Sprout Social (NASDAQ:SPT) Insider Justyn Russell Howard Sells 40,000 Shares of Stock

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Howard sold 40,000 shares of the stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $11.31, for a total value of $452,400.00. Following the completion of the transaction, the insider owned 7,417 shares in the company, valued at approximately $83,886.27. The trade was a 84.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, October 9th, Justyn Howard sold 40,000 shares of Sprout Social stock. The stock was sold at an average price of $11.02, for a total value of $440,800.00.
• On Wednesday, September 2nd, Justyn Howard sold 10,895 shares of Sprout Social stock. The shares were sold at an average price of $11.45, for a total value of $124,747.75.

Sprout Social Stock Up 1.1%

Sprout Social stock traded up $0.12 during mid-day trading on Thursday, hitting $11.53. The company had a trading volume of 648,883 shares, compared to its average volume of 1,371,896. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.16. Sprout Social, Inc. has a 1 year low of $4.92 and a 1 year high of $13.35. The business has a fifty day moving average of $11.08 and a 200 day moving average of $8.32. The stock has a market cap of $698.63 million, a price-to-earnings ratio of -25.62, a PEG ratio of 1.15 and a beta of 0.95.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.16. Sprout Social had a negative net margin of 5.42% and a positive return on equity of 1.11%. The business had revenue of $125.15 million during the quarter, compared to the consensus estimate of $123.83 million. On average, sell-side analysts expect that Sprout Social, Inc. will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sprout Social

A number of institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its position in Sprout Social by 33.8% in the 3rd quarter. Signaturefd LLC now owns 3,510 shares of the company’s stock valued at $34,000 after purchasing an additional 886 shares during the last quarter. Essential Partners LLC grew its position in Sprout Social by 724.9% during the 1st quarter. Essential Partners LLC now owns 6,550 shares of the company’s stock worth $37,000 after purchasing an additional 5,756 shares during the last quarter. Parallel Advisors LLC grew its position in Sprout Social by 341.9% during the 3rd quarter. Parallel Advisors LLC now owns 4,406 shares of the company’s stock worth $43,000 after purchasing an additional 3,409 shares during the last quarter. GAMMA Investing LLC increased its stake in Sprout Social by 115.8% in the second quarter. GAMMA Investing LLC now owns 6,368 shares of the company’s stock valued at $48,000 after purchasing an additional 3,417 shares during the period. Finally, Commonwealth Financial Services LLC acquired a new position in Sprout Social in the first quarter valued at $58,000.

Wall Street Analysts Forecast Growth

SPT has been the subject of a number of research reports. Zacks Research raised shares of Sprout Social from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Wall Street Zen upgraded Sprout Social from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. KeyCorp lifted their target price on Sprout Social from $7.00 to $10.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 4th. Cantor Fitzgerald boosted their target price on Sprout Social from $8.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, November 4th. Finally, Canaccord Genuity Group upped their target price on Sprout Social from $10.00 to $13.50 and gave the company a “hold” rating in a research report on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Sprout Social currently has an average rating of “Hold” and a consensus target price of $12.17.

Sprout Social Company Profile

Sprout Social, Inc. provides cloud-based software that helps organizations manage their social media presence. Its platform supports activities such as publishing and scheduling content, engaging with audiences, monitoring social conversations, and analyzing social media performance. The company’s tools also include social listening, customer care, and employee advocacy capabilities. Sprout Social serves businesses and agencies across a range of industries, helping teams coordinate social media work and gather insights from interactions across social networks.