Sprout Social (NASDAQ:SPT) Shares Gap Down to $31.81

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $31.81, but opened at $29.13. Sprout Social shares last traded at $30.04, with a volume of 734,701 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Oppenheimer dropped their price objective on shares of Sprout Social from $76.00 to $43.00 and set an "outperform" rating on the stock in a research note on Friday, May 3rd. Cantor Fitzgerald dropped their target price on Sprout Social from $74.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, May 3rd. Barclays reduced their price target on Sprout Social from $72.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, May 3rd. Piper Sandler downgraded Sprout Social from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $66.00 to $40.00 in a research note on Friday, May 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $55.00 price target on shares of Sprout Social in a research note on Thursday, May 16th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $57.07.

Sprout Social Trading Down 2.4 %

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $49.00 and a two-hundred day moving average price of $55.63. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -24.10 and a beta of 1.09.

Sprout Social (NASDAQ:SPT - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. The company had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. As a group, research analysts forecast that Sprout Social, Inc. will post -0.91 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the sale, the chief executive officer now owns 287,912 shares of the company's stock, valued at approximately $16,802,544.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $58.36, for a total transaction of $2,334,400.00. Following the completion of the sale, the chief executive officer now directly owns 287,912 shares of the company's stock, valued at approximately $16,802,544.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $59.63, for a total transaction of $89,445.00. Following the completion of the transaction, the chief financial officer now directly owns 172,644 shares in the company, valued at approximately $10,294,761.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,600 shares of company stock valued at $5,738,830. 10.97% of the stock is currently owned by insiders.

Institutional Trading of Sprout Social

A number of institutional investors have recently bought and sold shares of SPT. Fidelis Capital Partners LLC purchased a new stake in shares of Sprout Social in the 1st quarter valued at about $27,000. RiverPark Advisors LLC acquired a new position in Sprout Social in the third quarter valued at $37,000. EntryPoint Capital LLC purchased a new stake in shares of Sprout Social in the first quarter valued at about $37,000. Guinness Atkinson Asset Management Inc acquired a new stake in shares of Sprout Social during the third quarter worth about $40,000. Finally, Covestor Ltd increased its position in Sprout Social by 35,450.0% in the 1st quarter. Covestor Ltd now owns 711 shares of the company's stock valued at $42,000 after acquiring an additional 709 shares during the period.

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.