Sprout Social, Inc. (NASDAQ:SPT) Shares Purchased by Peregrine Capital Management LLC

Peregrine Capital Management LLC lifted its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 11.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,049 shares of the company’s stock after buying an additional 17,136 shares during the quarter. Peregrine Capital Management LLC owned about 0.30% of Sprout Social worth $6,032,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Sprout Social by 13.4% during the second quarter. Principal Financial Group Inc. now owns 999,261 shares of the company’s stock worth $35,654,000 after acquiring an additional 118,160 shares during the last quarter. LB Partners LLC purchased a new position in shares of Sprout Social in the 2nd quarter valued at approximately $714,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Sprout Social by 28.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,463 shares of the company’s stock valued at $445,000 after buying an additional 2,729 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Sprout Social by 98.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 664,970 shares of the company’s stock worth $23,726,000 after purchasing an additional 330,309 shares in the last quarter. Finally, Diversified Trust Co lifted its position in Sprout Social by 7.0% in the second quarter. Diversified Trust Co now owns 15,199 shares of the company’s stock valued at $542,000 after purchasing an additional 992 shares during the period.

Sprout Social Trading Down 2.4 %

Shares of Sprout Social stock traded down $0.75 during trading hours on Friday, hitting $31.10. 533,988 shares of the company’s stock traded hands, compared to its average volume of 822,868. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.26. Sprout Social, Inc. has a twelve month low of $25.68 and a twelve month high of $68.41. The stock has a 50 day simple moving average of $34.56 and a 200-day simple moving average of $43.40.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $99.40 million for the quarter, compared to analyst estimates of $98.70 million. Sprout Social had a negative return on equity of 44.38% and a negative net margin of 19.60%. Sprout Social’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.23) EPS. As a group, research analysts predict that Sprout Social, Inc. will post -0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $36.66, for a total transaction of $54,990.00. Following the completion of the sale, the chief financial officer now owns 165,624 shares in the company, valued at $6,071,775.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $36.66, for a total value of $54,990.00. Following the sale, the chief financial officer now directly owns 165,624 shares of the company’s stock, valued at $6,071,775.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $36.13, for a total transaction of $722,600.00. Following the completion of the sale, the chief executive officer now directly owns 398,229 shares in the company, valued at approximately $14,388,013.77. The disclosure for this sale can be found here. Insiders have sold a total of 95,970 shares of company stock valued at $3,219,603 in the last quarter. Insiders own 10.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. BTIG Research downgraded Sprout Social from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $46.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Oppenheimer lowered their price target on Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Piper Sandler cut Sprout Social from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $40.00 in a report on Friday, May 3rd. Finally, KeyCorp downgraded shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $51.31.

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.