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

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Russell Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the completion of the transaction, the insider now directly owns 7,417 shares in the company, valued at $241,720.03. This trade represents a 84.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, January 15th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The shares were sold at an average price of $31.67, for a total value of $1,266,800.00.

Sprout Social Trading Down 3.1 %

Shares of SPT stock traded down $1.02 on Friday, hitting $31.58. The stock had a trading volume of 510,143 shares, compared to its average volume of 566,034. The company’s 50 day moving average price is $32.51 and its 200-day moving average price is $31.06. Sprout Social, Inc. has a 1 year low of $25.05 and a 1 year high of $68.41. 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 capitalization of $1.81 billion, a P/E ratio of -26.32 and a beta of 1.06.

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Piper Sandler dropped their target price on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Scotiabank assumed coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price on shares of Sprout Social in a research note on Wednesday, January 15th. Oppenheimer dropped their price target on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, December 3rd. Finally, Barclays reduced their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPT. Quarry LP boosted its stake in shares of Sprout Social by 100.9% in the 3rd quarter. Quarry LP now owns 1,573 shares of the company’s stock valued at $46,000 after buying an additional 790 shares during the period. US Bancorp DE grew its holdings in Sprout Social by 2,392.6% during the 4th quarter. US Bancorp DE now owns 1,695 shares of the company’s stock worth $52,000 after acquiring an additional 1,627 shares in the last quarter. KBC Group NV raised its holdings in shares of Sprout Social by 77.1% in the 4th quarter. KBC Group NV now owns 2,525 shares of the company’s stock valued at $78,000 after purchasing an additional 1,099 shares in the last quarter. Assetmark Inc. lifted its position in shares of Sprout Social by 27.5% during the 3rd quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock worth $108,000 after purchasing an additional 801 shares during the last quarter. Finally, Yarbrough Capital LLC purchased a new position in Sprout Social in the fourth quarter valued at $206,000.

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.