Sprout Social, Inc. (NASDAQ:SPT) CEO Sells $520,632.00 in Stock

Sprout Social, Inc. (NASDAQ:SPT) CEO Ryan Paul Barretto sold 16,800 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $30.99, for a total value of $520,632.00. Following the completion of the transaction, the chief executive officer now directly owns 153,375 shares in the company, valued at $4,753,091.25. This trade represents a 9.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Ryan Paul Barretto also recently made the following trade(s):

• On Tuesday, December 3rd, Ryan Paul Barretto sold 13,465 shares of Sprout Social stock. The stock was sold at an average price of $31.45, for a total value of $423,474.25.
• On Monday, October 7th, Ryan Paul Barretto sold 16,800 shares of Sprout Social stock. The shares were sold at an average price of $28.25, for a total value of $474,600.00.

Sprout Social Stock Down 1.3 %

NASDAQ SPT traded down $0.41 during trading hours on Tuesday, reaching $30.71. 423,045 shares of the company traded hands, compared to its average volume of 721,758. The company has a 50 day moving average of $30.54 and a two-hundred day moving average of $31.55. The stock has a market capitalization of $1.76 billion, a PE ratio of -25.59 and a beta of 1.03. Sprout Social, Inc. has a 12 month low of $25.05 and a 12 month high of $68.41. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.19.

Sprout Social (NASDAQ:SPT) last released its earnings results on Thursday, November 7th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.06). Sprout Social had a negative return on equity of 40.94% and a negative net margin of 17.24%. The firm had revenue of $102.64 million for the quarter, compared to the consensus estimate of $102.04 million. As a group, equities analysts expect that Sprout Social, Inc. will post -0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SPT. Piper Sandler cut their price target on shares of Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Sprout Social in a research report on Friday, November 8th. Scotiabank assumed coverage on Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 price target for the company. Oppenheimer reduced their price objective on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 3rd. Finally, Barclays lowered their target price on Sprout Social from $48.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Sprout Social has a consensus rating of “Hold” and a consensus target price of $45.46.

Hedge Funds Weigh In On Sprout Social

A number of hedge funds have recently added to or reduced their stakes in SPT. Impax Asset Management Group plc raised its position in shares of Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock worth $5,486,000 after purchasing an additional 60,000 shares during the period. Emerald Advisers LLC acquired a new stake in Sprout Social in the second quarter worth $4,345,000. Principal Financial Group Inc. lifted its stake in Sprout Social by 20.0% in the third quarter. Principal Financial Group Inc. now owns 1,199,451 shares of the company’s stock valued at $34,868,000 after buying an additional 200,190 shares during the last quarter. M&T Bank Corp acquired a new position in shares of Sprout Social during the third quarter valued at $1,074,000. Finally, Zacks Investment Management bought a new position in shares of Sprout Social during the third quarter worth about $2,120,000.

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.