Ryan Paul Barretto Sells 16,800 Shares of Sprout Social, Inc. (NASDAQ:SPT) Stock

Sprout Social, Inc. (NASDAQ:SPT) CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $19.90, for a total value of $334,320.00. Following the completion of the sale, the chief executive officer now directly owns 136,575 shares of the company’s stock, valued at approximately $2,717,842.50. This represents a 10.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Sprout Social Price Performance

SPT opened at $19.20 on Wednesday. The stock’s 50-day moving average price is $26.76 and its 200 day moving average price is $29.19. Sprout Social, Inc. has a 12-month low of $18.72 and a 12-month high of $59.04. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -16.00 and a beta of 1.11. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.35). The business had revenue of $107.09 million for the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. As a group, sell-side analysts expect that Sprout Social, Inc. will post -0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on SPT shares. Stifel Nicolaus dropped their target price on Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Canaccord Genuity Group cut their price objective on shares of Sprout Social from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Barclays reduced their target price on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley dropped their price target on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler decreased their price objective on Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.85.

Hedge Funds Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPT. JPMorgan Chase & Co. boosted its stake in shares of Sprout Social by 324.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 402,947 shares of the company’s stock valued at $11,714,000 after buying an additional 307,906 shares during the period. M&T Bank Corp purchased a new position in Sprout Social in the third quarter worth approximately $1,074,000. Zacks Investment Management acquired a new position in Sprout Social during the 3rd quarter worth approximately $2,120,000. Geode Capital Management LLC grew its holdings in Sprout Social by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,175,538 shares of the company’s stock worth $34,179,000 after acquiring an additional 22,320 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Sprout Social by 339.5% in the 3rd quarter. Barclays PLC now owns 90,234 shares of the company’s stock valued at $2,623,000 after purchasing an additional 69,704 shares in the last quarter.

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.