Insider Selling: Sprout Social (NASDAQ:SPT) Insider Sells $236,200.00 in Stock

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $11.81, for a total transaction of $236,200.00. Following the sale, the insider directly owned 7,417 shares in the company, valued at $87,594.77. The trade was a 72.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Justyn Russell Howard also recently made the following trade(s):

• On Friday, September 5th, Justyn Russell Howard sold 20,000 shares of Sprout Social stock. The shares were sold at an average price of $14.94, for a total transaction of $298,800.00.
• On Wednesday, September 3rd, Justyn Russell Howard sold 10,566 shares of Sprout Social stock. The shares were sold at an average price of $15.16, for a total transaction of $160,180.56.

Sprout Social Trading Down 7.6%

SPT opened at $10.85 on Friday. The stock has a market cap of $638.09 million, a PE ratio of -11.42 and a beta of 0.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $14.24 and a 200-day moving average of $18.52. Sprout Social, Inc. has a 52 week low of $10.75 and a 52 week high of $36.30.

Sprout Social (NASDAQ:SPT) last released its earnings results on Wednesday, August 6th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. The company had revenue of $111.78 million during the quarter, compared to analysts’ expectations of $110.93 million. Sprout Social had a negative return on equity of 25.95% and a negative net margin of 12.70%.The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. Equities research analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LLC bought a new stake in Sprout Social in the 2nd quarter worth about $259,000. Squarepoint Ops LLC bought a new stake in Sprout Social in the 2nd quarter worth about $1,721,000. State of Wyoming increased its holdings in Sprout Social by 184.3% in the 2nd quarter. State of Wyoming now owns 32,349 shares of the company’s stock worth $676,000 after buying an additional 20,969 shares in the last quarter. Caxton Associates LLP increased its holdings in Sprout Social by 262.2% in the 2nd quarter. Caxton Associates LLP now owns 59,033 shares of the company’s stock worth $1,234,000 after buying an additional 42,734 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in Sprout Social by 13.0% in the 2nd quarter. Headlands Technologies LLC now owns 18,573 shares of the company’s stock worth $388,000 after buying an additional 2,131 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on SPT. Oppenheimer decreased their price target on shares of Sprout Social from $32.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Canaccord Genuity Group decreased their price target on shares of Sprout Social from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. The Goldman Sachs Group decreased their price target on shares of Sprout Social from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Sprout Social in a research note on Wednesday. Finally, Zacks Research downgraded Sprout Social from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Sprout Social has an average rating of “Hold” and an average price target of $27.36.

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.