Insider Selling: Sprout Social, Inc. (NASDAQ:SPT) Insider Sells $799,600.00 in Stock

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $19.99, for a total transaction of $799,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at $148,265.83. This represents a 84.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Justyn Russell Howard also recently made the following trade(s):

• On Thursday, February 6th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The shares were sold at an average price of $32.59, for a total value of $1,303,600.00.
• On Wednesday, January 15th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00.

Sprout Social Trading Down 1.4 %

Shares of NASDAQ SPT traded down $0.28 during mid-day trading on Monday, reaching $19.94. 1,267,676 shares of the company’s stock were exchanged, compared to its average volume of 746,710. The company’s 50-day moving average is $27.62 and its 200-day moving average is $29.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -16.62 and a beta of 1.11. Sprout Social, Inc. has a 52-week low of $18.85 and a 52-week high of $59.04.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. Analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SPT shares. Piper Sandler decreased their price objective on Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group boosted their price target on shares of Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Barclays dropped their price objective on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC decreased their target price on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Scotiabank cut their price target on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sprout Social currently has an average rating of “Hold” and an average target price of $33.85.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds have recently made changes to their positions in SPT. GAMMA Investing LLC lifted its stake in Sprout Social by 19,500.0% during the first quarter. GAMMA Investing LLC now owns 9,016 shares of the company’s stock worth $198,000 after purchasing an additional 8,970 shares in the last quarter. Versant Capital Management Inc lifted its stake in Sprout Social by 1,319.4% during the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company’s stock worth $32,000 after acquiring an additional 1,359 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Sprout Social during the 4th quarter worth about $4,296,000. Woodline Partners LP purchased a new position in Sprout Social during the 4th quarter valued at about $233,000. Finally, Two Sigma Advisers LP grew its position in Sprout Social by 96.4% in the 4th quarter. Two Sigma Advisers LP now owns 110,600 shares of the company’s stock valued at $3,397,000 after acquiring an additional 54,300 shares in the last quarter.

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.