Insider Selling: Sprout Social, Inc. (NASDAQ:SPT) CEO Sells 13,465 Shares of Stock

Sprout Social, Inc. (NASDAQ:SPT) CEO Ryan Paul Barretto sold 13,465 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $31.45, for a total value of $423,474.25. Following the transaction, the chief executive officer now owns 546,343 shares of the company’s stock, valued at $17,182,487.35. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Ryan Paul Barretto also recently made the following trade(s):

• On Monday, October 7th, Ryan Paul Barretto sold 16,800 shares of Sprout Social stock. The shares were sold at an average price of $28.25, for a total transaction of $474,600.00.

Sprout Social Stock Performance

Shares of NASDAQ SPT opened at $32.43 on Friday. Sprout Social, Inc. has a fifty-two week low of $25.05 and a fifty-two week high of $68.41. 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 business has a 50 day moving average price of $29.06 and a two-hundred day moving average price of $31.54.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The business had revenue of $102.64 million for the quarter, compared to analyst estimates of $102.04 million. Sell-side analysts predict that Sprout Social, Inc. will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Sprout Social

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in shares of Sprout Social by 5.4% in the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock worth $576,000 after buying an additional 1,034 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Sprout Social by 3.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 98,204 shares of the company’s stock valued at $2,855,000 after purchasing an additional 3,344 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Sprout Social by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company’s stock worth $34,179,000 after buying an additional 22,320 shares during the last quarter. M&T Bank Corp bought a new stake in Sprout Social during the third quarter worth approximately $1,074,000. Finally, Barclays PLC boosted its holdings in Sprout Social by 339.5% during the third quarter. Barclays PLC now owns 90,234 shares of the company’s stock valued at $2,623,000 after acquiring an additional 69,704 shares during the period.

Wall Street Analysts Forecast Growth

SPT has been the topic of a number of research analyst reports. Piper Sandler dropped their target price on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, November 11th. Barclays cut their price target on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Scotiabank assumed coverage on shares of Sprout Social in a research report on Monday, November 18th. They set a “sector perform” rating and a $28.00 target price on the stock. Oppenheimer reduced their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Sprout Social currently has a consensus rating of “Hold” and an average target price of $45.46.

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.