Sprout Social (NASDAQ:SPT) Shares Gap Down to $31.81

Sprout Social, Inc. (NASDAQ:SPT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $31.81, but opened at $29.13. Sprout Social shares last traded at $30.04, with a volume of 734,701 shares traded.

Analyst Ratings Changes

Several analysts have commented on the stock. BTIG Research lowered shares of Sprout Social from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. Cantor Fitzgerald lowered their price objective on shares of Sprout Social from $74.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Jefferies Financial Group assumed coverage on shares of Sprout Social in a research report on Wednesday, February 7th. They issued a “buy” rating and a $76.00 price objective on the stock. Canaccord Genuity Group lowered their price objective on shares of Sprout Social from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Finally, Piper Sandler lowered shares of Sprout Social from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $66.00 to $40.00 in a research report on Friday, May 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.07.

Sprout Social Stock Up 3.3 %

The stock’s fifty day moving average is $48.01 and its 200 day moving average is $55.36. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $1.81 billion, a P/E ratio of -25.66 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. The company had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Research analysts predict that Sprout Social, Inc. will post -0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sprout Social news, CEO Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00. Following the completion of the transaction, the chief executive officer now directly owns 287,912 shares in the company, valued at approximately $16,802,544.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Justyn Russell Howard sold 40,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00. Following the completion of the transaction, the chief executive officer now directly owns 287,912 shares in the company, valued at approximately $16,802,544.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $28.51, for a total transaction of $42,765.00. Following the completion of the transaction, the chief financial officer now owns 171,144 shares of the company’s stock, valued at $4,879,315.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,600 shares of company stock worth $5,738,830. 10.97% of the stock is currently owned by corporate insiders.

Institutional Trading of Sprout Social

Institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new stake in Sprout Social during the 1st quarter valued at about $27,000. RiverPark Advisors LLC purchased a new stake in shares of Sprout Social during the 3rd quarter valued at about $37,000. EntryPoint Capital LLC purchased a new stake in shares of Sprout Social during the 1st quarter valued at about $37,000. Guinness Atkinson Asset Management Inc purchased a new stake in shares of Sprout Social during the 3rd quarter valued at about $40,000. Finally, Covestor Ltd boosted its holdings in shares of Sprout Social by 35,450.0% during the 1st quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after acquiring an additional 709 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.