Jennison Associates LLC Has $112.21 Million Stake in Sprout Social, Inc. (NASDAQ:SPT)

Jennison Associates LLC trimmed its stake in shares of Sprout Social, Inc. (NASDAQ:SPT) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,826,276 shares of the company’s stock after selling 11,122 shares during the period. Jennison Associates LLC’s holdings in Sprout Social were worth $112,206,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC lifted its position in shares of Sprout Social by 162.5% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock worth $4,568,000 after purchasing an additional 46,033 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of Sprout Social by 43.7% during the third quarter. Natixis Advisors L.P. now owns 61,300 shares of the company’s stock worth $3,058,000 after purchasing an additional 18,644 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Sprout Social by 244.1% during the third quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock worth $219,692,000 after buying an additional 3,124,376 shares during the last quarter. Corton Capital Inc. raised its stake in shares of Sprout Social by 16.6% during the third quarter. Corton Capital Inc. now owns 6,899 shares of the company’s stock worth $344,000 after buying an additional 983 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Sprout Social by 3.9% during the third quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after buying an additional 191,471 shares during the last quarter.

Insider Activity

In other news, 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 completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.71, for a total transaction of $89,565.00. Following the transaction, the chief financial officer now owns 127,322 shares of the company’s stock, valued at approximately $7,602,396.62. The disclosure for this sale can be found here. Insiders sold 140,200 shares of company stock worth $8,171,958 over the last quarter. 10.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SPT shares. Piper Sandler boosted their price target on shares of Sprout Social from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 21st. KeyCorp started coverage on shares of Sprout Social in a research note on Thursday, March 21st. They set an “overweight” rating and a $83.00 price target for the company. Morgan Stanley dropped their price target on shares of Sprout Social from $73.00 to $65.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $74.00 price target on shares of Sprout Social in a research note on Wednesday, February 21st. Finally, The Goldman Sachs Group upped their target price on shares of Sprout Social from $65.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, January 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Sprout Social presently has an average rating of “Moderate Buy” and an average target price of $72.57.

Sprout Social Trading Up 0.6 %

Sprout Social stock opened at $51.29 on Tuesday. Sprout Social, Inc. has a twelve month low of $37.00 and a twelve month high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $58.76 and a 200-day moving average of $56.90.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $93.58 million during the quarter, compared to analyst estimates of $90.76 million. Sprout Social had a negative net margin of 19.91% and a negative return on equity of 41.25%. Equities analysts predict that Sprout Social, Inc. will post -1.17 EPS for the current year.

About Sprout Social

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.