Sprout Social, Inc. $SPT Shares Acquired by CenterBook Partners LP

CenterBook Partners LP increased its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 173.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,285 shares of the company’s stock after purchasing an additional 206,445 shares during the period. CenterBook Partners LP owned 0.55% of Sprout Social worth $4,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB bought a new stake in Sprout Social in the third quarter worth about $1,702,000. Y Intercept Hong Kong Ltd grew its stake in shares of Sprout Social by 121.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 446,403 shares of the company’s stock worth $5,768,000 after purchasing an additional 244,874 shares during the last quarter. LB Partners LLC bought a new stake in shares of Sprout Social in the 3rd quarter worth approximately $2,455,000. Fox Run Management L.L.C. acquired a new stake in Sprout Social during the second quarter valued at approximately $880,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in Sprout Social by 20.4% during the second quarter. Segall Bryant & Hamill LLC now owns 237,415 shares of the company’s stock worth $4,964,000 after buying an additional 40,223 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have issued reports on SPT. Canaccord Genuity Group dropped their price target on Sprout Social from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Sprout Social in a report on Thursday, January 22nd. 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. Jefferies Financial Group dropped their price target on Sprout Social from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Finally, 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 report on Thursday, November 13th. Six research 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. According to data from MarketBeat.com, Sprout Social currently has a consensus rating of “Hold” and an average target price of $21.91.

Insiders Place Their Bets

In related news, CEO Ryan Paul Barretto purchased 93,984 shares of Sprout Social stock in a transaction dated Friday, January 9th. The stock was acquired at an average cost of $10.67 per share, with a total value of $1,002,809.28. Following the completion of the transaction, the chief executive officer directly owned 875,256 shares of the company’s stock, valued at $9,338,981.52. This trade represents a 12.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $10.70, for a total transaction of $428,000.00. Following the sale, the insider owned 7,417 shares of the company’s stock, valued at approximately $79,361.90. This represents a 84.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 10.12% of the company’s stock.

Sprout Social Stock Performance

Shares of Sprout Social stock opened at $7.24 on Thursday. Sprout Social, Inc. has a 12 month low of $6.51 and a 12 month high of $30.92. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23. The stock has a market cap of $428.54 million, a PE ratio of -8.94 and a beta of 0.90. The business has a fifty day simple moving average of $9.71 and a 200-day simple moving average of $11.51.

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.