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 Sprout Social stock in a transaction 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 owns 27,136 shares in the company, valued at approximately $859,397.12. This trade represents a 59.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Sprout Social Price Performance

SPT stock opened at $32.62 on Friday. 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 company’s 50-day moving average is $31.54 and its 200-day moving average is $31.35. The stock has a market capitalization of $1.87 billion, a PE ratio of -27.18 and a beta of 1.03. Sprout Social, Inc. has a 1 year low of $25.05 and a 1 year high of $68.41.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share 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 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%. Equities research analysts expect that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Institutional Trading of Sprout Social

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Impax Asset Management Group plc boosted its position in shares of Sprout Social by 46.6% during the third quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock valued at $5,486,000 after buying an additional 60,000 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Sprout Social by 324.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock worth $11,714,000 after acquiring an additional 307,906 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Sprout Social by 20.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock worth $34,868,000 after acquiring an additional 200,190 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Sprout Social in the 3rd quarter worth $1,074,000. Finally, Zacks Investment Management purchased a new stake in shares of Sprout Social in the third quarter valued at about $2,120,000.

Analysts Set New Price Targets

Several research analysts have commented on SPT shares. Piper Sandler cut their target price on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a report on Wednesday. Barclays lowered their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Morgan Stanley upped their price objective on shares of Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Finally, Scotiabank assumed coverage on shares of Sprout Social in a research note on Monday, November 18th. They set a “sector perform” rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.54.

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.