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 stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $40.14, for a total value of $802,800.00. Following the transaction, the chief executive officer now directly owns 335,221 shares in the company, valued at approximately $13,455,770.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, April 10th, Justyn Russell Howard sold 20,000 shares of Sprout Social stock. The stock was sold at an average price of $51.07, for a total value of $1,021,400.00.
• On Wednesday, March 8th, Justyn Russell Howard sold 20,000 shares of Sprout Social stock. The stock was sold at an average price of $64.05, for a total value of $1,281,000.00.

Sprout Social Price Performance

Shares of SPT opened at $42.02 on Friday. The company has a market capitalization of $2.31 billion, a P/E ratio of -45.18 and a beta of 0.89. Sprout Social, Inc. has a one year low of $37.00 and a one year high of $74.07. The business’s 50 day simple moving average is $54.52 and its 200-day simple moving average is $57.81.

Sprout Social (NASDAQ:SPT – Get Rating) last announced its earnings results on Tuesday, February 21st. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.01. The business had revenue of $69.66 million for the quarter, compared to the consensus estimate of $69.83 million. Sprout Social had a negative return on equity of 35.74% and a negative net margin of 18.68%. On average, sell-side analysts anticipate that Sprout Social, Inc. will post -0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler lowered their target price on Sprout Social from $78.00 to $56.00 in a research report on Wednesday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 target price on shares of Sprout Social in a research report on Wednesday, February 22nd. Barclays decreased their target price on Sprout Social from $72.00 to $62.00 in a research report on Wednesday, May 3rd. KeyCorp increased their price objective on Sprout Social from $60.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Finally, BTIG Research cut their target price on Sprout Social from $100.00 to $76.00 in a report on Wednesday, May 3rd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.36.

Institutional Trading of Sprout Social

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Sprout Social by 101.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 441,692 shares of the company’s stock valued at $24,938,000 after buying an additional 222,928 shares during the period. Putnam Investments LLC boosted its stake in Sprout Social by 282.5% in the 3rd quarter. Putnam Investments LLC now owns 130,938 shares of the company’s stock worth $7,945,000 after purchasing an additional 96,707 shares during the period. MML Investors Services LLC boosted its stake in Sprout Social by 1.5% in the 3rd quarter. MML Investors Services LLC now owns 10,735 shares of the company’s stock worth $651,000 after purchasing an additional 162 shares during the period. American Trust boosted its stake in Sprout Social by 8.4% in the 3rd quarter. American Trust now owns 14,200 shares of the company’s stock worth $862,000 after purchasing an additional 1,105 shares during the period. Finally, Wipfli Financial Advisors LLC acquired a new position in Sprout Social in the 3rd quarter worth $28,000. Institutional investors own 86.34% of the company’s stock.

About Sprout Social

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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.