Y Intercept Hong Kong Ltd increased its position in shares of Sprout Social, Inc. (NASDAQ:SPT – Free Report) by 252.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 626,762 shares of the company’s stock after purchasing an additional 448,783 shares during the quarter. Y Intercept Hong Kong Ltd owned 1.05% of Sprout Social worth $3,573,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. LB Partners LLC boosted its stake in shares of Sprout Social by 144.7% during the 1st quarter. LB Partners LLC now owns 1,510,979 shares of the company’s stock worth $8,613,000 after purchasing an additional 893,502 shares during the last quarter. SG Americas Securities LLC grew its stake in Sprout Social by 10.7% in the 1st quarter. SG Americas Securities LLC now owns 34,463 shares of the company’s stock worth $196,000 after acquiring an additional 3,319 shares during the period. Hsbc Holdings PLC raised its holdings in Sprout Social by 10.7% in the 4th quarter. Hsbc Holdings PLC now owns 74,387 shares of the company’s stock valued at $843,000 after acquiring an additional 7,196 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Sprout Social by 38.6% during the 4th quarter. Invesco Ltd. now owns 76,775 shares of the company’s stock worth $865,000 after purchasing an additional 21,399 shares during the period. Finally, State of Tennessee Department of Treasury boosted its holdings in shares of Sprout Social by 228.3% during the fourth quarter. State of Tennessee Department of Treasury now owns 38,071 shares of the company’s stock worth $429,000 after purchasing an additional 26,474 shares during the last quarter.
Sprout Social Trading Up 3.3%
Shares of SPT traded up $0.28 during trading hours on Tuesday, hitting $8.52. The stock had a trading volume of 347,209 shares, compared to its average volume of 1,585,294. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $511.84 million, a P/E ratio of -12.87 and a beta of 0.99. The company’s fifty day simple moving average is $6.93 and its 200 day simple moving average is $7.48. Sprout Social, Inc. has a 12-month low of $4.92 and a 12-month high of $21.53.
Insider Transactions at Sprout Social
In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $5.03, for a total transaction of $201,200.00. Following the transaction, the insider directly owned 7,417 shares of the company’s stock, valued at $37,307.51. The trade was a 84.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 9.60% of the company’s stock.
Analyst Ratings Changes
SPT has been the subject of several analyst reports. Barclays upped their target price on Sprout Social from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sprout Social in a research note on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.88.
Get Our Latest Analysis on SPT
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.
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