Newbridge Financial Services Group Inc. Has $392,000 Holdings in Sprout Social, Inc. (NASDAQ:SPT)

Newbridge Financial Services Group Inc. lowered its position in shares of Sprout Social, Inc. (NASDAQ:SPTFree Report) by 27.9% during the fourth quarter, HoldingsChannel reports. The fund owned 6,375 shares of the company’s stock after selling 2,470 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Sprout Social were worth $392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Sprout Social by 27.5% in the third quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company’s stock valued at $197,183,000 after purchasing an additional 853,127 shares during the period. Fred Alger Management LLC increased its stake in shares of Sprout Social by 334.1% in the third quarter. Fred Alger Management LLC now owns 667,462 shares of the company’s stock valued at $33,293,000 after buying an additional 513,687 shares during the period. Shannon River Fund Management LLC bought a new position in shares of Sprout Social during the third quarter worth about $14,103,000. Norges Bank acquired a new position in shares of Sprout Social in the fourth quarter worth approximately $14,085,000. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Sprout Social by 2,935.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 208,164 shares of the company’s stock valued at $12,790,000 after acquiring an additional 201,307 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Sprout Social from $65.00 to $49.00 and set an “equal weight” rating for the company in a report on Friday, May 3rd. William Blair reiterated a “market perform” rating on shares of Sprout Social in a research note on Friday, May 3rd. Barclays cut their target price on Sprout Social from $72.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Cantor Fitzgerald decreased their price target 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. Finally, KeyCorp lowered Sprout Social from an “overweight” rating to a “sector weight” rating in a report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.07.

View Our Latest Stock Analysis on Sprout Social

Insider Buying and Selling at Sprout Social

In other Sprout Social news, Director Aaron Edward Frederick Rankin sold 1,184 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total value of $38,053.76. Following the completion of the sale, the director now owns 43,303 shares in the company, valued at $1,391,758.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Aaron Edward Frederick Rankin sold 1,184 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $32.14, for a total transaction of $38,053.76. Following the completion of the transaction, the director now owns 43,303 shares in the company, valued at $1,391,758.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00. Following the transaction, the chief executive officer now owns 406,636 shares of the company’s stock, valued at approximately $22,983,066.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,870 shares of company stock worth $4,673,003. 10.97% of the stock is currently owned by insiders.

Sprout Social Trading Down 0.4 %

SPT stock traded down $0.15 during mid-day trading on Tuesday, hitting $33.46. 31,903 shares of the stock were exchanged, compared to its average volume of 900,174. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average price of $39.21 and a 200 day moving average price of $52.93. Sprout Social, Inc. has a 12 month low of $25.68 and a 12 month high of $68.41.

Sprout Social (NASDAQ:SPTGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.10. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. The company had revenue of $96.78 million for the quarter, compared to analyst estimates of $97.29 million. As a group, equities analysts anticipate that Sprout Social, Inc. will post -0.84 EPS for the current fiscal year.

About Sprout Social

(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.

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

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