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 company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. This represents a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Sprout Social Trading Up 2.1 %

Sprout Social stock traded up $0.65 during midday trading on Thursday, reaching $32.27. The stock had a trading volume of 1,192,073 shares, compared to its average volume of 510,237. Sprout Social, Inc. has a twelve month low of $25.05 and a twelve month high of $68.41. 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 firm has a market cap of $1.85 billion, a price-to-earnings ratio of -26.89 and a beta of 1.03. The firm’s fifty day simple moving average is $31.52 and its two-hundred day simple moving average is $31.35.

Sprout Social (NASDAQ:SPT) last issued its earnings results on Thursday, November 7th. The company reported ($0.28) EPS 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 during the quarter, compared to analyst estimates of $102.04 million. Equities analysts anticipate that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SPT shares. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a research report on Wednesday. Piper Sandler cut their price objective on Sprout Social from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, November 11th. Scotiabank began coverage on Sprout Social in a report on Monday, November 18th. They set a “sector perform” rating and a $28.00 target price on the stock. Morgan Stanley upped their price target on shares of Sprout Social from $36.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Oppenheimer reduced their price objective on shares of Sprout Social from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, December 3rd. One research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $44.54.

Hedge Funds Weigh In On Sprout Social

Institutional investors and hedge funds have recently bought and sold shares of the business. Dorsey Asset Management LLC purchased a new position in Sprout Social during the second quarter valued at approximately $61,583,000. Wellington Management Group LLP boosted its stake in shares of Sprout Social by 16.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company’s stock valued at $109,374,000 after buying an additional 519,406 shares during the period. ArrowMark Colorado Holdings LLC purchased a new position in shares of Sprout Social during the 3rd quarter valued at $10,717,000. Millennium Management LLC increased its stake in shares of Sprout Social by 9,779.5% in the second quarter. Millennium Management LLC now owns 331,260 shares of the company’s stock worth $11,819,000 after acquiring an additional 327,907 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Sprout Social by 324.0% during the third 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 in 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.