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

Key Points

• Sprout Social insider Justyn Russell Howard sold 40,000 shares at an average price of $11.31, totaling $452,400. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced his direct stake by 84.36% to 7,417 shares.
• Sprout Social shares rose 1.1% to $11.53 in Thursday trading. The company’s latest quarterly results beat estimates, reporting EPS of $0.45 versus a $0.29 consensus and revenue of $125.15 million versus $123.83 million expected.
• Analysts’ consensus rating is Hold, with an average price target of $12.17; ratings range from Sell to Strong Buy.

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) insider Justyn Howard sold 40,000 shares of the stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $11.31, for a total transaction of $452,400.00. Following the transaction, the insider directly owned 7,417 shares of the company's stock, valued at $83,886.27. The trade was a 84.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 9th, Justyn Howard sold 40,000 shares of Sprout Social stock. The shares were sold at an average price of $11.02, for a total value of $440,800.00.
• On Wednesday, September 2nd, Justyn Howard sold 10,895 shares of Sprout Social stock. The stock was sold at an average price of $11.45, for a total value of $124,747.75.

Sprout Social Trading Up 1.1%

Shares of SPT traded up $0.12 during midday trading on Thursday, hitting $11.53. 648,883 shares of the stock were exchanged, compared to its average volume of 1,371,896. Sprout Social, Inc. has a 52-week low of $4.92 and a 52-week high of $13.35. The stock has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $8.32. The firm has a market cap of $698.63 million, a P/E ratio of -25.62, a P/E/G ratio of 1.15 and a beta of 0.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 0.91.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.16. Sprout Social had a positive return on equity of 1.11% and a negative net margin of 5.42%. The firm had revenue of $125.15 million for the quarter, compared to the consensus estimate of $123.83 million. On average, research analysts anticipate that Sprout Social, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SPT. KeyCorp lifted their price objective on shares of Sprout Social from $7.00 to $10.00 and gave the company an "underweight" rating in a report on Wednesday, November 4th. Morgan Stanley boosted their price target on shares of Sprout Social from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $14.00 price objective on shares of Sprout Social in a research report on Wednesday, November 4th. Canaccord Genuity Group increased their price objective on Sprout Social from $10.00 to $13.50 and gave the company a "hold" rating in a research note on Wednesday, November 4th. Finally, Wall Street Zen upgraded Sprout Social from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.17.

Institutional Trading of Sprout Social

Hedge funds have recently added to or reduced their stakes in the company. Haveli Investment Management LLC acquired a new position in Sprout Social during the 2nd quarter worth approximately $16,405,033. Renaissance Technologies LLC lifted its position in shares of Sprout Social by 79.4% during the 1st quarter. Renaissance Technologies LLC now owns 727,762 shares of the company's stock worth $4,148,000 after purchasing an additional 322,200 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Sprout Social by 46.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 442,496 shares of the company's stock worth $2,522,000 after purchasing an additional 141,258 shares during the last quarter. Pale Fire Capital SE acquired a new position in shares of Sprout Social during the first quarter worth $1,960,000. Finally, Pacer Advisors Inc. acquired a new position in shares of Sprout Social during the first quarter worth $1,500,000.

About Sprout Social

Sprout Social, Inc. provides cloud-based software that helps organizations manage their social media presence. Its platform supports activities such as publishing and scheduling content, engaging with audiences, monitoring social conversations, and analyzing social media performance. The company's tools also include social listening, customer care, and employee advocacy capabilities. Sprout Social serves businesses and agencies across a range of industries, helping teams coordinate social media work and gather insights from interactions across social networks.

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