Justyn Russell Howard Sells 40,000 Shares of Sprout Social, Inc. (NASDAQ:SPT) Stock

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $21.65, for a total value of $866,000.00. Following the completion of the transaction, the insider now directly owns 7,417 shares of the company's stock, valued at approximately $160,578.05. The trade was a 84.36% decrease in their position. The transaction 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 Tuesday, June 3rd, Justyn Russell Howard sold 10,575 shares of Sprout Social stock. The stock was sold at an average price of $21.56, for a total value of $227,997.00.
• On Tuesday, May 6th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The shares were sold at an average price of $20.81, for a total transaction of $832,400.00.
• On Friday, April 4th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The stock was sold at an average price of $19.99, for a total transaction of $799,600.00.

Sprout Social Price Performance

Shares of NASDAQ SPT traded down $0.14 during mid-day trading on Friday, hitting $21.72. 418,106 shares of the stock were exchanged, compared to its average volume of 624,731. Sprout Social, Inc. has a twelve month low of $18.52 and a twelve month high of $39.75. The stock's fifty day simple moving average is $21.27 and its two-hundred day simple moving average is $27.05. 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 company has a market cap of $1.26 billion, a P/E ratio of -18.10 and a beta of 1.04.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.07. The firm had revenue of $109.29 million during the quarter, compared to analysts' expectations of $107.63 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The business's revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. As a group, analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Barclays PLC grew its stake in shares of Sprout Social by 339.5% during the third quarter. Barclays PLC now owns 90,234 shares of the company's stock valued at $2,623,000 after purchasing an additional 69,704 shares during the last quarter. Brighton Jones LLC raised its position in shares of Sprout Social by 391.7% in the 4th quarter. Brighton Jones LLC now owns 35,985 shares of the company's stock valued at $1,105,000 after acquiring an additional 28,667 shares during the period. KBC Group NV boosted its position in shares of Sprout Social by 77.1% during the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after purchasing an additional 1,099 shares in the last quarter. Jennison Associates LLC lifted its holdings in Sprout Social by 0.3% during the fourth quarter. Jennison Associates LLC now owns 2,171,567 shares of the company's stock worth $66,689,000 after acquiring an additional 7,311 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Sprout Social by 2.1% during the 4th quarter. Rhumbline Advisers now owns 70,202 shares of the company's stock valued at $2,156,000 after purchasing an additional 1,446 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Canaccord Genuity Group cut their target price on Sprout Social from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered their target price on Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Oppenheimer decreased their target price on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Stifel Nicolaus reduced their price objective on shares of Sprout Social from $45.00 to $34.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley lowered their price target on Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $30.00.

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.