Sprout Social, Inc. (NASDAQ:SPT) Short Interest Update

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 3,220,000 shares, a drop of 13.2% from the April 30th total of 3,710,000 shares. Approximately 6.3% of the shares of the stock are sold short. Based on an average daily volume of 783,100 shares, the short-interest ratio is presently 4.1 days.

Sprout Social Trading Down 0.9%

Sprout Social stock traded down $0.19 during trading on Friday, hitting $21.67. The company's stock had a trading volume of 143,885 shares, compared to its average volume of 627,099. The stock's fifty day moving average is $21.27 and its 200 day moving average is $27.14. Sprout Social has a 1-year low of $18.52 and a 1-year high of $39.75. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -18.06 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.07. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $109.29 million during the quarter, compared to the consensus estimate of $107.63 million. During the same quarter in the prior year, the company posted $0.10 EPS. The company's quarterly revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts predict that Sprout Social will post -0.99 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on SPT. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 price target on shares of Sprout Social in a report on Wednesday, May 28th. Stifel Nicolaus reduced their target price on Sprout Social from $45.00 to $34.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Barclays lowered their target price on Sprout Social from $34.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Cantor Fitzgerald reissued a "neutral" rating and issued a $24.00 price target on shares of Sprout Social in a report on Tuesday. Finally, Oppenheimer reduced their price objective on Sprout Social from $38.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Sprout Social has a consensus rating of "Hold" and a consensus price target of $30.00.

Insider Activity at Sprout Social

In other news, Director Aaron Edward Frederick Rankin sold 23,646 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $24.58, for a total value of $581,218.68. Following the completion of the transaction, the director now owns 42,122 shares in the company, valued at $1,035,358.76. This trade represents a 35.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Monday, April 14th. The stock was sold at an average price of $19.42, for a total value of $97,100.00. Following the transaction, the director now directly owns 25,665 shares of the company's stock, valued at $498,414.30. This trade represents a 16.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 176,021 shares of company stock worth $3,738,636 over the last 90 days. Company insiders own 10.12% of the company's stock.

Institutional Investors Weigh In On Sprout Social

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of Sprout Social by 1,319.4% in the 1st quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock valued at $32,000 after acquiring an additional 1,359 shares during the period. Quarry LP increased its holdings in Sprout Social by 85.2% in the 1st quarter. Quarry LP now owns 1,463 shares of the company's stock valued at $32,000 after purchasing an additional 673 shares in the last quarter. US Bancorp DE raised its position in Sprout Social by 2,392.6% in the fourth quarter. US Bancorp DE now owns 1,695 shares of the company's stock valued at $52,000 after purchasing an additional 1,627 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Sprout Social during the first quarter worth about $47,000. Finally, KBC Group NV boosted its position in shares of Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after buying an additional 1,099 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.