Sprout Social, Inc. (NASDAQ:SPT) Director Sells $581,218.68 in Stock

Sprout Social, Inc. (NASDAQ:SPT) Director Aaron Edward Frederick Rankin sold 23,646 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the sale, the director now directly 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 legal filing with the SEC, which is accessible through this link.

Sprout Social Trading Down 0.5 %

NASDAQ:SPT opened at $25.09 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.45 billion, a PE ratio of -20.91 and a beta of 1.11. The firm’s 50 day moving average is $29.62 and its 200 day moving average is $29.74. Sprout Social, Inc. has a 12 month low of $22.95 and a 12 month high of $62.34.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). The company had revenue of $107.09 million during the quarter, compared to the consensus estimate 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 expect that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Institutional Investors Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jefferies Financial Group Inc. bought a new stake in Sprout Social during the 4th quarter valued at $4,296,000. Woodline Partners LP bought a new stake in Sprout Social during the 4th quarter valued at $233,000. Two Sigma Advisers LP raised its holdings in Sprout Social by 96.4% during the 4th quarter. Two Sigma Advisers LP now owns 110,600 shares of the company’s stock valued at $3,397,000 after acquiring an additional 54,300 shares during the period. ProShare Advisors LLC raised its holdings in Sprout Social by 49.9% during the 4th quarter. ProShare Advisors LLC now owns 14,459 shares of the company’s stock valued at $444,000 after acquiring an additional 4,811 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in Sprout Social by 110.7% during the 4th quarter. Nuveen Asset Management LLC now owns 454,162 shares of the company’s stock valued at $13,947,000 after acquiring an additional 238,650 shares during the period.

Wall Street Analyst Weigh In

SPT has been the subject of several research reports. Scotiabank reduced their target price on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group reduced their target price on Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Barclays cut their price target on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group cut their price target on 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, Morgan Stanley cut their price target on 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 assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus 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.