Sprout Social, Inc. (NASDAQ:SPT) Insider Justyn Russell Howard Sells 40,000 Shares

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) insider Justyn Russell Howard sold 40,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $21.12, for a total value of $844,800.00. Following the sale, the insider directly owned 7,417 shares of the company's stock, valued at $156,647.04. The trade was a 84.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Justyn Russell Howard also recently made the following trade(s):

• On Tuesday, June 3rd, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The stock was sold at an average price of $21.65, for a total transaction of $866,000.00.
• On Tuesday, June 3rd, Justyn Russell Howard sold 10,575 shares of Sprout Social stock. The stock was sold at an average price of $21.56, for a total transaction of $227,997.00.
• On Tuesday, May 6th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The stock was sold at an average price of $20.81, for a total value of $832,400.00.

Sprout Social Price Performance

Sprout Social stock traded down $0.81 during midday trading on Thursday, reaching $19.75. The company's stock had a trading volume of 372,430 shares, compared to its average volume of 613,168. The firm has a market capitalization of $1.15 billion, a PE ratio of -18.99 and a beta of 1.01. Sprout Social, Inc. has a fifty-two week low of $18.52 and a fifty-two week high of $39.75. The stock's 50 day simple moving average is $21.52 and its 200 day simple moving average is $25.20. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. Sprout Social had a negative net margin of 14.25% and a negative return on equity of 31.03%. The firm had revenue of $109.29 million during the quarter, compared to analysts' expectations of $107.63 million. During the same quarter last year, the business earned $0.10 earnings per share. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 price objective on shares of Sprout Social in a research report on Wednesday, May 28th. Oppenheimer dropped their target price on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. The Goldman Sachs Group decreased their price target on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Morgan Stanley lowered their price target on Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Barclays reduced their price objective on Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Sprout Social currently has a consensus rating of "Hold" and a consensus target price of $30.00.

Institutional Investors Weigh In On Sprout Social

Several institutional investors have recently modified their holdings of SPT. Versant Capital Management Inc raised its holdings in Sprout Social by 1,319.4% during the first quarter. Versant Capital Management Inc now owns 1,462 shares of the company's stock worth $32,000 after purchasing an additional 1,359 shares during the last quarter. Quarry LP raised its stake in shares of Sprout Social by 85.2% during the 1st quarter. Quarry LP now owns 1,463 shares of the company's stock worth $32,000 after buying an additional 673 shares during the last quarter. US Bancorp DE grew its stake in Sprout Social by 2,392.6% in the 4th quarter. US Bancorp DE now owns 1,695 shares of the company's stock valued at $52,000 after acquiring an additional 1,627 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Sprout Social during the first quarter worth about $47,000. Finally, AlphaQuest LLC raised its position in shares of Sprout Social by 205.1% during the 1st quarter. AlphaQuest LLC now owns 4,479 shares of the company's stock worth $98,000 after purchasing an additional 3,011 shares during the last quarter.

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.

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