Sprout Social, Inc. (NASDAQ:SPT) CEO Sells $570,000.00 in Stock

Sprout Social, Inc. (NASDAQ:SPT) CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction on Monday, May 6th. The shares were sold at an average price of $28.50, for a total value of $570,000.00. Following the sale, the chief executive officer now directly owns 406,636 shares of the company’s stock, valued at approximately $11,589,126. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, April 8th, Justyn Russell Howard sold 20,000 shares of Sprout Social stock. The shares were sold at an average price of $56.52, for a total value of $1,130,400.00.
• On Thursday, March 7th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00.

Sprout Social Stock Performance

NASDAQ:SPT traded down $0.19 during trading hours on Wednesday, reaching $26.90. The company had a trading volume of 3,062,395 shares, compared to its average volume of 828,972. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -21.52 and a beta of 1.09. Sprout Social, Inc. has a 52 week low of $25.68 and a 52 week high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The firm’s 50 day moving average price is $54.63 and its 200-day moving average price is $56.54.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The business had revenue of $93.58 million for the quarter, compared to analysts’ expectations of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. On average, analysts forecast that Sprout Social, Inc. will post -1.17 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its position in shares of Sprout Social by 244.1% in the third quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock valued at $219,692,000 after acquiring an additional 3,124,376 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Sprout Social by 27.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company’s stock worth $197,183,000 after purchasing an additional 853,127 shares in the last quarter. Fred Alger Management LLC boosted its stake in Sprout Social by 334.1% in the 3rd quarter. Fred Alger Management LLC now owns 667,462 shares of the company’s stock worth $33,293,000 after purchasing an additional 513,687 shares during the period. Jennison Associates LLC grew its holdings in Sprout Social by 17.0% during the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after buying an additional 311,146 shares in the last quarter. Finally, Shannon River Fund Management LLC purchased a new position in shares of Sprout Social in the third quarter worth $14,103,000.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPT. Canaccord Genuity Group cut their target price on Sprout Social from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Oppenheimer reduced their price objective on shares of Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Jefferies Financial Group started coverage on shares of Sprout Social in a report on Wednesday, February 7th. They issued a “buy” rating and a $76.00 price objective for the company. Robert W. Baird lowered Sprout Social from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $72.00 to $45.00 in a research report on Friday, May 3rd. Finally, Barclays decreased their price objective on Sprout Social from $72.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.07.

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.