Sprout Social, Inc. (NASDAQ:SPT) Short Interest Update

Sprout Social, Inc. (NASDAQ:SPT) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 3,470,000 shares, a decrease of 23.4% from the February 28th total of 4,530,000 shares. Approximately 6.8% of the shares of the stock are short sold. Based on an average trading volume of 621,700 shares, the days-to-cover ratio is currently 5.6 days.

Sprout Social Stock Performance

SPT traded down $0.04 on Tuesday, hitting $21.95. 65,860 shares of the company traded hands, compared to its average volume of 627,475. The stock has a market capitalization of $1.27 billion, a PE ratio of -18.28 and a beta of 1.11. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $28.57 and a 200-day moving average of $29.59. Sprout Social has a 12-month low of $21.51 and a 12-month high of $59.04.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share 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 analyst estimates of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. Sell-side analysts anticipate that Sprout Social will post -0.99 earnings per share for the current year.

Insider Transactions at Sprout Social

In other news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $24.58, for a total transaction of $581,218.68. Following the transaction, the director now owns 42,122 shares in the company, valued at $1,035,358.76. This trade represents a 35.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Justyn Russell Howard sold 40,000 shares of the business’s 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 completion of the sale, the insider now directly owns 27,136 shares of the company’s stock, valued at approximately $859,397.12. The trade was a 59.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,646 shares of company stock valued at $3,302,919 in the last ninety days. 10.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sprout Social

A number of large investors have recently added to or reduced their stakes in the business. Stifel Financial Corp increased its position in Sprout Social by 0.4% during the fourth quarter. Stifel Financial Corp now owns 83,141 shares of the company’s stock worth $2,553,000 after buying an additional 351 shares in the last quarter. Invesco Ltd. lifted its holdings in Sprout Social by 1.8% in the 4th quarter. Invesco Ltd. now owns 22,861 shares of the company’s stock valued at $702,000 after purchasing an additional 397 shares in the last quarter. Quarry LP grew its holdings in shares of Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company’s stock worth $46,000 after buying an additional 790 shares in the last quarter. Franklin Resources Inc. raised its position 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 valued at $576,000 after buying an additional 1,034 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Sprout Social by 3.0% during the fourth quarter. Sei Investments Co. now owns 35,893 shares of the company’s stock worth $1,102,000 after acquiring an additional 1,038 shares during the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on Sprout Social from $34.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler dropped their target price on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Barclays reduced their target price on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group lowered their price target on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley dropped their price objective on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Sprout Social has an average rating of “Hold” and an average 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.