Insider Selling: Sprout Social, Inc. (NASDAQ:SPT) Director Sells 5,000 Shares of Stock

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.24, for a total transaction of $171,200.00. Following the sale, the director now owns 35,665 shares of the company's stock, valued at approximately $1,221,169.60. This trade represents a 12.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sprout Social Stock Up 6.8 %

Shares of SPT traded up $2.31 during mid-day trading on Monday, reaching $36.24. The company's stock had a trading volume of 582,490 shares, compared to its average volume of 729,309. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -30.20 and a beta of 1.03. The business has a fifty day moving average of $29.81 and a 200 day moving average of $31.62. 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 1 year low of $25.05 and a 1 year high of $68.41.

Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.06). The company had revenue of $102.64 million for the quarter, compared to analyst estimates of $102.04 million. Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. As a group, analysts forecast that Sprout Social, Inc. will post -0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. KeyCorp lowered Sprout Social from a "sector weight" rating to an "underweight" rating and set a $28.00 target price on the stock. in a research report on Thursday, August 22nd. Oppenheimer reduced their target price on shares of Sprout Social from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, December 3rd. Barclays dropped their target price on Sprout Social from $48.00 to $38.00 and set an "overweight" rating on the stock in a research report on Friday, October 11th. Piper Sandler decreased their target price on Sprout Social from $40.00 to $29.00 and set a "neutral" rating for the company in a research report on Monday, November 11th. Finally, Scotiabank started coverage on Sprout Social in a research report on Monday, November 18th. They set a "sector perform" rating and a $28.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.46.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SPT. Wellington Management Group LLP grew its stake in Sprout Social by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,762,443 shares of the company's stock valued at $109,374,000 after buying an additional 519,406 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Sprout Social by 3.9% in the second quarter. Clearbridge Investments LLC now owns 2,694,797 shares of the company's stock valued at $96,150,000 after purchasing an additional 100,890 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Sprout Social by 1.0% in the third quarter. Jennison Associates LLC now owns 2,164,256 shares of the company's stock worth $62,915,000 after purchasing an additional 21,186 shares during the period. Dorsey Asset Management LLC bought a new position in shares of Sprout Social in the second quarter worth about $61,583,000. Finally, State Street Corp boosted its stake in Sprout Social by 0.5% during the 3rd quarter. State Street Corp now owns 1,227,099 shares of the company's stock valued at $35,672,000 after purchasing an additional 5,557 shares during the period.

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.