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

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $19.99, for a total value of $799,600.00. Following the completion of the sale, the insider now owns 7,417 shares of the company’s stock, valued at $148,265.83. This trade represents a 84.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, February 6th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The stock was sold at an average price of $32.59, for a total value of $1,303,600.00.
• On Wednesday, January 15th, Justyn Russell Howard sold 40,000 shares of Sprout Social stock. The stock was sold at an average price of $31.67, for a total value of $1,266,800.00.

Sprout Social Stock Performance

Shares of SPT stock opened at $19.20 on Wednesday. The firm has a 50 day moving average of $26.76 and a two-hundred day moving average of $29.19. The stock has a market capitalization of $1.11 billion, a PE ratio of -16.00 and a beta of 1.11. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. Sprout Social, Inc. has a 52 week low of $18.72 and a 52 week high of $59.04.

Sprout Social (NASDAQ:SPT) last released its earnings results on Tuesday, February 25th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. The company had revenue of $107.09 million during the quarter, compared to analysts’ expectations of $106.74 million. On average, research analysts predict that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Analyst Ratings Changes

SPT has been the subject of several recent analyst reports. 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. Jefferies Financial Group lifted their price target on shares of Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Piper Sandler lowered their price objective on Sprout Social from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Barclays cut their target price on Sprout Social from $38.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Scotiabank lowered their price target on Sprout Social from $28.00 to $25.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Sprout Social has a consensus rating of “Hold” and a consensus target price of $33.85.

Institutional Trading of Sprout Social

Large investors have recently made changes to their positions in the company. Rhumbline Advisers grew its holdings in Sprout Social by 9.6% during the 1st quarter. Rhumbline Advisers now owns 76,976 shares of the company’s stock worth $1,693,000 after acquiring an additional 6,774 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Sprout Social by 19,500.0% during the 1st quarter. GAMMA Investing LLC now owns 9,016 shares of the company’s stock worth $198,000 after purchasing an additional 8,970 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Sprout Social by 1,319.4% during the first quarter. Versant Capital Management Inc now owns 1,462 shares of the company’s stock worth $32,000 after purchasing an additional 1,359 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Sprout Social in the fourth quarter valued at $4,296,000. Finally, Woodline Partners LP acquired a new stake in Sprout Social in the fourth quarter valued at $233,000.

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.