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

Sprout Social, Inc. (NASDAQ:SPT – Get Rating) CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $64.05, for a total transaction of $1,281,000.00. Following the transaction, the chief executive officer now directly owns 221,455 shares in the company, valued at approximately $14,184,192.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, February 8th, Justyn Russell Howard sold 20,000 shares of Sprout Social stock. The shares were sold at an average price of $62.61, for a total transaction of $1,252,200.00.

Sprout Social Trading Down 5.2 %

NASDAQ SPT opened at $57.03 on Friday. The company has a market cap of $3.14 billion, a PE ratio of -61.99 and a beta of 0.91. Sprout Social, Inc. has a 12 month low of $38.39 and a 12 month high of $85.99. The stock has a 50 day moving average of $61.23 and a 200-day moving average of $60.09.

Institutional Investors Weigh In On Sprout Social

Hedge funds have recently added to or reduced their stakes in the business. Putnam Investments LLC increased its position in Sprout Social by 282.5% during the 3rd quarter. Putnam Investments LLC now owns 130,938 shares of the company’s stock worth $7,945,000 after buying an additional 96,707 shares during the period. MML Investors Services LLC increased its position in Sprout Social by 1.5% during the 3rd quarter. MML Investors Services LLC now owns 10,735 shares of the company’s stock worth $651,000 after buying an additional 162 shares during the period. FMR LLC increased its position in Sprout Social by 40.0% during the 2nd quarter. FMR LLC now owns 1,229,102 shares of the company’s stock worth $71,374,000 after buying an additional 351,372 shares during the period. Wipfli Financial Advisors LLC bought a new position in shares of Sprout Social in the third quarter worth $28,000. Finally, Macquarie Group Ltd. increased its position in shares of Sprout Social by 6.5% in the third quarter. Macquarie Group Ltd. now owns 2,960,497 shares of the company’s stock worth $179,693,000 after purchasing an additional 181,300 shares during the period. Institutional investors and hedge funds own 86.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SPT shares. KeyCorp boosted their price target on shares of Sprout Social from $60.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. Robert W. Baird upped their target price on shares of Sprout Social from $64.00 to $76.00 and gave the company an “outperform” rating in a research report on Thursday, November 17th. Barclays upped their target price on shares of Sprout Social from $63.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, February 22nd. Needham & Company LLC restated a “buy” rating and set a $75.00 target price on shares of Sprout Social in a research report on Wednesday, February 22nd. Finally, Cantor Fitzgerald downgraded shares of Sprout Social from an “overweight” rating to a “neutral” rating and cut their target price for the company from $62.00 to $53.00 in a research report on Monday, February 13th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.67.

Sprout Social Company Profile

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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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.