Sprout Social, Inc. (NASDAQ:SPT) CEO Sells $570,000.00 in Stock

Sprout Social, Inc. (NASDAQ:SPT) CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $28.50, for a total transaction of $570,000.00. Following the completion of the transaction, the chief executive officer now owns 406,636 shares in the company, valued at approximately $11,589,126. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 stock was 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 transaction of $2,334,400.00.

Sprout Social Price Performance

SPT opened at $28.49 on Friday. The stock has a market capitalization of $1.60 billion, a P/E ratio of -22.79 and a beta of 1.09. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38. Sprout Social, Inc. has a 12-month low of $25.68 and a 12-month high of $68.41. The stock has a 50-day moving average price of $53.95 and a 200-day moving average price of $56.33.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results 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 business had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Equities analysts predict that Sprout Social, Inc. will post -1.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Jefferies Financial Group began coverage on Sprout Social in a research report on Wednesday, February 7th. They set a “buy” rating and a $76.00 target price on the stock. Cantor Fitzgerald cut their price objective on shares of Sprout Social from $74.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Robert W. Baird lowered Sprout Social from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $72.00 to $45.00 in a research report on Friday, May 3rd. Canaccord Genuity Group reduced their price objective on Sprout Social from $70.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group cut Sprout Social from a “buy” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $44.00 in a report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.07.

Institutional Investors Weigh In On Sprout Social

A number of large investors have recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new stake in shares of Sprout Social during the first quarter worth about $27,000. RiverPark Advisors LLC bought a new position in Sprout Social during the 3rd quarter valued at approximately $37,000. Guinness Atkinson Asset Management Inc purchased a new stake in Sprout Social in the 3rd quarter worth approximately $40,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Sprout Social in the 3rd quarter worth approximately $47,000. Finally, Arcadia Investment Management Corp MI increased its stake in shares of Sprout Social by 36.7% during the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after buying an additional 281 shares during the period.

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.