Jennison Associates LLC Trims Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Jennison Associates LLC lessened its holdings in Sprout Social, Inc. (NASDAQ:SPT) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,826,276 shares of the company’s stock after selling 11,122 shares during the period. Jennison Associates LLC owned 3.26% of Sprout Social worth $112,206,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Duality Advisers LP lifted its holdings in shares of Sprout Social by 13.8% in the fourth quarter. Duality Advisers LP now owns 7,652 shares of the company’s stock valued at $470,000 after purchasing an additional 928 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Sprout Social by 3.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock valued at $451,000 after purchasing an additional 225 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Sprout Social by 162.5% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock valued at $4,568,000 after purchasing an additional 46,033 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Sprout Social by 9.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,046 shares of the company’s stock valued at $679,000 after buying an additional 931 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Sprout Social by 4,050.3% during the fourth quarter. International Assets Investment Management LLC now owns 6,267 shares of the company’s stock valued at $385,000 after buying an additional 6,116 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Barclays reduced their price objective on shares of Sprout Social from $75.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. KeyCorp assumed coverage on shares of Sprout Social in a research note on Thursday, March 21st. They set an “overweight” rating and a $83.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $74.00 price objective on shares of Sprout Social in a research note on Wednesday, February 21st. Stifel Nicolaus upped their price objective on shares of Sprout Social from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Finally, Morgan Stanley reduced their price objective on shares of Sprout Social from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sprout Social presently has an average rating of “Moderate Buy” and an average target price of $72.57.

Insider Transactions at Sprout Social

In other news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.60, for a total value of $2,622,400.00. Following the completion of the sale, the director now owns 40,888 shares of the company’s stock, valued at $2,436,924.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Aaron Edward Frederick Rankin sold 44,000 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.60, for a total transaction of $2,622,400.00. Following the completion of the sale, the director now directly owns 40,888 shares of the company’s stock, valued at approximately $2,436,924.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the sale, the chief executive officer now directly owns 287,912 shares of the company’s stock, valued at $16,802,544.32. The disclosure for this sale can be found here. Insiders sold 140,200 shares of company stock valued at $8,171,958 over the last 90 days. Corporate insiders own 10.97% of the company’s stock.

Sprout Social Trading Up 0.6 %

NASDAQ:SPT opened at $51.29 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. Sprout Social, Inc. has a fifty-two week low of $37.00 and a fifty-two week high of $68.41. The firm’s 50 day moving average is $58.76 and its two-hundred day moving average is $56.90.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. The business had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. On average, equities research analysts predict that Sprout Social, Inc. will post -1.17 earnings per share for the current fiscal year.

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.