Aaron Edward Frederick Rankin Sells 23,646 Shares of Sprout Social, Inc. (NASDAQ:SPT) Stock

Sprout Social, Inc. (NASDAQ:SPT) Director Aaron Edward Frederick Rankin sold 23,646 shares of Sprout Social stock in a transaction that occurred 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 sale, the director now owns 42,122 shares in the company, valued at approximately $1,035,358.76. The trade was a 35.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Sprout Social Trading Up 1.9 %

NASDAQ SPT traded up $0.46 on Tuesday, hitting $24.97. 445,283 shares of the stock were exchanged, compared to its average volume of 706,770. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average price of $30.01 and a two-hundred day moving average price of $29.84. The firm has a market capitalization of $1.44 billion, a P/E ratio of -20.81 and a beta of 1.11. Sprout Social, Inc. has a 52-week low of $22.95 and a 52-week high of $62.34.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.35). The firm had revenue of $107.09 million for the quarter, compared to analysts’ expectations 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 forecast that Sprout Social, Inc. will post -0.99 EPS for the current fiscal year.

Institutional Trading of Sprout Social

Large investors have recently made changes to their positions in the stock. Quarry LP boosted 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 purchasing an additional 790 shares during the period. US Bancorp DE lifted its stake in 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 acquiring an additional 1,627 shares during the period. KBC Group NV lifted its stake in 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 acquiring an additional 1,099 shares during the period. Assetmark Inc. lifted its stake in 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 acquiring an additional 801 shares during the period. Finally, Yarbrough Capital LLC purchased a new stake in Sprout Social in the fourth quarter worth about $206,000.

Analyst Upgrades and Downgrades

SPT has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Sprout Social from $34.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC reduced their price objective on shares of Sprout Social from $55.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Barclays reduced their price target on shares of Sprout Social from $38.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler reduced their price target on shares of Sprout Social from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Finally, Morgan Stanley reduced their price target on shares of Sprout Social from $37.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. One equities research 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 currently has a consensus rating of “Hold” and a consensus target price of $33.85.

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.