Key Points
- Sprout Social insider Justyn Howard sold 40,000 shares for $452,400 at an average price of $11.31 under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by 84.36%, to 7,417 shares.
- The company beat quarterly earnings and revenue expectations, reporting EPS of $0.45 versus a $0.29 consensus and revenue of $125.15 million versus $123.83 million expected.
- Analyst opinion is mixed: Sprout Social has a consensus “Hold” rating and a $12.17 average price target, while recent targets range from $10 to $14.
Sprout Social, Inc. (NASDAQ:SPT - Get Free Report) insider Justyn Howard sold 40,000 shares of the business's stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $11.31, for a total transaction of $452,400.00. Following the completion of the transaction, the insider owned 7,417 shares of the company's stock, valued at $83,886.27. The trade was a 84.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 stock was 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 stock was sold at an average price of $11.45, for a total transaction of $124,747.75.
Sprout Social Stock Performance
Shares of NASDAQ:SPT opened at $11.53 on Friday. The company's 50 day simple moving average is $11.08 and its 200 day simple moving average is $8.33. The stock has a market capitalization of $698.60 million, a price-to-earnings ratio of -25.62, a price-to-earnings-growth ratio of 1.17 and a beta of 0.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.91 and a quick ratio of 0.91. Sprout Social, Inc. has a 1 year low of $4.92 and a 1 year high of $13.35.
Sprout Social (NASDAQ:SPT - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.16. The firm had revenue of $125.15 million during the quarter, compared to analysts' expectations of $123.83 million. Sprout Social had a positive return on equity of 1.11% and a negative net margin of 5.42%. As a group, research analysts predict that Sprout Social, Inc. will post 0.33 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Sprout Social in a research note on Wednesday, November 4th. KeyCorp boosted their target price on Sprout Social from $7.00 to $10.00 and gave the stock an "underweight" rating in a research note on Wednesday, November 4th. Stifel Nicolaus boosted their target price on Sprout Social from $12.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, October 14th. Zacks Research raised shares of Sprout Social from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Cantor Fitzgerald raised their price target on shares of Sprout Social from $8.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Sprout Social presently has a consensus rating of "Hold" and a consensus target price of $12.17.
Read Our Latest Stock Analysis on Sprout Social
Institutional Trading of Sprout Social
Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its holdings in shares of Sprout Social by 33.8% during the third quarter. Signaturefd LLC now owns 3,510 shares of the company's stock worth $34,000 after buying an additional 886 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Sprout Social by 341.9% during 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. GAMMA Investing LLC boosted its holdings in shares of Sprout Social by 115.8% during the 2nd quarter. GAMMA Investing LLC now owns 6,368 shares of the company's stock valued at $48,000 after acquiring an additional 3,417 shares in the last quarter. WINTON GROUP Ltd grew its position in Sprout Social by 15.4% during the 2nd quarter. WINTON GROUP Ltd now owns 27,000 shares of the company's stock worth $204,000 after acquiring an additional 3,600 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Sprout Social by 27.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 20,889 shares of the company's stock worth $119,000 after acquiring an additional 4,467 shares during the last quarter.
Latest Sprout Social News
These are some of the SPT news items 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
- 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
- Negative Sentiment: Despite raising its earnings forecasts, KeyCorp maintained an “Underweight” rating and a $10 price target, below the referenced share price of $11.53, signaling a cautious view on valuation or outlook. View analyst coverage
About Sprout Social
(
Get Free Report)
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.
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