Sprout Social, Inc. (NASDAQ:SPT) Insider Sells $1,303,600.00 in Stock

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00. Following the sale, the insider now directly owns 7,417 shares of the company’s stock, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 Stock Down 3.1 %

NASDAQ:SPT opened at $31.58 on Monday. The company has a market cap of $1.81 billion, a PE ratio of -26.32 and a beta of 1.06. The stock has a 50-day simple moving average of $32.50 and a 200 day simple moving average of $30.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. Sprout Social, Inc. has a 52-week low of $25.05 and a 52-week high of $68.41.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPT. Oppenheimer cut their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 3rd. Scotiabank began coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price on the stock. Piper Sandler decreased their price target on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Morgan Stanley raised their price objective on Sprout Social from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Sprout Social in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $39.58.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SPT. Ceera Investments LLC lifted its position in Sprout Social by 85.0% during the 4th quarter. Ceera Investments LLC now owns 18,160 shares of the company’s stock worth $558,000 after buying an additional 8,343 shares in the last quarter. Amundi increased its position in shares of Sprout Social by 37.5% in the fourth quarter. Amundi now owns 34,699 shares of the company’s stock valued at $1,099,000 after acquiring an additional 9,464 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Sprout Social by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,620 shares of the company’s stock worth $265,000 after acquiring an additional 2,533 shares in the last quarter. Raymond James Financial Inc. bought a new position in Sprout Social in the fourth quarter valued at approximately $1,184,000. Finally, M&T Bank Corp grew its stake in Sprout Social by 52.0% in the fourth quarter. M&T Bank Corp now owns 56,157 shares of the company’s stock valued at $1,724,000 after purchasing an additional 19,213 shares in the last quarter.

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.