Emerald Advisers LLC Acquires 10,746 Shares of Sprout Social, Inc. $SPT

Emerald Advisers LLC raised its stake in Sprout Social, Inc. (NASDAQ:SPT) by 4.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 248,529 shares of the company’s stock after buying an additional 10,746 shares during the period. Emerald Advisers LLC’s holdings in Sprout Social were worth $5,197,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Quarry LP grew its stake in shares of Sprout Social by 85.2% during the 1st quarter. Quarry LP now owns 1,463 shares of the company’s stock worth $32,000 after acquiring an additional 673 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Sprout Social in the 1st quarter valued at $47,000. CWM LLC raised its holdings in Sprout Social by 266.3% in the 2nd quarter. CWM LLC now owns 3,934 shares of the company’s stock valued at $82,000 after acquiring an additional 2,860 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Sprout Social by 205.1% during the 1st quarter. AlphaQuest LLC now owns 4,479 shares of the company’s stock worth $98,000 after buying an additional 3,011 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Sprout Social by 8.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,367 shares of the company’s stock worth $206,000 after acquiring an additional 747 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Zacks Research lowered Sprout Social from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Oppenheimer lowered their price target on shares of Sprout Social from $32.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. The Goldman Sachs Group decreased their price objective on Sprout Social from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Sprout Social in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group reduced their price objective on Sprout Social from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.36.

Insider Activity at Sprout Social

In other news, insider Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $11.81, for a total value of $236,200.00. Following the transaction, the insider directly owned 7,417 shares in the company, valued at approximately $87,594.77. This represents a 72.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 50,566 shares of company stock valued at $695,181. Corporate insiders own 10.12% of the company’s stock.

Sprout Social Stock Performance

Shares of SPT stock opened at $10.42 on Thursday. The firm has a market cap of $612.80 million, a price-to-earnings ratio of -10.97 and a beta of 0.84. The company’s 50 day moving average is $13.27 and its 200 day moving average is $17.55. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.08. Sprout Social, Inc. has a 52-week low of $10.33 and a 52-week high of $36.30.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. The business had revenue of $111.78 million during the quarter, compared to the consensus estimate of $110.93 million. Sprout Social had a negative net margin of 12.70% and a negative return on equity of 25.95%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. On average, sell-side analysts anticipate 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.