Insider Selling: Sprout Social, Inc. (NASDAQ:SPT) Insider Sells 40,000 Shares of Stock

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00. Following the sale, the insider now owns 27,136 shares in the company, valued at $859,397.12. This trade represents a 59.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Sprout Social Stock Performance

Shares of SPT opened at $32.62 on Friday. Sprout Social, Inc. has a 52-week low of $25.05 and a 52-week high of $68.41. The stock’s 50-day simple moving average is $31.54 and its 200 day simple moving average is $31.35. 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 market capitalization of $1.87 billion, a price-to-earnings ratio of -27.18 and a beta of 1.03.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). The firm had revenue of $102.64 million during the quarter, compared to analysts’ expectations of $102.04 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. Research analysts forecast 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 recently commented on the company. Oppenheimer lowered their target price on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 3rd. Scotiabank started coverage on shares of Sprout Social in a research report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price objective on the stock. Barclays reduced their target price on shares of Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target on shares of Sprout Social in a report on Wednesday. Finally, Piper Sandler reduced 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Sprout Social currently has a consensus rating of “Hold” and an average price target of $44.54.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Yarbrough Capital LLC purchased a new stake in shares of Sprout Social in the fourth quarter worth $206,000. Diversified Trust Co increased its stake in Sprout Social by 8.1% in the 4th quarter. Diversified Trust Co now owns 17,044 shares of the company’s stock worth $523,000 after acquiring an additional 1,274 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of 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 acquiring an additional 307,906 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Sprout Social by 20.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after acquiring an additional 200,190 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Sprout Social by 5.4% during the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock worth $576,000 after purchasing an additional 1,034 shares in the last quarter.

Sprout Social Company Profile

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.