Ironwood Investment Management LLC Takes Position in Sprout Social, Inc. (NASDAQ:SPT)

Ironwood Investment Management LLC purchased a new position in shares of Sprout Social, Inc. (NASDAQ:SPT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 21,346 shares of the company’s stock, valued at approximately $656,000.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP lifted its position in shares of Sprout Social by 100.9% in the third quarter. Quarry LP now owns 1,573 shares of the company’s stock valued at $46,000 after buying an additional 790 shares during the last quarter. US Bancorp DE lifted its holdings in Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock valued at $52,000 after purchasing an additional 1,627 shares during the last quarter. KBC Group NV boosted its position in Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company’s stock worth $78,000 after purchasing an additional 1,099 shares during the period. Assetmark Inc. raised its position in shares of Sprout Social by 27.5% in the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after purchasing an additional 801 shares during the period. Finally, Yarbrough Capital LLC acquired a new stake in shares of Sprout Social during the 4th quarter worth about $206,000.

Insider Activity at Sprout Social

In related news, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $30.26, for a total transaction of $151,300.00. Following the sale, the director now directly owns 30,665 shares in the company, valued at $927,922.90. This trade represents a 14.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the completion of the sale, the insider now directly owns 27,136 shares in the company, valued at approximately $859,397.12. This represents a 59.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,800 shares of company stock valued at $3,242,332. 10.97% of the stock is owned by insiders.

Sprout Social Stock Up 1.7 %

Shares of SPT opened at $23.97 on Friday. The firm has a 50 day simple moving average of $30.16 and a two-hundred day simple moving average of $29.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. Sprout Social, Inc. has a one year low of $22.95 and a one year high of $62.34. The company has a market cap of $1.38 billion, a P/E ratio of -19.97 and a beta of 1.11.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). The business had revenue of $107.09 million for the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. Research analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on SPT shares. The Goldman Sachs Group lowered their price target on shares of Sprout Social from $34.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Scotiabank lowered their target price on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC decreased their price objective on Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barclays dropped their target price on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Jefferies Financial Group upped their price target on shares of Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Sprout Social has a consensus rating of “Hold” and an average price target of $33.85.

Sprout Social 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.