Sprout Social, Inc. (NASDAQ:SPT) Director Sells $581,218.68 in Stock

Sprout Social, Inc. (NASDAQ:SPT) Director Aaron Edward Frederick Rankin sold 23,646 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $24.58, for a total transaction of $581,218.68. Following the transaction, the director now owns 42,122 shares of the company’s stock, valued at $1,035,358.76. This trade represents a 35.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Sprout Social Stock Performance

Sprout Social stock opened at $25.09 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.45 billion, a PE ratio of -20.91 and a beta of 1.11. The firm has a fifty day simple moving average of $29.62 and a two-hundred day simple moving average of $29.74. Sprout Social, Inc. has a twelve month low of $22.95 and a twelve month high of $62.34.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SPT. The Goldman Sachs Group reduced their price target on shares of Sprout Social from $34.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley cut their target price on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Needham & Company LLC cut their target price on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus cut their target price on shares of Sprout Social from $45.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group upped their target price on shares of Sprout Social from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. 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 stock. Based on data from MarketBeat.com, Sprout Social has an average rating of “Hold” and a consensus price target of $33.85.

Hedge Funds Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently modified their holdings of the company. Stifel Financial Corp raised its stake in shares of Sprout Social by 0.4% during the fourth quarter. Stifel Financial Corp now owns 83,141 shares of the company’s stock valued at $2,553,000 after acquiring an additional 351 shares during the last quarter. Invesco Ltd. raised its stake in shares of Sprout Social by 1.8% during the fourth quarter. Invesco Ltd. now owns 22,861 shares of the company’s stock valued at $702,000 after acquiring an additional 397 shares during the last quarter. Quarry LP raised its stake in shares of Sprout Social by 100.9% during the third quarter. Quarry LP now owns 1,573 shares of the company’s stock valued at $46,000 after acquiring an additional 790 shares during the last quarter. Assetmark Inc. raised its stake in shares of Sprout Social by 27.5% during the third quarter. Assetmark Inc. now owns 3,717 shares of the company’s stock valued at $108,000 after acquiring an additional 801 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Sprout Social by 5.4% during the third quarter. Franklin Resources Inc. now owns 20,256 shares of the company’s stock valued at $576,000 after acquiring an additional 1,034 shares during 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.