Sprout Social (NASDAQ:SPT) Sees Unusually-High Trading Volume

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) saw unusually-high trading volume on Monday . Approximately 523,004 shares changed hands during trading, a decline of 30% from the previous session's volume of 748,775 shares.The stock last traded at $29.49 and had previously closed at $28.82.

Analysts Set New Price Targets

SPT has been the subject of a number of recent research reports. The Goldman Sachs Group cut shares of Sprout Social from a "buy" rating to a "neutral" rating and lowered their price target for the company from $80.00 to $44.00 in a research report on Friday. BTIG Research cut shares of Sprout Social from a "buy" rating to a "neutral" rating in a research report on Friday. Robert W. Baird cut shares of Sprout Social from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $72.00 to $45.00 in a research report on Friday. KeyCorp lowered shares of Sprout Social from an "overweight" rating to a "sector weight" rating in a research note on Friday. Finally, Piper Sandler lowered shares of Sprout Social from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $66.00 to $40.00 in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.07.

Sprout Social Price Performance

The firm's 50-day moving average is $55.98 and its 200-day moving average is $56.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $1.59 billion, a P/E ratio of -22.62 and a beta of 1.09.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $93.58 million for the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. Analysts predict that Sprout Social, Inc. will post -1.17 EPS for the current fiscal year.

Insider Buying and Selling at Sprout Social

In other Sprout Social 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 transaction, the chief executive officer now owns 287,912 shares of the company's stock, valued at $16,802,544.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sprout Social 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 transaction, the chief executive officer now owns 287,912 shares of the company's stock, valued at $16,802,544.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $59.63, for a total transaction of $89,445.00. Following 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. Insiders have sold 89,100 shares of company stock valued at $5,126,065 over the last 90 days. 10.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sprout Social

Several hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. raised its stake in Sprout Social by 244.1% during the third quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company's stock valued at $219,692,000 after purchasing an additional 3,124,376 shares in the last quarter. Wellington Management Group LLP raised its stake in Sprout Social by 27.5% during the third quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company's stock valued at $197,183,000 after purchasing an additional 853,127 shares in the last quarter. Fred Alger Management LLC raised its stake in Sprout Social by 334.1% during the third quarter. Fred Alger Management LLC now owns 667,462 shares of the company's stock valued at $33,293,000 after purchasing an additional 513,687 shares in the last quarter. Jennison Associates LLC raised its stake in Sprout Social by 17.0% during the first quarter. Jennison Associates LLC now owns 2,137,422 shares of the company's stock valued at $127,625,000 after purchasing an additional 311,146 shares in the last quarter. Finally, Shannon River Fund Management LLC purchased a new stake in Sprout Social during the third quarter valued at $14,103,000.

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.