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 the business’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $19.99, for a total transaction of $799,600.00. Following the completion of the transaction, the insider now owns 7,417 shares of the company’s stock, valued at approximately $148,265.83. This trade represents a 84.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, February 6th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The shares were sold at an average price of $32.59, for a total value of $1,303,600.00.
• On Wednesday, January 15th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00.

Sprout Social Stock Performance

NASDAQ:SPT traded down $0.28 during mid-day trading on Monday, reaching $19.94. 1,267,676 shares of the stock were exchanged, compared to its average volume of 746,710. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social, Inc. has a 1 year low of $18.85 and a 1 year high of $59.04. The company has a 50 day simple moving average of $27.62 and a 200-day simple moving average of $29.39. The stock has a market capitalization of $1.15 billion, a P/E ratio of -16.62 and a beta of 1.11.

Sprout Social (NASDAQ:SPT) last announced its earnings results 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). The business had revenue of $107.09 million for the quarter, compared to analysts’ expectations of $106.74 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 fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Scotiabank lowered their price objective on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. Barclays dropped their price objective on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Stifel Nicolaus reduced their price objective on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Canaccord Genuity Group lowered their target price on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler cut their price target on Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.85.

Institutional Investors Weigh In On Sprout Social

Hedge funds have recently made changes to their positions in the business. ArrowMark Colorado Holdings LLC increased its position in Sprout Social by 380.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 1,772,219 shares of the company’s stock valued at $54,425,000 after acquiring an additional 1,403,549 shares during the period. Wellington Management Group LLP increased its holdings in shares of Sprout Social by 16.0% in the third quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock valued at $109,374,000 after purchasing an additional 519,406 shares during the period. Norges Bank purchased a new stake in shares of Sprout Social during the fourth quarter worth approximately $13,422,000. Dorsey Asset Management LLC lifted its holdings in shares of Sprout Social by 16.7% during the fourth quarter. Dorsey Asset Management LLC now owns 2,306,149 shares of the company’s stock worth $70,822,000 after purchasing an additional 330,155 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Sprout Social by 324.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after buying an additional 307,906 shares during the last quarter.

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.