First Horizon Advisors Inc. Raises Stock Holdings in Sprout Social, Inc. (NASDAQ:SPT)

First Horizon Advisors Inc. increased its holdings in Sprout Social, Inc. (NASDAQ:SPTGet Rating) by 1,900.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 440 shares of the company’s stock after purchasing an additional 418 shares during the period. First Horizon Advisors Inc.’s holdings in Sprout Social were worth $39,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Northern Trust Corp grew its position in shares of Sprout Social by 1.4% during the fourth quarter. Northern Trust Corp now owns 586,332 shares of the company’s stock valued at $53,175,000 after purchasing an additional 7,843 shares in the last quarter. Jennison Associates LLC increased its stake in Sprout Social by 36.2% in the 4th quarter. Jennison Associates LLC now owns 265,870 shares of the company’s stock worth $24,112,000 after acquiring an additional 70,712 shares during the last quarter. MML Investors Services LLC increased its stake in Sprout Social by 29.2% in the 3rd quarter. MML Investors Services LLC now owns 7,523 shares of the company’s stock worth $917,000 after acquiring an additional 1,698 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sprout Social by 21.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,814 shares of the company’s stock worth $799,000 after acquiring an additional 1,546 shares in the last quarter. Finally, Calamos Advisors LLC boosted its position in shares of Sprout Social by 4.3% during the 4th quarter. Calamos Advisors LLC now owns 92,104 shares of the company’s stock valued at $8,353,000 after acquiring an additional 3,759 shares during the last quarter. Institutional investors and hedge funds own 83.30% of the company’s stock.

NASDAQ SPT opened at $50.27 on Friday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -85.20 and a beta of 1.49. The stock has a 50-day moving average of $67.82 and a 200 day moving average of $81.41. Sprout Social, Inc. has a twelve month low of $38.39 and a twelve month high of $145.42.

Sprout Social (NASDAQ:SPTGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $57.43 million during the quarter, compared to analyst estimates of $56.25 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 40.7% compared to the same quarter last year. As a group, equities analysts anticipate that Sprout Social, Inc. will post -0.74 EPS for the current fiscal year.

In related news, CFO Preto Joseph Del sold 900 shares of Sprout Social stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $66.86, for a total transaction of $60,174.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $47.15, for a total value of $943,000.00. Following the transaction, the chief executive officer now directly owns 255,939 shares in the company, valued at approximately $12,067,523.85. The disclosure for this sale can be found here. Insiders sold 155,009 shares of company stock valued at $10,180,387 over the last quarter. Company insiders own 13.33% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of Sprout Social from $160.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. Stifel Nicolaus decreased their target price on shares of Sprout Social from $155.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Piper Sandler dropped their price target on Sprout Social from $125.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, February 23rd. Barclays decreased their price objective on Sprout Social from $91.00 to $79.00 in a research report on Wednesday, May 4th. Finally, Robert W. Baird cut their price objective on shares of Sprout Social from $165.00 to $110.00 in a research report on Wednesday, February 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $103.33.

Sprout Social Company Profile (Get Rating)

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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.

Featured Stories

Institutional Ownership by Quarter for Sprout Social (NASDAQ:SPT)

Receive News & Ratings for Sprout Social Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprout Social and related companies with MarketBeat.com's FREE daily email newsletter.