Aaron Edward Frederick Rankin Sells 1,181 Shares of Sprout Social, Inc. (NASDAQ:SPT) Stock

Sprout Social, Inc. (NASDAQ:SPT) Director Aaron Edward Frederick Rankin sold 1,181 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $34,520.63. Following the sale, the director now directly owns 42,122 shares of the company’s stock, valued at $1,231,226.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sprout Social Stock Down 2.8 %

Shares of SPT traded down $0.80 during midday trading on Thursday, reaching $28.29. 681,307 shares of the stock were exchanged, compared to its average volume of 819,085. Sprout Social, Inc. has a 12-month low of $25.68 and a 12-month high of $68.41. The firm has a 50 day simple moving average of $34.35 and a 200-day simple moving average of $42.30. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.26. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -22.63 and a beta of 0.98.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Sprout Social had a negative return on equity of 44.38% and a negative net margin of 19.60%. The company had revenue of $99.40 million during the quarter, compared to the consensus estimate of $98.70 million. During the same period last year, the business earned ($0.23) EPS. The business’s quarterly revenue was up 25.3% on a year-over-year basis. Research analysts forecast that Sprout Social, Inc. will post -0.88 EPS for the current year.

Analysts Set New Price Targets

SPT has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Sprout Social in a report on Friday, August 2nd. Robert W. Baird upped their target price on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Barclays reduced their price objective on Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Finally, KeyCorp downgraded Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research note on Thursday, August 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $51.31.

Hedge Funds Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPT. Fidelis Capital Partners LLC acquired a new stake in shares of Sprout Social in the first quarter worth $27,000. EntryPoint Capital LLC bought a new position in Sprout Social in the 1st quarter worth $37,000. Covestor Ltd lifted its position in Sprout Social by 35,450.0% during the 1st quarter. Covestor Ltd now owns 711 shares of the company’s stock worth $42,000 after acquiring an additional 709 shares during the last quarter. Quarry LP boosted its holdings in Sprout Social by 2,346.9% during the second quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after acquiring an additional 751 shares during the period. Finally, Bessemer Group Inc. acquired a new stake in shares of Sprout Social in the first quarter valued at about $61,000.

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.