Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) Director Aaron Edward Frederick Rankin sold 23,646 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $24.58, for a total value of $581,218.68. Following the transaction, the director now directly owns 42,122 shares of the company's stock, valued at $1,035,358.76. The trade was a 35.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Sprout Social Stock Up 1.9 %
Shares of NASDAQ SPT opened at $24.97 on Wednesday. The business has a 50-day moving average price of $29.88 and a 200 day moving average price of $29.80. The stock has a market cap of $1.44 billion, a PE ratio of -20.81 and a beta of 1.11. 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 52-week low of $22.95 and a 52-week high of $62.34.
Sprout Social (NASDAQ:SPT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.35). The firm had revenue of $107.09 million during the quarter, compared to analyst estimates of $106.74 million. Sprout Social had a negative net margin of 17.24% and a negative return on equity of 40.94%. Equities research analysts forecast that Sprout Social, Inc. will post -0.99 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Assetmark Inc. grew its holdings in shares of Sprout Social by 27.5% during 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 last quarter. Quest Partners LLC grew its stake in shares of Sprout Social by 61,042.9% in the 3rd quarter. Quest Partners LLC now owns 47,080 shares of the company's stock valued at $1,369,000 after purchasing an additional 47,003 shares during the last quarter. Jennison Associates LLC increased its holdings 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 valued at $62,915,000 after purchasing an additional 21,186 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Sprout Social by 17.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 219,194 shares of the company's stock worth $6,372,000 after purchasing an additional 31,846 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Sprout Social during the third quarter worth $448,000.
Analyst Ratings Changes
A number of brokerages have recently commented on SPT. Barclays lowered their price objective on Sprout Social from $38.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Stifel Nicolaus lowered their price target on shares of Sprout Social from $45.00 to $34.00 and set a "buy" rating for the company in a 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 report on Wednesday, February 26th. Piper Sandler decreased their price objective on shares of Sprout Social from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Oppenheimer dropped 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Sprout Social has an average rating of "Hold" and an average price target of $33.85.
Read Our Latest Analysis on SPT
About Sprout Social
(
Get Free Report)
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.
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