Justyn Russell Howard Sells 40,000 Shares of Sprout Social, Inc. (NASDAQ:SPT) Stock

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the transaction, the insider now directly owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. This trade represents a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Sprout Social Stock Up 2.1 %

SPT stock traded up $0.65 during midday trading on Thursday, hitting $32.27. 1,192,073 shares of the company’s stock were exchanged, compared to its average volume of 510,237. 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 firm has a 50 day moving average price of $31.52 and a 200-day moving average price of $31.35. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -26.89 and a beta of 1.03. Sprout Social, Inc. has a 12-month low of $25.05 and a 12-month high of $68.41.

Sprout Social (NASDAQ:SPT) last released its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The firm had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. On average, analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current year.

Institutional Investors Weigh In On Sprout Social

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP grew its stake in Sprout Social by 2,346.9% during the 2nd quarter. Quarry LP now owns 783 shares of the company’s stock worth $28,000 after buying an additional 751 shares during the last quarter. Assetmark Inc. grew its holdings in Sprout Social by 27.5% in the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after buying an additional 801 shares in the last quarter. Yarbrough Capital LLC acquired a new stake in Sprout Social in the 4th quarter valued at approximately $206,000. Canada Pension Plan Investment Board bought a new stake in Sprout Social during the 2nd quarter valued at $218,000. Finally, Entropy Technologies LP acquired a new position in Sprout Social during the 3rd quarter worth $265,000.

Analyst Ratings Changes

A number of analysts recently commented on SPT shares. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a research report on Wednesday. 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 research report on Tuesday, December 3rd. 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 report on Monday. Piper Sandler lowered their target price 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. Finally, Scotiabank initiated coverage on Sprout Social in a research note on Monday, November 18th. They set a “sector perform” rating and a $28.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $44.54.

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.