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

Sprout Social, Inc. (NASDAQ:SPT) CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $36.66, for a total value of $54,990.00. Following the transaction, the chief financial officer now directly owns 165,624 shares in the company, valued at $6,071,775.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, June 3rd, Preto Joseph Del sold 1,500 shares of Sprout Social stock. The stock was sold at an average price of $32.39, for a total value of $48,585.00.
• On Monday, May 6th, Preto Joseph Del sold 1,500 shares of Sprout Social stock. The shares were sold at an average price of $28.51, for a total value of $42,765.00.

Sprout Social Trading Down 2.4 %

Shares of SPT opened at $36.37 on Wednesday. The business has a 50-day moving average of $34.81 and a 200 day moving average of $51.11. Sprout Social, Inc. has a fifty-two week low of $25.68 and a fifty-two week high of $68.41. The firm has a market cap of $2.06 billion, a P/E ratio of -29.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97.

Sprout Social (NASDAQ:SPT) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.10. Sprout Social had a negative return on equity of 42.51% and a negative net margin of 19.64%. The company had revenue of $96.78 million during the quarter, compared to analyst estimates of $97.29 million. As a group, research analysts forecast that Sprout Social, Inc. will post -0.84 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Oppenheimer dropped their price objective on Sprout Social from $76.00 to $43.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Morgan Stanley dropped their price objective on Sprout Social from $65.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Friday, May 3rd. The Goldman Sachs Group lowered Sprout Social from a “buy” rating to a “neutral” rating and decreased their target price for the company from $80.00 to $44.00 in a research report on Friday, May 3rd. William Blair reaffirmed a “market perform” rating on shares of Sprout Social in a research report on Friday, May 3rd. Finally, Piper Sandler lowered Sprout Social from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $66.00 to $40.00 in a research report on Friday, May 3rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.57.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC purchased a new position in Sprout Social during the 1st quarter valued at about $27,000. EntryPoint Capital LLC bought a new stake in shares of Sprout Social during the 1st quarter valued at about $37,000. Covestor Ltd boosted its position in shares of Sprout Social by 35,450.0% during the 1st quarter. Covestor Ltd now owns 711 shares of the company’s stock valued at $42,000 after acquiring an additional 709 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Sprout Social during the 1st quarter valued at about $61,000. Finally, Arcadia Investment Management Corp MI boosted its position in shares of Sprout Social by 36.7% during the 4th quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock valued at $64,000 after acquiring an additional 281 shares during the last quarter.

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.