Impax Asset Management Group plc Has $5.49 Million Stake in Sprout Social, Inc. (NASDAQ:SPT)

Impax Asset Management Group plc increased its position in shares of Sprout Social, Inc. (NASDAQ:SPT) by 46.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 188,724 shares of the company’s stock after buying an additional 60,000 shares during the period. Impax Asset Management Group plc owned 0.33% of Sprout Social worth $5,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SPT. SG Americas Securities LLC acquired a new position in Sprout Social during the first quarter worth $168,000. Swiss National Bank increased its holdings in Sprout Social by 0.8% during the first quarter. Swiss National Bank now owns 96,241 shares of the company’s stock worth $5,747,000 after buying an additional 800 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Sprout Social by 3.5% in the first quarter. Sei Investments Co. now owns 89,690 shares of the company’s stock valued at $5,355,000 after purchasing an additional 3,042 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Sprout Social by 2.8% in the first quarter. Russell Investments Group Ltd. now owns 39,352 shares of the company’s stock valued at $2,350,000 after purchasing an additional 1,060 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of Sprout Social by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 9,587 shares of the company’s stock worth $572,000 after buying an additional 784 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have issued reports on SPT. Barclays cut their price objective on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, November 8th. Robert W. Baird boosted their price objective on shares of Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Oppenheimer lowered their target price on shares of Sprout Social from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.08.

Sprout Social Price Performance

Shares of SPT opened at $28.64 on Friday. Sprout Social, Inc. has a 12-month low of $25.05 and a 12-month high of $68.41. The business has a 50-day simple moving average of $28.10 and a two-hundred day simple moving average of $31.72. The company has a quick ratio of 0.98, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.63 billion, a PE ratio of -23.87 and a beta of 0.99.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The business had revenue of $102.64 million during the quarter, compared to analyst estimates of $102.04 million. Analysts anticipate that Sprout Social, Inc. will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In related news, CEO Justyn Russell Howard sold 8,595 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $29.27, for a total value of $251,575.65. Following the completion of the sale, the chief executive officer now directly owns 302,217 shares of the company’s stock, valued at approximately $8,845,891.59. This represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $29.81, for a total value of $44,715.00. Following the completion of the sale, the chief financial officer now directly owns 162,624 shares of the company’s stock, valued at $4,847,821.44. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,882 shares of company stock valued at $1,801,351. 10.97% of the stock is currently owned by company insiders.

Sprout Social Company 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.