Sprout Social (NASDAQ:SPT) Insider Justyn Russell Howard Sells 40,000 Shares of Company Stock

Sprout Social, Inc. (NASDAQ:SPT) insider Justyn Howard sold 40,000 shares of Sprout Social stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $11.31, for a total transaction of $452,400.00. Following the transaction, the insider directly owned 7,417 shares of the company’s stock, valued at approximately $83,886.27. This trade represents a 84.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Justyn Russell Howard also recently made the following trade(s):

• On Friday, October 9th, Justyn Howard sold 40,000 shares of Sprout Social stock. The shares were sold at an average price of $11.02, for a total transaction of $440,800.00.
• On Wednesday, September 2nd, Justyn Howard sold 10,895 shares of Sprout Social stock. The shares were sold at an average price of $11.45, for a total transaction of $124,747.75.

Sprout Social Stock Performance

NASDAQ SPT opened at $11.53 on Friday. The firm has a 50-day moving average of $11.08 and a 200-day moving average of $8.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $698.60 million, a PE ratio of -25.62, a P/E/G ratio of 1.17 and a beta of 0.95. Sprout Social, Inc. has a 52-week low of $4.92 and a 52-week high of $13.35.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.16. The business had revenue of $125.15 million for the quarter, compared to analyst estimates of $123.83 million. Sprout Social had a negative net margin of 5.42% and a positive return on equity of 1.11%. On average, sell-side analysts anticipate that Sprout Social, Inc. will post 0.33 EPS for the current year.

Trending Headlines about Sprout Social

These are some of the SPT headlines that stood out recently:

• Positive Sentiment: Zacks Research upgraded Sprout Social from “hold” to “strong buy,” a potentially supportive change in analyst sentiment. Read the Zacks upgrade report
• Positive Sentiment: Sprout Social launched AI sentiment analysis in NewsWhip, adding an AI-focused feature to its offering that could enhance its product capabilities. Read about the NewsWhip launch
• Neutral Sentiment: A law firm is soliciting shareholders to discuss potential claims and their rights. The announcement is a solicitation; the item does not establish that misconduct occurred. Read the shareholder notice

Institutional Investors Weigh In On Sprout Social

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royce & Associates LP acquired a new stake in Sprout Social during the third quarter worth approximately $129,000. Russell Investments Group Ltd. increased its stake in Sprout Social by 57.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 47,432 shares of the company’s stock worth $463,000 after acquiring an additional 17,355 shares during the period. Parallel Advisors LLC raised its holdings in Sprout Social by 341.9% in the 3rd quarter. Parallel Advisors LLC now owns 4,406 shares of the company’s stock valued at $43,000 after acquiring an additional 3,409 shares in the last quarter. CenterBook Partners LP bought a new stake in shares of Sprout Social during the 3rd quarter valued at $207,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Sprout Social during the 3rd quarter worth $59,000.

Wall Street Analyst Weigh In

SPT has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $14.00 price target on shares of Sprout Social in a report on Wednesday, November 4th. Wall Street Zen raised Sprout Social from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Morgan Stanley upped their price objective on Sprout Social from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Zacks Research upgraded Sprout Social from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Canaccord Genuity Group lifted their target price on Sprout Social from $10.00 to $13.50 and gave the stock a “hold” rating in a report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Sprout Social has a consensus rating of “Hold” and a consensus target price of $12.17.

About Sprout Social

Sprout Social, Inc. provides cloud-based software that helps organizations manage their social media presence. Its platform supports activities such as publishing and scheduling content, engaging with audiences, monitoring social conversations, and analyzing social media performance. The company’s tools also include social listening, customer care, and employee advocacy capabilities. Sprout Social serves businesses and agencies across a range of industries, helping teams coordinate social media work and gather insights from interactions across social networks.