Sprout Social, Inc. (NASDAQ:SPT) CEO Sells $722,600.00 in Stock

Sprout Social, Inc. (NASDAQ:SPT) CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $36.13, for a total transaction of $722,600.00. Following the sale, the chief executive officer now owns 398,229 shares of the company’s stock, valued at approximately $14,388,013.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Thursday, June 6th, Justyn Russell Howard sold 20,000 shares of Sprout Social stock. The stock was sold at an average price of $34.05, for a total transaction of $681,000.00.
• On Monday, May 6th, Justyn Russell Howard sold 20,000 shares of Sprout Social stock. The stock was sold at an average price of $28.50, for a total transaction of $570,000.00.

Sprout Social Stock Performance

Shares of SPT stock opened at $34.53 on Friday. The company’s fifty day simple moving average is $32.66 and its 200-day simple moving average is $49.91. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The firm has a market cap of $1.95 billion, a PE ratio of -27.62 and a beta of 1.00. Sprout Social, Inc. has a 12 month low of $25.68 and a 12 month high of $68.41.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Thursday, May 2nd. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.10. The business had revenue of $96.78 million for the quarter, compared to the consensus estimate of $97.29 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.51%. Equities research analysts expect that Sprout Social, Inc. will post -0.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SPT. BTIG Research lowered shares of Sprout Social from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. Barclays reduced their price objective on shares of Sprout Social from $72.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Morgan Stanley reduced their price objective on shares of Sprout Social from $65.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Friday, May 3rd. Robert W. Baird reduced their price objective on shares of Sprout Social from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, Cantor Fitzgerald cut their price target on shares of Sprout Social from $74.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.57.

Hedge Funds Weigh In On Sprout Social

Institutional investors and hedge funds have recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in shares of Sprout Social in the first quarter valued at $27,000. EntryPoint Capital LLC bought a new stake in shares of Sprout Social in the first quarter valued at about $37,000. Covestor Ltd boosted its position in shares of Sprout Social by 35,450.0% in the first quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after acquiring an additional 709 shares during the period. Bessemer Group Inc. bought a new stake in shares of Sprout Social in the first quarter valued at about $61,000. Finally, Arcadia Investment Management Corp MI boosted its position in shares of Sprout Social by 36.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after acquiring an additional 281 shares during the period.

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.