Sprout Social, Inc. (NASDAQ:SPT) CEO Justyn Russell Howard Sells 20,000 Shares

Sprout Social, Inc. (NASDAQ:SPT) CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $28.50, for a total value of $570,000.00. Following the sale, the chief executive officer now owns 406,636 shares in the company, valued at approximately $11,589,126. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, April 8th, Justyn Russell Howard sold 20,000 shares of Sprout Social stock. The shares were sold at an average price of $56.52, for a total transaction of $1,130,400.00.
• On Thursday, March 7th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00.

Sprout Social Stock Down 0.7 %

Shares of NASDAQ:SPT traded down $0.19 during trading on Wednesday, hitting $26.90. 3,062,395 shares of the company’s stock traded hands, compared to its average volume of 828,972. The company has a 50-day moving average price of $54.63 and a 200-day moving average price of $56.54. Sprout Social, Inc. has a 52 week low of $25.68 and a 52 week high of $68.41. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -21.52 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. The firm had revenue of $93.58 million for the quarter, compared to analyst estimates of $90.76 million. As a group, research analysts forecast that Sprout Social, Inc. will post -1.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Sprout Social by 3.9% during the third quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after acquiring an additional 191,471 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Sprout Social by 244.1% during the 3rd quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock worth $219,692,000 after buying an additional 3,124,376 shares during the period. Wellington Management Group LLP grew its stake in Sprout Social by 27.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,953,155 shares of the company’s stock valued at $197,183,000 after buying an additional 853,127 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Sprout Social by 6.5% during the 4th quarter. Clearbridge Investments LLC now owns 2,532,339 shares of the company’s stock worth $155,587,000 after purchasing an additional 153,642 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Sprout Social by 17.0% in the 1st quarter. Jennison Associates LLC now owns 2,137,422 shares of the company’s stock valued at $127,625,000 after purchasing an additional 311,146 shares during the period.

Wall Street Analysts Forecast Growth

SPT has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price objective on Sprout Social from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Barclays decreased their price target on shares of Sprout Social from $72.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Needham & Company LLC dropped their price objective on Sprout Social from $75.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. William Blair restated a “market perform” rating on shares of Sprout Social in a report on Friday, May 3rd. Finally, Morgan Stanley reduced their target price on shares of Sprout Social from $65.00 to $49.00 and set an “equal weight” rating for the company in a research note on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.07.

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.