Insider Selling: Sprout Social, Inc. (NASDAQ:SPT) CFO Sells 1,500 Shares of Stock

Sprout Social, Inc. (NASDAQ:SPT) CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $28.51, for a total transaction of $42,765.00. Following the completion of the sale, the chief financial officer now directly owns 171,144 shares of the company’s stock, valued at $4,879,315.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Preto Joseph Del also recently made the following trade(s):

• On Monday, April 1st, Preto Joseph Del sold 1,500 shares of Sprout Social stock. The stock was sold at an average price of $59.63, for a total value of $89,445.00.

Sprout Social Stock Performance

SPT stock traded down $0.19 during midday trading on Wednesday, hitting $26.90. The stock had a trading volume of 3,062,395 shares, compared to its average volume of 828,972. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -21.52 and a beta of 1.09. Sprout Social, Inc. has a 52 week low of $25.68 and a 52 week high of $68.41. The stock has a 50-day simple moving average of $54.63 and a 200 day simple moving average of $56.54. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The firm had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. As a group, equities research analysts anticipate that Sprout Social, Inc. will post -1.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in shares of Sprout Social by 7.6% in the third quarter. Bank of New York Mellon Corp now owns 401,057 shares of the company’s stock valued at $20,005,000 after buying an additional 28,466 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Sprout Social by 16.7% in the third quarter. Verdence Capital Advisors LLC now owns 7,120 shares of the company’s stock valued at $355,000 after buying an additional 1,020 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sprout Social by 15.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,115 shares of the company’s stock valued at $505,000 after buying an additional 1,389 shares during the last quarter. Brighton Jones LLC bought a new position in shares of Sprout Social in the third quarter valued at about $423,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Sprout Social by 2.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 50,940 shares of the company’s stock valued at $2,541,000 after buying an additional 1,425 shares during the last quarter.

Wall Street Analysts Forecast Growth

SPT has been the topic of a number of research reports. William Blair restated a “market perform” rating on shares of Sprout Social in a report on Friday, May 3rd. Cantor Fitzgerald dropped their price objective on Sprout Social from $74.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Canaccord Genuity Group dropped their price objective on Sprout Social from $70.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. BTIG Research downgraded Sprout Social from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. Finally, The Goldman Sachs Group downgraded Sprout Social from a “buy” rating to a “neutral” rating and lowered their price target for the company from $80.00 to $44.00 in a report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Sprout Social currently has a consensus rating of “Moderate Buy” and an average price target of $57.07.

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.