Sprout Social (NASDAQ:SPT) Hits New 1-Year Low Following Insider Selling

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) reached a new 52-week low on Wednesday after an insider sold shares in the company. The company traded as low as $18.52 and last traded at $18.74, with a volume of 22487 shares trading hands. The stock had previously closed at $18.58.

Specifically, Director Karen Walker sold 5,000 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $19.05, for a total transaction of $95,250.00. Following the transaction, the director directly owned 28,963 shares of the company's stock, valued at approximately $551,745.15. This trade represents a 14.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $21.16, for a total transaction of $355,488.00. Following the completion of the sale, the chief executive officer directly owned 119,775 shares in the company, valued at approximately $2,534,439. The trade was a 12.30% decrease in their position. The disclosure for this sale can be found here. In other news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $21.12, for a total value of $844,800.00. Following the sale, the insider 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 Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of research firms recently commented on SPT. Morgan Stanley decreased 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 report on Wednesday, April 16th. Oppenheimer dropped their price target on Sprout Social from $38.00 to $32.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Barclays dropped their price target on Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Needham & Company LLC restated a "buy" rating and issued a $32.00 price target on shares of Sprout Social in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group reduced their price target on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.00.

Sprout Social Stock Up 0.1%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The firm's 50 day simple moving average is $21.17 and its 200-day simple moving average is $24.59.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.22 earnings per share 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 business had revenue of $109.29 million during the quarter, compared to the consensus estimate of $107.63 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The business's quarterly revenue was up 12.9% compared to the same quarter last year. On average, research analysts predict that Sprout Social, Inc. will post -0.99 earnings per share for the current fiscal year.

Institutional Trading of Sprout Social

A number of institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc increased its holdings 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 worth $32,000 after acquiring an additional 1,359 shares during the period. Quarry LP increased its stake in Sprout Social by 85.2% during the 1st quarter. Quarry LP now owns 1,463 shares of the company's stock valued at $32,000 after buying an additional 673 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Sprout Social during the 1st quarter valued at about $47,000. AlphaQuest LLC increased its stake in Sprout Social by 205.1% during the 1st quarter. AlphaQuest LLC now owns 4,479 shares of the company's stock valued at $98,000 after buying an additional 3,011 shares during the period. Finally, GAMMA Investing LLC increased its stake in Sprout Social by 19,500.0% during the 1st quarter. GAMMA Investing LLC now owns 9,016 shares of the company's stock valued at $198,000 after buying an additional 8,970 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.