RiverPark Advisors LLC Buys 4,503 Shares of Sprout Social, Inc. (NASDAQ:SPT)

RiverPark Advisors LLC increased its stake in Sprout Social, Inc. (NASDAQ:SPT) by 361.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,750 shares of the company’s stock after purchasing an additional 4,503 shares during the period. RiverPark Advisors LLC’s holdings in Sprout Social were worth $343,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SPT. Fidelis Capital Partners LLC bought a new position in shares of Sprout Social in the first quarter worth approximately $27,000. Arcadia Investment Management Corp MI grew its position in Sprout Social by 36.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after acquiring an additional 281 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Sprout Social by 169.2% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,434 shares of the company’s stock valued at $150,000 after acquiring an additional 1,530 shares during the last quarter. Assetmark Inc. grew its position in Sprout Social by 28.9% during the fourth quarter. Assetmark Inc. now owns 2,900 shares of the company’s stock valued at $178,000 after acquiring an additional 650 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in Sprout Social during the fourth quarter valued at approximately $275,000.

Sprout Social Stock Performance

NASDAQ SPT traded down $1.16 during trading hours on Tuesday, hitting $35.12. The company’s stock had a trading volume of 1,202,299 shares, compared to its average volume of 893,546. Sprout Social, Inc. has a 12 month low of $25.68 and a 12 month high of $68.41. The company’s 50 day simple moving average is $33.25 and its two-hundred day simple moving average is $50.14. The company has a market cap of $1.99 billion, a P/E ratio of -28.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.10. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. The company had revenue of $96.78 million during the quarter, compared to the consensus estimate of $97.29 million. As a group, sell-side analysts expect that Sprout Social, Inc. will post -0.84 EPS for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, President Ryan Paul Barretto sold 15,586 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total transaction of $500,934.04. Following the completion of the sale, the president now directly owns 484,115 shares in the company, valued at approximately $15,559,456.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Ryan Paul Barretto sold 15,586 shares of Sprout Social stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total transaction of $500,934.04. Following the transaction, the president now directly owns 484,115 shares of the company’s stock, valued at approximately $15,559,456.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $28.51, for a total value of $42,765.00. Following the transaction, the chief financial officer now directly owns 171,144 shares in the company, valued at $4,879,315.44. The disclosure for this sale can be found here. Insiders sold a total of 92,470 shares of company stock worth $3,063,248 in the last three months. 10.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on SPT shares. Morgan Stanley reduced their price target on shares of Sprout Social from $65.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, May 3rd. The Goldman Sachs Group cut shares of Sprout Social from a “buy” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $44.00 in a report on Friday, May 3rd. Oppenheimer cut their target price on shares of Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. KeyCorp cut shares of Sprout Social from an “overweight” rating to a “sector weight” rating in a report on Friday, May 3rd. Finally, William Blair restated a “market perform” rating on shares of Sprout Social in a report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.57.

Sprout Social Profile

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.