Preto Joseph Del Sells 1,500 Shares of Sprout Social, Inc. (NASDAQ:SPT) Stock

Sprout Social, Inc. (NASDAQ:SPT) CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $29.81, for a total value of $44,715.00. Following the transaction, the chief financial officer now owns 162,624 shares in the company, valued at approximately $4,847,821.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Preto Joseph Del also recently made the following trade(s):

• On Monday, August 5th, Preto Joseph Del sold 1,500 shares of Sprout Social stock. The stock was sold at an average price of $31.02, for a total value of $46,530.00.
• On Monday, July 1st, Preto Joseph Del sold 1,500 shares of Sprout Social stock. The stock was sold at an average price of $36.66, for a total value of $54,990.00.

Sprout Social Stock Performance

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

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

Institutional Investors Weigh In On Sprout Social

A number of institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its position in Sprout Social by 3.9% in the second quarter. Clearbridge Investments LLC now owns 2,694,797 shares of the company’s stock worth $96,150,000 after purchasing an additional 100,890 shares during the period. Truist Financial Corp lifted its position in shares of Sprout Social by 6.1% during the 2nd quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock valued at $402,000 after acquiring an additional 646 shares during the last quarter. Quarry LP lifted its position in shares of Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after acquiring an additional 751 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Sprout Social by 6.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,792 shares of the company’s stock valued at $992,000 after acquiring an additional 1,617 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Sprout Social by 9,779.5% during the 2nd 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPT. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $46.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. Robert W. Baird boosted their price objective on Sprout Social from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. KeyCorp lowered Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Thursday, August 22nd. Finally, Barclays lowered their price objective on Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $51.31.

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.