Friday after an insider sold shares in the company. The stock had previously closed at $53.38, but opened at $48.37. Sprout Social shares last traded at $46.98, with a volume of 267,517 shares. Specifically, CEO Justyn Russell Howard sold 20,000 shares of the company’s 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 sale, 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 filing with the SEC, which is available at the SEC website. In other news, CFO Preto Joseph Del sold 492 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $53.66, for a total value of $26,400.72. Following the transaction, the chief financial officer now owns 139,385 shares of the company’s stock, valued at approximately $7,479,399.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $40.14, for a total value of $802,800.00. Following the completion of the transaction, the chief executive officer now directly owns 335,221 shares in the company, valued at approximately $13,455,770.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,964 shares of company stock worth $3,095,020. Company insiders own 11.93% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on SPT shares. Piper Sandler dropped their price target on Sprout Social from $78.00 to $56.00 in a research note on Wednesday, May 3rd. The Goldman Sachs Group started coverage on Sprout Social in a research note on Thursday, July 6th. They issued a “buy” rating and a $61.00 price target on the stock. BTIG Research dropped their price target on Sprout Social from $100.00 to $76.00 in a research note on Wednesday, May 3rd. KeyCorp lifted their price target on Sprout Social from $58.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Cantor Fitzgerald dropped their price target on Sprout Social from $46.00 to $44.00 in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Sprout Social presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.09.
Sprout Social Stock Down 12.3 %
The business has a fifty day moving average of $49.56 and a 200 day moving average of $53.94. The firm has a market cap of $2.59 billion, a P/E ratio of -51.67 and a beta of 0.91.
Sprout Social (NASDAQ:SPT – Get Free Report) last released its quarterly earnings results on Tuesday, May 2nd. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.05. Sprout Social had a negative net margin of 18.68% and a negative return on equity of 35.74%. The company had revenue of $75.21 million during the quarter, compared to the consensus estimate of $75.01 million. Research analysts expect that Sprout Social, Inc. will post -0.96 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Sprout Social by 99,513.6% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 14,578,454 shares of the company’s stock worth $672,941,000 after purchasing an additional 14,563,819 shares during the last quarter. BlackRock Inc. boosted its position in Sprout Social by 1.7% during the first quarter. BlackRock Inc. now owns 3,958,956 shares of the company’s stock valued at $241,021,000 after acquiring an additional 67,321 shares during the last quarter. Vanguard Group Inc. boosted its position in Sprout Social by 0.9% during the third quarter. Vanguard Group Inc. now owns 3,957,201 shares of the company’s stock valued at $240,124,000 after acquiring an additional 33,580 shares during the last quarter. Macquarie Group Ltd. boosted its position in Sprout Social by 15.0% during the second quarter. Macquarie Group Ltd. now owns 2,779,197 shares of the company’s stock valued at $161,388,000 after acquiring an additional 363,381 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in Sprout Social by 23.1% during the first quarter. Clearbridge Investments LLC now owns 1,857,965 shares of the company’s stock valued at $113,113,000 after acquiring an additional 348,637 shares during the last quarter. 91.07% of the stock is currently owned by institutional investors and hedge funds.
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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.