Preto Joseph Del Sells 1,500 Shares of Sprout Social, Inc. (NASDAQ:SPT) Stock

Sprout Social, Inc. (NASDAQ:SPT) CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.27, for a total value of $42,405.00. Following the completion of the sale, the chief financial officer now directly owns 158,614 shares of the company’s stock, valued at approximately $4,484,017.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Preto Joseph Del also recently made the following trade(s):

• On Tuesday, September 3rd, Preto Joseph Del sold 1,500 shares of Sprout Social stock. The shares were sold at an average price of $29.81, for a total value of $44,715.00.
• On Monday, August 5th, Preto Joseph Del sold 1,500 shares of Sprout Social stock. The stock was sold at an average price of $31.02, for a total value of $46,530.00.

Sprout Social Stock Performance

Shares of NASDAQ:SPT traded down $0.29 during mid-day trading on Tuesday, reaching $27.86. 233,938 shares of the company traded hands, compared to its average volume of 784,932. The company’s 50 day moving average price is $30.50 and its 200-day moving average price is $37.00. The firm has a market cap of $1.58 billion, a PE ratio of -22.38 and a beta of 0.97. Sprout Social, Inc. has a 52 week low of $25.05 and a 52 week high of $68.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $99.40 million during the quarter, compared to analyst estimates 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 revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.23) earnings per share. On average, equities analysts expect that Sprout Social, Inc. will post -0.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Sprout Social

Institutional investors and hedge funds have recently bought and sold shares of the business. Diversified Trust Co boosted its stake in shares of Sprout Social by 3.8% in the third quarter. Diversified Trust Co now owns 15,770 shares of the company’s stock worth $458,000 after acquiring an additional 571 shares during the period. SG Americas Securities LLC purchased a new position in Sprout Social in the 3rd quarter worth approximately $576,000. Clearbridge Investments LLC boosted its stake in Sprout Social by 3.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,694,797 shares of the company’s stock worth $96,150,000 after purchasing an additional 100,890 shares during the period. Truist Financial Corp grew its holdings in Sprout Social by 6.1% during the 2nd quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock valued at $402,000 after buying an additional 646 shares in the last quarter. Finally, Quarry LP raised its position in shares of Sprout Social by 2,346.9% during the second quarter. Quarry LP now owns 783 shares of the company’s stock valued at $28,000 after buying an additional 751 shares during the last quarter.

Wall Street Analysts Forecast Growth

SPT has been the subject of a number of research analyst reports. Barclays reduced their price target on shares of Sprout Social from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $46.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. KeyCorp cut Sprout Social from a “sector weight” rating to an “underweight” rating and set a $28.00 price target on the stock. in a report on Thursday, August 22nd. Robert W. Baird lifted their price objective 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 reissued a “buy” rating and issued a $55.00 target price on shares of Sprout Social in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Sprout Social currently has an average rating of “Hold” and an average price target of $51.31.

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.