Insider Selling: Sprout Social, Inc. (NASDAQ:SPT) Director Sells 23,646 Shares of Stock

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

Sprout Social Stock Performance

NASDAQ:SPT traded up $0.46 during midday trading on Tuesday, hitting $24.97. The company’s stock had a trading volume of 445,283 shares, compared to its average volume of 706,770. Sprout Social, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $62.34. The firm’s 50 day moving average is $30.01 and its 200-day moving average is $29.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $1.44 billion, a P/E ratio of -20.81 and a beta of 1.11.

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

Institutional Investors Weigh In On Sprout Social

Several hedge funds have recently bought and sold shares of SPT. Assetmark Inc. boosted its position 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 purchasing an additional 801 shares in the last quarter. Quest Partners LLC boosted its position in Sprout Social by 61,042.9% in the 3rd quarter. Quest Partners LLC now owns 47,080 shares of the company’s stock worth $1,369,000 after purchasing an additional 47,003 shares in the last quarter. Jennison Associates LLC boosted its position in Sprout Social by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 2,164,256 shares of the company’s stock worth $62,915,000 after purchasing an additional 21,186 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Sprout Social by 17.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 219,194 shares of the company’s stock worth $6,372,000 after purchasing an additional 31,846 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in Sprout Social in the 3rd quarter worth approximately $448,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SPT shares. Scotiabank reduced their target price on shares of Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Barclays reduced their target price on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus reduced their target price on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group reduced their target price on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group cut their price objective on shares of Sprout Social from $34.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.