Quadrature Capital Ltd Purchases Shares of 42,441 Sprout Social (NYSE:SPT)

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Quadrature Capital Ltd purchased a new stake in shares of Sprout Social (NYSE:SPT) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 42,441 shares of the company’s stock, valued at approximately $1,146,000. Quadrature Capital Ltd owned about 0.08% of Sprout Social at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. UBS Group AG acquired a new position in shares of Sprout Social during the fourth quarter valued at about $29,000. Strs Ohio acquired a new position in shares of Sprout Social during the first quarter valued at about $38,000. Citigroup Inc. acquired a new position in shares of Sprout Social during the first quarter valued at about $45,000. Deutsche Bank AG acquired a new position in shares of Sprout Social during the first quarter valued at about $48,000. Finally, First Mercantile Trust Co. acquired a new position in shares of Sprout Social during the second quarter valued at about $58,000.

Several equities analysts have recently weighed in on SPT shares. Goldman Sachs Group upped their price objective on shares of Sprout Social from $27.00 to $35.00 in a report on Monday, June 29th. Morgan Stanley upped their target price on shares of Sprout Social from $23.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Canaccord Genuity upped their target price on shares of Sprout Social from $24.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. KeyCorp upped their target price on shares of Sprout Social from $27.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Finally, BTIG Research began coverage on shares of Sprout Social in a report on Monday, June 8th. They issued a “buy” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $33.44.

In other news, major shareholder Enterprise Associates 13 L. New sold 3,441,846 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $27.50, for a total transaction of $94,650,765.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Jamie Cannon Gilpin sold 1,278 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $40.70, for a total transaction of $52,014.60. The disclosure for this sale can be found here. Insiders have sold a total of 3,816,575 shares of company stock valued at $105,121,375 over the last three months.

NYSE:SPT traded down $1.98 on Friday, hitting $33.53. The stock had a trading volume of 786,900 shares, compared to its average volume of 502,268. Sprout Social has a 1 year low of $10.54 and a 1 year high of $41.87. The firm’s fifty day simple moving average is $30.99 and its two-hundred day simple moving average is $23.56.

Sprout Social (NYSE:SPT) last released its earnings results on Wednesday, August 5th. The company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.04.

About Sprout Social

Sprout Social, Inc designs and develops a platform for social media management. The company offers cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. It provides various integrated tools in a range of functions comprising social engagement/response, publishing, reporting and analytics, social listening and business intelligence, reputation management, employee advocacy, and automation and workflows.

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

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