Insider Selling: Sprout Social, Inc. (NASDAQ:SPT) Insider Sells 40,000 Shares of Stock

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction on 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 owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. This represents a 59.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Sprout Social Stock Performance

SPT opened at $32.62 on Friday. Sprout Social, Inc. has a 1-year low of $25.05 and a 1-year high of $68.41. The stock has a market cap of $1.87 billion, a P/E ratio of -27.18 and a beta of 1.03. The stock’s 50 day simple moving average is $31.66 and its 200 day simple moving average is $31.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96.

Sprout Social (NASDAQ:SPT) last posted its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share 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 during the quarter, compared to analyst estimates of $102.04 million. As a group, equities analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPT has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a research report on Wednesday. Barclays dropped their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Oppenheimer decreased their price target on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. Scotiabank assumed coverage on shares of Sprout Social in a research note on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective on the stock. Finally, Piper Sandler reduced their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Sprout Social currently has a consensus rating of “Hold” and a consensus target price of $44.54.

Institutional Investors Weigh In On Sprout Social

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of Sprout Social by 2.8% in the second quarter. Rhumbline Advisers now owns 71,399 shares of the company’s stock valued at $2,548,000 after purchasing an additional 1,911 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Sprout Social during the 2nd quarter worth approximately $1,959,000. Edgestream Partners L.P. purchased a new stake in Sprout Social in the 2nd quarter valued at approximately $969,000. Hsbc Holdings PLC grew its holdings in Sprout Social by 134.5% during the 2nd quarter. Hsbc Holdings PLC now owns 13,589 shares of the company’s stock valued at $472,000 after buying an additional 7,793 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in Sprout Social by 16.7% during the 2nd quarter. Brighton Jones LLC now owns 16,852 shares of the company’s stock valued at $601,000 after buying an additional 2,411 shares during 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.