Impax Asset Management Group plc Increases Stake in Sprout Social, Inc. (NASDAQ:SPT)

Impax Asset Management Group plc increased its position in Sprout Social, Inc. (NASDAQ:SPT) by 46.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 188,724 shares of the company’s stock after purchasing an additional 60,000 shares during the period. Impax Asset Management Group plc’s holdings in Sprout Social were worth $5,486,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in SPT. Quarry LP grew its holdings in Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after buying an additional 751 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Sprout Social during the 1st quarter valued at about $37,000. Covestor Ltd grew its holdings in Sprout Social by 35,450.0% during the 1st quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after buying an additional 709 shares in the last quarter. Bessemer Group Inc. purchased a new position in Sprout Social during the 1st quarter valued at about $61,000. Finally, nVerses Capital LLC grew its holdings in Sprout Social by 76.5% during the 2nd quarter. nVerses Capital LLC now owns 3,000 shares of the company’s stock valued at $107,000 after buying an additional 1,300 shares in the last quarter.

Insider Activity

In other news, President Ryan Paul Barretto sold 13,306 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $29.23, for a total transaction of $388,934.38. Following the transaction, the president now directly owns 470,809 shares of the company’s stock, valued at $13,761,747.07. This represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 162,624 shares in the company, valued at approximately $4,847,821.44. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,882 shares of company stock valued at $1,801,351 over the last ninety days. 10.97% of the stock is currently owned by corporate insiders.

Sprout Social Price Performance

Shares of SPT stock opened at $28.64 on Friday. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -23.87 and a beta of 0.99. The business’s fifty day moving average is $28.10 and its 200 day moving average is $31.72. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41. The company has a quick ratio of 0.98, a current ratio of 0.96 and a debt-to-equity ratio of 0.19.

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

Analyst Ratings Changes

A number of research firms have weighed in on SPT. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Sprout Social in a report on Friday, November 8th. KeyCorp downgraded Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research report on Thursday, August 22nd. Oppenheimer dropped their price target on Sprout Social from $43.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Piper Sandler dropped their price target on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $46.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.08.

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.