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 company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $21.65, for a total transaction of $866,000.00. Following the completion of the transaction, the insider now owns 7,417 shares in the company, valued at approximately $160,578.05. The trade was a 84.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 value of $799,600.00.

Sprout Social Price Performance

Shares of NASDAQ:SPT traded down $0.08 during midday trading on Friday, reaching $21.78. 119,116 shares of the company's stock were exchanged, compared to its average volume of 626,973. Sprout Social, Inc. has a 12 month low of $18.52 and a 12 month high of $39.75. 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 firm has a market capitalization of $1.27 billion, a PE ratio of -18.13 and a beta of 1.04. The company's 50 day simple moving average is $21.27 and its two-hundred day simple moving average is $27.14.

Sprout Social (NASDAQ:SPT - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.07. The business 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%. Sprout Social's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 EPS. Equities research analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SPT has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $24.00 price target on shares of Sprout Social in a research note on Tuesday. Canaccord Genuity Group lowered their price target on Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Scotiabank decreased their target price on Sprout Social from $28.00 to $25.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. Piper Sandler lowered their target price on Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, Stifel Nicolaus cut their price target on Sprout Social from $45.00 to $34.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $30.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in Sprout Social in the fourth quarter valued at about $338,000. Barclays PLC raised its holdings in shares of Sprout Social by 339.5% during the third quarter. Barclays PLC now owns 90,234 shares of the company's stock worth $2,623,000 after acquiring an additional 69,704 shares during the period. Brighton Jones LLC lifted its position in 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Sprout Social in the 4th quarter worth $1,184,000. Finally, Deutsche Bank AG increased its holdings in Sprout Social by 84.5% during the 4th quarter. Deutsche Bank AG now owns 51,367 shares of the company's stock worth $1,577,000 after purchasing an additional 23,525 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.