Justyn Russell Howard Sells 20,000 Shares of Sprout Social (NASDAQ:SPT) Stock

Key Points

• Justyn Russell Howard sold 20,000 shares of Sprout Social at an average price of $11.81, totaling $236,200, and decreased his ownership by 72.95%.
• The stock price of Sprout Social decreased slightly to $11.69, with a significant decline from its one-year high of $36.30.
• Analysts have lowered their price targets for Sprout Social, with Canaccord Genuity reducing it from $30.00 to $25.00 and Goldman Sachs from $24.00 to $21.00.

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) insider Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $11.81, for a total value of $236,200.00. Following the transaction, the insider owned 7,417 shares of the company's stock, valued at $87,594.77. This represents a 72.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 stock was sold at an average price of $14.94, for a total value of $298,800.00.
• On Wednesday, September 3rd, Justyn Russell Howard sold 10,566 shares of Sprout Social stock. The stock was sold at an average price of $15.16, for a total value of $160,180.56.

Sprout Social Stock Performance

SPT traded down $0.07 during trading on Wednesday, hitting $11.69. The stock had a trading volume of 1,110,350 shares, compared to its average volume of 1,403,177. The company has a 50 day moving average price of $14.46 and a 200-day moving average price of $18.71. The firm has a market cap of $687.49 million, a price-to-earnings ratio of -12.31 and a beta of 0.84. Sprout Social, Inc. has a one year low of $11.63 and a one year high of $36.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.00 and a quick ratio of 1.00.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.03. The business had revenue of $111.78 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. As a group, research analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current year.

Hedge Funds Weigh In On Sprout Social

Several hedge funds have recently made changes to their positions in SPT. Brighton Jones LLC grew its position in shares of Sprout Social by 391.7% in the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company's stock valued at $1,105,000 after purchasing an additional 28,667 shares in the last quarter. GAMMA Investing LLC grew its position in Sprout Social by 19,500.0% during the first quarter. GAMMA Investing LLC now owns 9,016 shares of the company's stock worth $198,000 after buying an additional 8,970 shares in the last quarter. Rhumbline Advisers grew its position in Sprout Social by 9.6% during the first quarter. Rhumbline Advisers now owns 76,976 shares of the company's stock worth $1,693,000 after buying an additional 6,774 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Sprout Social by 31.0% during the first quarter. Harbor Capital Advisors Inc. now owns 12,499 shares of the company's stock worth $275,000 after buying an additional 2,955 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its holdings in shares of Sprout Social by 3.3% in the 1st quarter. Peregrine Capital Management LLC now owns 178,411 shares of the company's stock worth $3,923,000 after purchasing an additional 5,709 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SPT shares. Zacks Research downgraded Sprout Social from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sprout Social in a report on Wednesday. Canaccord Genuity Group decreased their price target on 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 cut their target price on Sprout Social from $24.00 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Finally, Oppenheimer decreased their target price on shares of Sprout Social from $32.00 to $23.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Sprout Social has an average rating of "Hold" and an average target price of $27.36.

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.

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