Brighton Jones LLC Increases Position in Sprout Social, Inc. (NASDAQ:SPT)

Brighton Jones LLC raised its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 391.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,985 shares of the company’s stock after purchasing an additional 28,667 shares during the period. Brighton Jones LLC’s holdings in Sprout Social were worth $1,105,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SPT. Impax Asset Management Group plc grew its holdings in shares of Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock valued at $5,486,000 after purchasing an additional 60,000 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Sprout Social by 324.0% during the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after buying an additional 307,906 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after buying an additional 200,190 shares during the period. M&T Bank Corp bought a new stake in shares of Sprout Social in the 3rd quarter valued at about $1,074,000. Finally, Zacks Investment Management purchased a new stake in Sprout Social during the 3rd quarter valued at about $2,120,000.

Insider Buying and Selling at Sprout Social

In related news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the sale, the insider now directly owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. This represents a 59.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karen Walker sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $30.26, for a total transaction of $151,300.00. Following the sale, the director now owns 30,665 shares of the company’s stock, valued at approximately $927,922.90. This represents a 14.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,265 shares of company stock valued at $2,533,406. Corporate insiders own 10.97% of the company’s stock.

Sprout Social Stock Down 0.7 %

Shares of SPT stock opened at $33.28 on Friday. The business’s fifty day moving average is $32.09 and its 200 day moving average is $31.21. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41.

Sprout Social (NASDAQ:SPT) last released its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The business had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. As a group, sell-side analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Ratings Changes

SPT has been the topic of a number of analyst reports. Barclays decreased their price target on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Scotiabank initiated coverage on shares of Sprout Social in a report on Monday, November 18th. They set a “sector perform” rating and a $28.00 price target for the company. Oppenheimer dropped their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. Piper Sandler decreased their price objective on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Finally, Morgan Stanley increased their target price on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $42.42.

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.