Sprout Social (NASDAQ:SPT) Reaches New 12-Month Low on Insider Selling

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report)'s stock price reached a new 52-week low on Wednesday after an insider sold shares in the company. The stock 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 stock in a transaction on Monday, July 14th. The shares were sold at an average price of $19.05, for a total value of $95,250.00. Following the completion of the sale, the director owned 28,963 shares in the company, valued at $551,745.15. This trade represents a 14.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Paul Barretto sold 16,800 shares of the 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 transaction, the chief executive officer directly owned 119,775 shares in the company, valued at $2,534,439. The trade was a 12.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, insider Justyn Russell Howard sold 40,000 shares of the 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 transaction, the insider directly owned 7,417 shares of the company's stock, valued at $156,647.04. This represents a 84.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analyst Weigh In

SPT has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $24.00 price target on shares of Sprout Social in a research report on Tuesday, June 3rd. Morgan Stanley lowered their price target 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. Oppenheimer lowered their price target 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. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 price target on shares of Sprout Social in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group lowered their price target on shares of Sprout Social from $29.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Sprout Social presently has a consensus rating of "Hold" and an average price target of $30.00.

Sprout Social Stock Up 1.7%

The stock's fifty day moving average is $21.32 and its two-hundred day moving average is $24.75. The company has a market capitalization of $1.10 billion, a PE ratio of -18.21 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 quarterly earnings results on Thursday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.07. The firm had revenue of $109.29 million for the quarter, compared to the consensus estimate of $107.63 million. Sprout Social had a negative net margin of 14.25% and a negative return on equity of 31.03%. The company's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new stake in shares of Sprout Social during the fourth quarter valued at approximately $338,000. Brighton Jones LLC raised its position in shares of Sprout Social by 391.7% during the fourth quarter. Brighton Jones LLC now owns 35,985 shares of the company's stock valued at $1,105,000 after buying an additional 28,667 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Sprout Social during the fourth quarter valued at approximately $1,184,000. Barclays PLC raised its position in shares of Sprout Social by 8.9% during the fourth quarter. Barclays PLC now owns 98,284 shares of the company's stock valued at $3,018,000 after buying an additional 8,050 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Sprout Social by 9.6% during the first quarter. Rhumbline Advisers now owns 76,976 shares of the company's stock valued at $1,693,000 after buying an additional 6,774 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.