Sprout Social, Inc. (NASDAQ:SPT) Insider Sells $1,266,800.00 in Stock

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the completion of the sale, the insider now directly owns 27,136 shares in the company, valued at $859,397.12. This trade represents a 59.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Sprout Social Trading Up 1.1 %

NASDAQ SPT opened at $32.62 on Friday. Sprout Social, Inc. has a 52 week low of $25.05 and a 52 week high of $68.41. The firm has a 50 day moving average of $31.66 and a two-hundred day moving average of $31.32. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.87 billion, a PE ratio of -27.18 and a beta of 1.03.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The business had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. As a group, research analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Sprout Social

Several hedge funds have recently added to or reduced their stakes in the stock. Yarbrough Capital LLC purchased a new stake in shares of Sprout Social during the 4th quarter worth approximately $206,000. Diversified Trust Co lifted its position in Sprout Social by 8.1% in the fourth quarter. Diversified Trust Co now owns 17,044 shares of the company’s stock valued at $523,000 after acquiring an additional 1,274 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Sprout Social by 324.0% in the third quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after acquiring an additional 307,906 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after acquiring an additional 200,190 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Sprout Social by 5.4% during the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock worth $576,000 after purchasing an additional 1,034 shares during the last quarter.

Analyst Upgrades and Downgrades

SPT has been the topic of a number of research analyst reports. Piper Sandler cut their target price on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Oppenheimer cut their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Sprout Social in a report on Wednesday. Barclays cut their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Morgan Stanley increased their price target on shares of Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.54.

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.