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 dated Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the sale, the insider now directly owns 27,136 shares of the company’s stock, valued at $859,397.12. This represents a 59.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sprout Social Stock Up 2.1 %

Shares of SPT stock opened at $32.27 on Friday. 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 firm’s 50-day moving average is $31.52 and its two-hundred day moving average is $31.35. Sprout Social, Inc. has a 12 month low of $25.05 and a 12 month high of $68.41.

Sprout Social (NASDAQ:SPT) last released its quarterly 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). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The firm had revenue of $102.64 million for the quarter, compared to analysts’ expectations of $102.04 million. Equities research analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Sprout Social

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dorsey Asset Management LLC acquired a new stake in shares of Sprout Social during the 2nd quarter worth about $61,583,000. Wellington Management Group LLP boosted its stake in Sprout Social by 16.0% during the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock worth $109,374,000 after buying an additional 519,406 shares during the period. ArrowMark Colorado Holdings LLC acquired a new stake in shares of Sprout Social during the third quarter valued at about $10,717,000. Millennium Management LLC increased its position in shares of Sprout Social by 9,779.5% during the second quarter. Millennium Management LLC now owns 331,260 shares of the company’s stock valued at $11,819,000 after acquiring an additional 327,907 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Sprout Social by 324.0% in the 3rd 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 period.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Oppenheimer lowered 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. Morgan Stanley boosted their price target on Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday. Scotiabank started coverage on Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective for the company. Piper Sandler lowered their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Finally, Barclays reduced their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.54.

Sprout Social Company Profile

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.