Sprout Social (NASDAQ:SPT) Stock Price Down 7.4% - Should You Sell?

Sprout Social, Inc. (NASDAQ:SPT - Get Free Report)'s stock price dropped 7.4% during trading on Thursday . The company traded as low as $31.47 and last traded at $31.02. Approximately 449,372 shares traded hands during trading, a decline of 18% from the average daily volume of 547,159 shares. The stock had previously closed at $33.50.

Wall Street Analysts Forecast Growth

SPT has been the topic of a number of research analyst reports. Oppenheimer reduced their target price on Sprout Social from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $55.00 target price on shares of Sprout Social in a report on Wednesday, January 15th. Morgan Stanley increased their target price on Sprout Social from $36.00 to $37.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Scotiabank assumed 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. Finally, Piper Sandler dropped their price target on Sprout Social from $40.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $39.58.

Sprout Social Trading Down 1.4 %

The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -25.81 and a beta of 1.06. The firm has a 50-day moving average of $32.52 and a 200 day moving average of $30.66.

Insider Activity at Sprout Social

In other news, insider Justyn Russell Howard sold 40,000 shares of Sprout Social stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $32.59, for a total transaction of $1,303,600.00. Following the transaction, the insider now directly owns 7,417 shares in the company, valued at approximately $241,720.03. This trade represents a 84.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Walker sold 5,000 shares of Sprout Social stock in a transaction on Monday, January 13th. The shares were sold at an average price of $30.26, for a total value of $151,300.00. Following the transaction, the director now owns 30,665 shares in the company, valued at approximately $927,922.90. This trade represents a 14.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 120,265 shares of company stock worth $3,837,006 in the last three months. 10.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sprout Social

Large investors have recently modified their holdings of the stock. Quarry LP boosted its stake in shares of Sprout Social by 100.9% during the 3rd quarter. Quarry LP now owns 1,573 shares of the company's stock worth $46,000 after acquiring an additional 790 shares in the last quarter. US Bancorp DE boosted its position in shares of Sprout Social by 2,392.6% in the fourth quarter. US Bancorp DE now owns 1,695 shares of the company's stock worth $52,000 after buying an additional 1,627 shares during the period. KBC Group NV boosted its position in shares of Sprout Social by 77.1% in the fourth quarter. KBC Group NV now owns 2,525 shares of the company's stock worth $78,000 after buying an additional 1,099 shares during the period. Assetmark Inc. boosted its position in shares of Sprout Social by 27.5% in the third quarter. Assetmark Inc. now owns 3,717 shares of the company's stock worth $108,000 after buying an additional 801 shares during the period. Finally, Yarbrough Capital LLC acquired a new stake in shares of Sprout Social in the fourth quarter worth $206,000.

Sprout Social Company Profile

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.