Sprout Social, Inc. (NASDAQ:SPT) Director Aaron Edward Frederick Rankin Sells 23,646 Shares of Stock

Sprout Social, Inc. (NASDAQ:SPT) Director Aaron Edward Frederick Rankin sold 23,646 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the transaction, the director now directly owns 42,122 shares of the company’s stock, valued at approximately $1,035,358.76. This represents a 35.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sprout Social Stock Performance

NASDAQ SPT opened at $24.97 on Wednesday. The stock has a fifty day simple moving average of $29.88 and a 200-day simple moving average of $29.80. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.44 billion, a PE ratio of -20.81 and a beta of 1.11. Sprout Social, Inc. has a twelve month low of $22.95 and a twelve month high of $62.34.

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

Institutional Trading of Sprout Social

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Sprout Social by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 5,886,167 shares of the company’s stock worth $180,764,000 after buying an additional 141,141 shares during the period. Cadian Capital Management LP boosted its holdings in Sprout Social by 6.1% during the 4th quarter. Cadian Capital Management LP now owns 4,548,323 shares of the company’s stock valued at $139,679,000 after acquiring an additional 263,267 shares during the period. Wellington Management Group LLP grew its position in Sprout Social by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock valued at $109,374,000 after acquiring an additional 519,406 shares in the last quarter. Dorsey Asset Management LLC increased its stake in Sprout Social by 16.7% during the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock worth $70,822,000 after purchasing an additional 330,155 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Sprout Social by 0.3% during the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company’s stock worth $66,689,000 after purchasing an additional 7,311 shares in the last quarter.

Analyst Ratings Changes

SPT has been the subject of a number of recent research reports. Jefferies Financial Group increased their target price on shares of Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Oppenheimer cut their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, December 3rd. Needham & Company LLC lowered their target price on Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Piper Sandler cut their price target on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered their price objective on Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sprout Social currently has a consensus rating of “Hold” and a consensus target price of $33.85.

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.