Dark Forest Capital Management LP Invests $436,000 in Sprout Social, Inc. (NASDAQ:SPT)

Dark Forest Capital Management LP bought a new position in Sprout Social, Inc. (NASDAQ:SPT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,208 shares of the company’s stock, valued at approximately $436,000.

A number of other large investors have also bought and sold shares of SPT. Stifel Financial Corp increased its holdings in shares of Sprout Social by 0.4% in the fourth quarter. Stifel Financial Corp now owns 83,141 shares of the company’s stock valued at $2,553,000 after purchasing an additional 351 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Sprout Social by 7.4% during the fourth quarter. MetLife Investment Management LLC now owns 30,190 shares of the company’s stock valued at $927,000 after acquiring an additional 2,074 shares during the period. First Trust Advisors LP lifted its stake in shares of Sprout Social by 24.4% during the fourth quarter. First Trust Advisors LP now owns 834,093 shares of the company’s stock valued at $25,615,000 after acquiring an additional 163,788 shares during the period. Barclays PLC boosted its holdings in Sprout Social by 8.9% in the fourth quarter. Barclays PLC now owns 98,284 shares of the company’s stock valued at $3,018,000 after acquiring an additional 8,050 shares during the last quarter. Finally, CenterBook Partners LP increased its position in Sprout Social by 26.3% in the fourth quarter. CenterBook Partners LP now owns 304,146 shares of the company’s stock worth $9,340,000 after purchasing an additional 63,248 shares during the period.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the completion of the sale, the insider now owns 7,417 shares of the company’s stock, valued at $241,720.03. This trade represents a 84.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 23,646 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the completion of the transaction, the director now owns 42,122 shares in the company, valued at approximately $1,035,358.76. This represents a 35.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,446 shares of company stock worth $3,115,839 over the last quarter. 10.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SPT. Barclays reduced their target price on shares of Sprout Social from $34.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Piper Sandler reduced their price objective on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Canaccord Genuity Group dropped their target price on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley reduced their price target on Sprout Social from $30.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group dropped their price objective on Sprout Social from $29.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.15.

Sprout Social Stock Performance

Shares of Sprout Social stock opened at $21.45 on Friday. Sprout Social, Inc. has a one year low of $18.52 and a one year high of $52.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s 50-day moving average is $23.27 and its 200-day moving average is $28.34. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -17.87 and a beta of 1.11.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). The company had revenue of $107.09 million during the quarter, compared to the consensus estimate of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. Equities analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

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.