30.00.

Sprout Social Stock Down 0.7%

SPT opened at $18.93 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $1.10 billion, a PE ratio of -18.20 and a beta of 1.01. The stock’s fifty day moving average is $20.65 and its 200-day moving average is $24.16. Sprout Social, Inc. has a one year low of $18.32 and a one year high of $39.74.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.15 by $0.07. Sprout Social had a negative net margin of 14.25% and a negative return on equity of 31.03%. The firm had revenue of $109.29 million for the quarter, compared to analysts’ expectations of $107.63 million. During the same period in the previous year, the business earned $0.10 earnings per share. Sprout Social’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

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.