Insider Selling: Sprout Social, Inc. (NASDAQ:SPT) Insider Sells 40,000 Shares of Stock

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $21.12, for a total transaction of $844,800.00. Following the sale, the insider owned 7,417 shares in the company, valued at approximately $156,647.04. The trade was a 84.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were 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 shares were 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 shares were sold at an average price of $20.81, for a total transaction of $832,400.00.

Sprout Social Stock Performance

Sprout Social stock traded down $0.90 during trading on Friday, reaching $18.85. The company had a trading volume of 413,345 shares, compared to its average volume of 608,257. Sprout Social, Inc. has a 52 week low of $18.52 and a 52 week high of $39.75. The firm's 50-day simple moving average is $21.44 and its 200 day simple moving average is $24.97. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -18.13 and a beta of 1.01. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.

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

Institutional Investors Weigh In On Sprout Social

A number of institutional investors have recently bought and sold shares of the business. Stifel Financial Corp increased its stake in Sprout Social by 0.4% in the 4th quarter. Stifel Financial Corp now owns 83,141 shares of the company's stock worth $2,553,000 after buying an additional 351 shares in the last quarter. Invesco Ltd. increased its stake in Sprout Social by 1.8% in the 4th quarter. Invesco Ltd. now owns 22,861 shares of the company's stock worth $702,000 after buying an additional 397 shares in the last quarter. Quarry LP increased its stake in Sprout Social by 85.2% in the 1st quarter. Quarry LP now owns 1,463 shares of the company's stock worth $32,000 after buying an additional 673 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Sprout Social by 8.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,367 shares of the company's stock worth $206,000 after buying an additional 747 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Sprout Social by 3.0% in the 4th quarter. Sei Investments Co. now owns 35,893 shares of the company's stock worth $1,102,000 after buying an additional 1,038 shares in the last quarter.

Analysts Set New Price Targets

SPT has been the topic of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of Sprout Social from $30.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group lowered their price target on Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Cantor Fitzgerald reissued a "neutral" rating and set a $24.00 price target on shares of Sprout Social in a report on Tuesday, June 3rd. Needham & Company LLC reissued a "buy" rating and set a $32.00 price target on shares of Sprout Social in a report on Wednesday, May 28th. Finally, Oppenheimer lowered their price target on Sprout Social from $38.00 to $32.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $30.00.

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.