Nuveen Asset Management LLC Increases Stock Position in Sprout Social, Inc. (NASDAQ:SPT)

Posted by Defense World Staff on Feb 28th, 2023

Nuveen Asset Management LLC grew its holdings in Sprout Social, Inc. (NASDAQ:SPT – Get Rating) by 21.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 570,402 shares of the company’s stock after purchasing an additional 102,657 shares during the period. Nuveen Asset Management LLC owned about 1.05% of Sprout Social worth $34,612,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SPT. First Horizon Advisors Inc. boosted its position in shares of Sprout Social by 433.7% during the second quarter. First Horizon Advisors Inc. now owns 443 shares of the company’s stock valued at $25,000 after buying an additional 360 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new stake in shares of Sprout Social during the 3rd quarter valued at about $28,000. Assetmark Inc. grew its stake in shares of Sprout Social by 138.9% in the second quarter. Assetmark Inc. now owns 497 shares of the company’s stock worth $29,000 after acquiring an additional 289 shares during the period. MCF Advisors LLC purchased a new position in shares of Sprout Social during the third quarter valued at approximately $31,000. Finally, Captrust Financial Advisors lifted its position in Sprout Social by 941.1% during the second quarter. Captrust Financial Advisors now owns 760 shares of the company’s stock valued at $44,000 after purchasing an additional 687 shares during the period. Hedge funds and other institutional investors own 86.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 8th. The stock was sold at an average price of $62.61, for a total value of $1,252,200.00. Following the transaction, the chief executive officer now directly owns 238,756 shares of the company’s stock, valued at approximately $14,948,513.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Sprout Social news, CTO Aaron Edward Frederick Rankin sold 871 shares of the stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $58.81, for a total transaction of $51,223.51. Following the completion of the transaction, the chief technology officer now owns 31,115 shares of the company’s stock, valued at approximately $1,829,873.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $62.61, for a total value of $1,252,200.00. Following the transaction, the chief executive officer now owns 238,756 shares of the company’s stock, valued at approximately $14,948,513.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,419 shares of company stock worth $3,263,328. 13.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SPT shares. Piper Sandler lifted their target price on shares of Sprout Social from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 22nd. KeyCorp increased their target price on Sprout Social from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. Barclays raised their target price on Sprout Social from $63.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Sprout Social in a research report on Wednesday, February 22nd. Finally, Canaccord Genuity Group raised their price objective on shares of Sprout Social from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, February 22nd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.67.

Sprout Social Price Performance

NASDAQ:SPT opened at $61.65 on Tuesday. The business’s 50-day simple moving average is $59.99 and its two-hundred day simple moving average is $60.06. Sprout Social, Inc. has a 52 week low of $38.39 and a 52 week high of $85.99.

Sprout Social Profile

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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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.