AlphaQuest LLC Grows Position in Sprout Social, Inc. $SPT

AlphaQuest LLC raised its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 1,593.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,043 shares of the company’s stock after purchasing an additional 103,544 shares during the period. AlphaQuest LLC owned 0.19% of Sprout Social worth $1,422,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC grew its stake in shares of Sprout Social by 8.7% during the 2nd quarter. Jennison Associates LLC now owns 2,392,450 shares of the company’s stock valued at $50,026,000 after buying an additional 192,007 shares during the period. Geode Capital Management LLC grew its position in Sprout Social by 1.5% during the second quarter. Geode Capital Management LLC now owns 1,241,902 shares of the company’s stock valued at $25,971,000 after acquiring an additional 18,456 shares during the period. Cubist Systematic Strategies LLC grew its position in Sprout Social by 739.6% during the second quarter. Cubist Systematic Strategies LLC now owns 714,089 shares of the company’s stock valued at $14,932,000 after acquiring an additional 629,033 shares during the period. Ameriprise Financial Inc. increased its stake in Sprout Social by 25.1% during the second quarter. Ameriprise Financial Inc. now owns 708,686 shares of the company’s stock worth $14,819,000 after acquiring an additional 142,157 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Sprout Social by 1.2% in the 3rd quarter. Federated Hermes Inc. now owns 695,631 shares of the company’s stock worth $8,988,000 after purchasing an additional 8,397 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SPT. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sprout Social in a report on Thursday, January 22nd. Canaccord Genuity Group decreased their price objective on shares of Sprout Social from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Morgan Stanley cut their target price on shares of Sprout Social from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 13th. Finally, Barclays reduced their target price on shares of Sprout Social from $26.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $24.64.

Insider Activity at Sprout Social

In related news, Director Aaron Edward Frederick Rankin purchased 90,661 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was acquired at an average price of $11.14 per share, for a total transaction of $1,009,963.54. Following the completion of the purchase, the director owned 114,969 shares in the company, valued at approximately $1,280,754.66. This represents a 372.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Paul Barretto purchased 93,984 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was bought at an average cost of $10.67 per share, for a total transaction of $1,002,809.28. Following the completion of the acquisition, the chief executive officer directly owned 875,256 shares of the company’s stock, valued at $9,338,981.52. This represents a 12.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 10.12% of the stock is currently owned by company insiders.

Sprout Social Price Performance

Shares of SPT stock opened at $9.05 on Friday. The firm has a fifty day simple moving average of $10.42 and a 200-day simple moving average of $12.51. The company has a market capitalization of $535.67 million, a PE ratio of -11.17 and a beta of 0.81. Sprout Social, Inc. has a twelve month low of $8.55 and a twelve month high of $34.38. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.23.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.07. The firm had revenue of $115.59 million for the quarter, compared to the consensus estimate of $114.86 million. Sprout Social had a negative net margin of 10.59% and a negative return on equity of 18.93%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS. Sprout Social has set its FY 2025 guidance at 0.770-0.790 EPS and its Q4 2025 guidance at 0.150-0.170 EPS. Equities research analysts anticipate that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Sprout Social Profile

Sprout Social (NASDAQ: SPT) is a Chicago-based software company specializing in social media management solutions for businesses of all sizes. The company provides a cloud-based platform designed to help organizations improve their social media presence through a suite of tools for content scheduling, community engagement, social listening and analytics. Sprout Social’s platform is built to streamline the workflows of marketing, customer care and public relations teams by providing a centralized hub for managing multiple social channels.

The company’s product offerings include publishing and scheduling capabilities that allow users to plan and automate social content across networks such as Facebook, Instagram, Twitter, LinkedIn and Pinterest.