Zevenbergen Capital Investments LLC Has $17.39 Million Position in Sprout Social, Inc. (NASDAQ:SPT)

Zevenbergen Capital Investments LLC lessened its stake in shares of Sprout Social, Inc. (NASDAQ:SPTFree Report) by 3.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 283,088 shares of the company’s stock after selling 9,554 shares during the quarter. Zevenbergen Capital Investments LLC owned about 0.51% of Sprout Social worth $17,393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SPT. RiverPark Advisors LLC bought a new position in Sprout Social during the 3rd quarter worth $37,000. Guinness Atkinson Asset Management Inc bought a new position in Sprout Social during the third quarter worth about $40,000. DekaBank Deutsche Girozentrale acquired a new stake in Sprout Social in the 3rd quarter worth about $47,000. Arcadia Investment Management Corp MI boosted its holdings in Sprout Social by 36.7% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after purchasing an additional 281 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Sprout Social by 14.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after purchasing an additional 323 shares in the last quarter.

Insider Buying and Selling at Sprout Social

In other news, CEO Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the transaction, the chief executive officer now owns 287,912 shares in the company, valued at $16,802,544.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Justyn Russell Howard sold 40,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $58.36, for a total value of $2,334,400.00. Following the completion of the sale, the chief executive officer now owns 287,912 shares of the company’s stock, valued at $16,802,544.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $59.63, for a total value of $89,445.00. Following the completion of the transaction, the chief financial officer now directly owns 172,644 shares in the company, valued at $10,294,761.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,600 shares of company stock worth $5,738,830. 10.97% of the stock is currently owned by company insiders.

Sprout Social Trading Up 0.5 %

Shares of NASDAQ:SPT traded up $0.15 during trading on Friday, hitting $29.93. 783,855 shares of the company were exchanged, compared to its average volume of 1,962,902. Sprout Social, Inc. has a 1-year low of $25.68 and a 1-year high of $68.41. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $49.52 and its 200-day moving average is $55.53.

Sprout Social (NASDAQ:SPTGet Free Report) last issued its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The firm had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. Sell-side analysts predict that Sprout Social, Inc. will post -0.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SPT shares. William Blair reiterated a “market perform” rating on shares of Sprout Social in a research report on Friday, May 3rd. Cantor Fitzgerald cut their target price on Sprout Social from $74.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Oppenheimer decreased their price target on Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Piper Sandler cut shares of Sprout Social from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $66.00 to $40.00 in a research report on Friday, May 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.07.

Get Our Latest Stock Report on SPT

Sprout Social Profile

(Free Report)

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.

See Also

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

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