Sprout Social (NASDAQ:SPT) Shares Gap Down to $55.11

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $55.11, but opened at $53.16. Sprout Social shares last traded at $51.60, with a volume of 256,205 shares changing hands.

Analysts Set New Price Targets

SPT has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Sprout Social in a report on Wednesday, February 7th. They set a "buy" rating and a $76.00 price objective on the stock. Barclays dropped their price objective on shares of Sprout Social from $75.00 to $72.00 and set an "overweight" rating on the stock in a report on Wednesday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $75.00 price objective on shares of Sprout Social in a report on Tuesday. Canaccord Genuity Group reaffirmed a "buy" rating and set a $70.00 price objective on shares of Sprout Social in a report on Wednesday, February 21st. Finally, KeyCorp started coverage on shares of Sprout Social in a report on Thursday, March 21st. They set an "overweight" rating and a $83.00 price objective on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Sprout Social has an average rating of "Moderate Buy" and an average price target of $71.54.

Sprout Social Stock Performance

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. The company's 50-day moving average is $59.72 and its two-hundred day moving average is $56.80. The company has a market capitalization of $2.98 billion, a P/E ratio of -44.12 and a beta of 1.05.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The company had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative return on equity of 41.25% and a negative net margin of 19.91%. Equities analysts anticipate that Sprout Social, Inc. will post -1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social news, President Ryan Paul Barretto sold 5,600 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.63, for a total transaction of $333,928.00. Following the transaction, the president now directly owns 209,375 shares in the company, valued at $12,485,031.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Preto Joseph Del sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $59.71, for a total value of $89,565.00. Following the transaction, the chief financial officer now owns 127,322 shares in the company, valued at $7,602,396.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Ryan Paul Barretto sold 5,600 shares of the firm's stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $59.63, for a total transaction of $333,928.00. Following the completion of the transaction, the president now owns 209,375 shares in the company, valued at approximately $12,485,031.25. The disclosure for this sale can be found here. Insiders have sold 140,200 shares of company stock worth $8,171,958 over the last ninety days. Insiders own 11.93% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Sprout Social by 3.9% in the third quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company's stock worth $253,609,000 after purchasing an additional 191,471 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Sprout Social by 244.1% in the third quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company's stock worth $219,692,000 after acquiring an additional 3,124,376 shares during the period. BlackRock Inc. lifted its stake in Sprout Social by 1.7% in the first quarter. BlackRock Inc. now owns 3,958,956 shares of the company's stock worth $241,021,000 after acquiring an additional 67,321 shares during the period. Wellington Management Group LLP lifted its stake in Sprout Social by 27.5% in the third quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company's stock worth $197,183,000 after acquiring an additional 853,127 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in Sprout Social by 15.0% in the second quarter. Macquarie Group Ltd. now owns 2,779,197 shares of the company's stock worth $161,388,000 after acquiring an additional 363,381 shares during the period.

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.