CenterBook Partners LP Has $4.20 Million Holdings in Sprout Social, Inc. $SPT

CenterBook Partners LP raised its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 173.7% in the third quarter, Holdings Channel reports. The firm owned 325,285 shares of the company’s stock after buying an additional 206,445 shares during the period. CenterBook Partners LP’s holdings in Sprout Social were worth $4,203,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in Sprout Social during the third quarter valued at approximately $30,000. First Horizon Advisors Inc. increased its stake in shares of Sprout Social by 78.9% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,531 shares of the company’s stock worth $32,000 after purchasing an additional 675 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Sprout Social by 2,754.5% during the 3rd quarter. Versant Capital Management Inc now owns 3,511 shares of the company’s stock valued at $45,000 after purchasing an additional 3,388 shares in the last quarter. CWM LLC lifted its stake in shares of 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 purchasing an additional 2,860 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Sprout Social by 55.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,496 shares of the company’s stock worth $115,000 after purchasing an additional 1,962 shares in the last quarter.

Insider Activity at Sprout Social

In other news, CEO Ryan Paul Barretto purchased 93,984 shares of the business’s stock in a transaction on Friday, January 9th. The stock was purchased at an average price of $10.67 per share, with a total value of $1,002,809.28. Following the acquisition, the chief executive officer directly owned 875,256 shares in the company, valued at approximately $9,338,981.52. The trade was a 12.03% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Aaron Edward Frederick Rankin acquired 90,661 shares of Sprout Social stock in a transaction on Wednesday, December 17th. The stock was purchased at an average price of $11.14 per share, with a total value of $1,009,963.54. Following the transaction, the director directly owned 114,969 shares in the company, valued at approximately $1,280,754.66. This trade represents a 372.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 10.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SPT. Canaccord Genuity Group cut their target price on Sprout Social from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Morgan Stanley cut their price objective on 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. Barclays reduced their target price on Sprout Social from $26.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sprout Social in a report on Thursday, January 22nd. Finally, Jefferies Financial Group reduced their price objective on shares of Sprout Social from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.91.

Sprout Social Stock Performance

Shares of NASDAQ SPT opened at $7.24 on Thursday. The company has a market cap of $428.54 million, a P/E ratio of -8.94 and a beta of 0.90. Sprout Social, Inc. has a 12 month low of $6.51 and a 12 month high of $30.92. The business’s 50 day moving average is $9.71 and its two-hundred day moving average is $11.51. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23.

About Sprout Social

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.