Panagora Asset Management Inc., an institutional investor, has increased its holdings in Sprout Social, Inc. by 15.3% during the first quarter of this year. The company now owns 190,870 shares of Sprout Social’s stock after purchasing an additional 25,398 shares. This represents approximately 0.35% of the company’s total worth, which amounts to $11,620,000.
Sprout Social recently released its quarterly earnings results on August 3rd. The company reported earnings per share (EPS) of ($0.23) for the quarter, surpassing analysts’ consensus estimates by $0.04. Despite this positive outcome, Sprout Social had a negative return on equity of 33.85% and a negative net margin of 17%. The company generated revenue of $79.32 million during the quarter, slightly exceeding analyst estimates of $78.69 million.
For the current fiscal year, analysts predict that Sprout Social will post -1.02 earnings per share on average.
In other news related to Sprout Social, CTO Aaron Edward Frederick Rankin sold 18,000 shares of the company’s stock in a transaction dated July 17th at an average price of $55.24 per share. This resulted in a total value of $994,320. Following this sale, Rankin now directly owns 43,600 shares valued at approximately $2,408,464. Another insider transaction involved CFO Preto Joseph Del selling 1,500 shares on August 7th at an average price of $46.62 per share for a total value of $69,930.
Overall, insiders have sold a significant amount—58,164 shares—of Sprout Social’s stock in the past three months with a total value of $2,897,603. Insiders now hold approximately 11.93% ownership stake in the company.
These transactions and changes in ownership are disclosed in filings with the Securities & Exchange Commission, which can be accessed through the provided hyperlink.
As of September 1, 2023, these updates reflect the recent activity and financial standing of Sprout Social, providing investors and stakeholders with valuable information to assess the company’s performance and outlook.
Sprout Social, Inc.
Updated on: 03/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm||Rating|
Robert W. Baird
Ownership Changes and Analyst Ratings for Sprout Social, Inc.
In recent news, Sprout Social, Inc. has seen several changes in its ownership as various institutional investors and hedge funds have adjusted their positions in the business. Notably, Raymond James & Associates increased its holdings in Sprout Social by 5.9% during the first quarter, acquiring an additional 1,428 shares that now amount to a value of $2.07 million.
The Bank of New York Mellon Corp also showed growth in its position with Sprout Social, experiencing a 3.3% increase during the same period. The bank now owns 434,219 shares valued at $34.79 million after adding an extra 13,742 shares to its portfolio.
PNC Financial Services Group Inc., on the other hand, raised its stake in Sprout Social by an astounding 105.9% during the first quarter. This increase saw PNC Financial acquire an additional 1,372 shares, bringing their total holdings to 2,668 shares worth approximately $213,000.
MetLife Investment Management LLC also contributed to the shift in ownership by enhancing its holdings in Sprout Social by 56.3%. As a result of this increase, MetLife now possesses 24,479 shares valued at $1.96 million.
Lastly, Rhumbline Advisers invested in Sprout Social during the first quarter and experienced a modest gain of 2.8%. With these added shares equating to a total of 46,537 valued at $3.73 million.
Sprout Social’s stock opened at $53.54 on Friday which is considerably lower than its recent high of $74.07 but above its low point of $37.00 over the past year. With a market capitalization of $2.98 billion and a price-earnings ratio (PE) of -59.49 plus a beta rating of 0.91 – indicating moderate volatility compared to the market – these figures show that the company is trading within a challenging range.
In regards to analyst opinions on Sprout Social, several brokerages have offered their ratings and insights. Cantor Fitzgerald decreased its price target from $46.00 to $44.00 in a recent research report, while Piper Sandler reiterated an “overweight” rating and set a target price of $56.00 for the stock.
Needham & Company LLC also reiterated its “buy” rating and assigned a target price of $75.00 for Sprout Social, whereas BTIG Research lowered its price objective from $76.00 to $70.00. Morgan Stanley had different outlook, increasing their target price from $52.00 to $55.00 and providing an “equal weight” rating.
According to Bloomberg.com, Sprout Social’s average rating is currently classified as a “Moderate Buy,” with analysts having a consensus price target of $61.82.
As this information provides insight into current market sentiment surrounding Sprout Social, potential investors may employ it as part of their decision-making process when considering buying or selling shares in the company.