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 stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total value of $581,218.68. Following the sale, the director now owns 42,122 shares in the company, valued at approximately $1,035,358.76. This represents a 35.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Sprout Social Stock Performance

NASDAQ:SPT opened at $25.21 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50-day simple moving average of $29.75 and a two-hundred day simple moving average of $29.77. The firm has a market capitalization of $1.46 billion, a PE ratio of -21.01 and a beta of 1.11. Sprout Social, Inc. has a 52-week low of $22.95 and a 52-week high of $62.34.

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

Institutional Trading of Sprout Social

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPT. Canaccord Genuity Group dropped their price objective on Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reduced their price target on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC lowered their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group cut their target price on shares of Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays lowered their price target on Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.