Sprout Social, Inc. (NASDAQ:SPT) Sees Large Decrease in Short Interest

Sprout Social, Inc. (NASDAQ:SPT) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 5,050,000 shares, a decrease of 12.9% from the August 31st total of 5,800,000 shares. Based on an average trading volume of 632,500 shares, the days-to-cover ratio is presently 8.0 days.

Insider Activity

In related news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $36.13, for a total value of $722,600.00. Following the sale, the chief executive officer now owns 398,229 shares in the company, valued at $14,388,013.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sprout Social news, CEO Justyn Russell Howard sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $36.13, for a total transaction of $722,600.00. Following the sale, the chief executive officer now directly owns 398,229 shares of the company’s stock, valued at $14,388,013.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aaron Edward Frederick Rankin sold 1,181 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $29.23, for a total value of $34,520.63. Following the sale, the director now owns 42,122 shares in the company, valued at $1,231,226.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,782 shares of company stock worth $2,615,786. 10.97% of the stock is currently owned by insiders.

Institutional Trading of Sprout Social

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fidelis Capital Partners LLC bought a new stake in Sprout Social during the first quarter valued at about $27,000. Arizona State Retirement System grew its position in shares of Sprout Social by 3.9% in the 2nd quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock worth $497,000 after buying an additional 529 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Sprout Social by 49.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock worth $111,000 after acquiring an additional 613 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Sprout Social during the 1st quarter worth approximately $37,000. Finally, Truist Financial Corp lifted its position in Sprout Social by 6.1% during the second quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock valued at $402,000 after acquiring an additional 646 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SPT shares. KeyCorp downgraded shares of Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Thursday, August 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $46.00 price objective on shares of Sprout Social in a research report on Friday, August 2nd. Barclays dropped their target price on Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, July 16th. Robert W. Baird increased their price target on Sprout Social from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Sprout Social in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.31.

Sprout Social Stock Down 0.3 %

Shares of Sprout Social stock opened at $29.07 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -23.26 and a beta of 0.98. The firm’s 50-day moving average is $31.62 and its two-hundred day moving average is $38.20. Sprout Social has a 1 year low of $25.05 and a 1 year high of $68.41.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $99.40 million for the quarter, compared to the consensus estimate of $98.70 million. Sprout Social had a negative net margin of 19.60% and a negative return on equity of 44.38%. The company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period last year, the firm earned ($0.23) earnings per share. As a group, research analysts expect that Sprout Social will post -0.9 earnings per share for the current fiscal year.

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.