Pale Fire Capital SE acquired a new position in shares of Sprout Social, Inc. (NASDAQ:SPT – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 343,841 shares of the company’s stock, valued at approximately $1,960,000. Sprout Social accounts for 0.2% of Pale Fire Capital SE’s investment portfolio, making the stock its 28th biggest position. Pale Fire Capital SE owned about 0.58% of Sprout Social as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Sprout Social by 2.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,127 shares of the company’s stock worth $1,168,000 after buying an additional 1,265 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Sprout Social by 39.1% in the fourth quarter. Russell Investments Group Ltd. now owns 6,235 shares of the company’s stock valued at $70,000 after acquiring an additional 1,752 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Sprout Social by 55.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,496 shares of the company’s stock valued at $115,000 after acquiring an additional 1,962 shares in the last quarter. Summit Securities Group LLC raised its holdings in shares of Sprout Social by 399.0% in the fourth quarter. Summit Securities Group LLC now owns 2,520 shares of the company’s stock valued at $28,000 after acquiring an additional 2,015 shares in the last quarter. Finally, Headlands Technologies LLC lifted its stake in Sprout Social by 13.0% in the second quarter. Headlands Technologies LLC now owns 18,573 shares of the company’s stock worth $388,000 after acquiring an additional 2,131 shares during the period.
Sprout Social Stock Up 3.4%
Sprout Social stock opened at $7.57 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. The firm has a market cap of $455.00 million, a P/E ratio of -11.47 and a beta of 0.99. The business has a fifty day moving average of $7.45 and a two-hundred day moving average of $7.22. Sprout Social, Inc. has a twelve month low of $4.92 and a twelve month high of $19.51.
Insider Transactions at Sprout Social
In other Sprout Social news, insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $8.28, for a total value of $331,200.00. Following the completion of the transaction, the insider directly owned 7,417 shares in the company, valued at approximately $61,412.76. The trade was a 84.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.60% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
SPT has been the topic of several recent research reports. Barclays increased their target price on shares of Sprout Social from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Sprout Social in a report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Sprout Social presently has an average rating of “Hold” and an average price target of $11.88.
Read Our Latest Stock Analysis on Sprout Social
Sprout Social Profile
Sprout Social (NASDAQ: SPT) is a Chicago-based software company specializing in social media management solutions for businesses of all sizes. The company provides a cloud-based platform designed to help organizations improve their social media presence through a suite of tools for content scheduling, community engagement, social listening and analytics. Sprout Social’s platform is built to streamline the workflows of marketing, customer care and public relations teams by providing a centralized hub for managing multiple social channels.
The company’s product offerings include publishing and scheduling capabilities that allow users to plan and automate social content across networks such as Facebook, Instagram, Twitter, LinkedIn and Pinterest.
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