Sprout Social (NASDAQ:SPT) Shares Down 5.9% - What's Next?

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) was down 5.9% on Wednesday . The stock traded as low as $21.21 and last traded at $21.14. Approximately 408,494 shares changed hands during trading, a decline of 34% from the average daily volume of 622,530 shares. The stock had previously closed at $22.46.

Analyst Ratings Changes

Several analysts have recently weighed in on SPT shares. Barclays dropped their price objective on shares of Sprout Social from $34.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Canaccord Genuity Group dropped their price objective on shares of Sprout Social from $40.00 to $35.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Oppenheimer dropped their price objective on shares of Sprout Social from $38.00 to $32.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Piper Sandler decreased their price target on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus decreased their price target on shares of Sprout Social from $45.00 to $34.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $30.00.

Sprout Social Trading Down 2.4%

The stock has a market capitalization of $1.18 billion, a P/E ratio of -16.92 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.96 and a quick ratio of 0.96. The business's 50 day simple moving average is $21.35 and its 200-day simple moving average is $26.74.

Sprout Social (NASDAQ:SPT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.22 earnings per share (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 firm 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 earnings per share. The business's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts forecast that Sprout Social, Inc. will post -0.99 EPS for the current year.

Insider Buying and Selling at Sprout Social

In other news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $21.65, for a total transaction of $866,000.00. Following the transaction, the insider now directly owns 7,417 shares of the company's stock, valued at $160,578.05. This trade represents a 84.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Paul Barretto sold 16,800 shares of Sprout Social stock in a transaction on Friday, April 4th. The stock was sold at an average price of $19.90, for a total transaction of $334,320.00. Following the transaction, the chief executive officer now directly owns 136,575 shares in the company, valued at approximately $2,717,842.50. This represents a 10.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 176,021 shares of company stock valued at $3,738,636. 10.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprout Social

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of 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 in the last quarter. Quarry LP lifted its position 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 acquiring an additional 673 shares in the last quarter. US Bancorp DE lifted its position 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Sprout Social in the 1st quarter valued at $47,000. Finally, AlphaQuest LLC lifted its position in Sprout Social by 205.1% in the 1st quarter. AlphaQuest LLC now owns 4,479 shares of the company's stock valued at $98,000 after acquiring an additional 3,011 shares in the last quarter.

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.