Sprout Social (NASDAQ:SPT) Sees Large Volume Increase

Sprout Social, Inc. (NASDAQ:SPT) shares saw unusually-strong trading volume on Monday . Approximately 523,004 shares traded hands during trading, a decline of 30% from the previous session’s volume of 748,775 shares.The stock last traded at $29.49 and had previously closed at $28.82.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays cut their price objective on Sprout Social from $72.00 to $50.00 and set an “overweight” rating for the company in a report on Friday. The Goldman Sachs Group cut shares of Sprout Social from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $44.00 in a research report on Friday. BTIG Research lowered shares of Sprout Social from a “buy” rating to a “neutral” rating in a research report on Friday. William Blair reaffirmed a “market perform” rating on shares of Sprout Social in a report on Friday. Finally, Needham & Company LLC decreased their price target on shares of Sprout Social from $75.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.07.

Sprout Social Trading Down 1.9 %

The company has a market cap of $1.59 billion, a PE ratio of -22.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s 50 day moving average is $55.98 and its 200 day moving average is $56.80.

Sprout Social (NASDAQ:SPT) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.02). The business had revenue of $93.58 million during the quarter, compared to the consensus estimate of $90.76 million. Sprout Social had a negative return on equity of 42.60% and a negative net margin of 19.64%. On average, equities analysts anticipate that Sprout Social, Inc. will post -1.17 earnings per share for the current year.

Insider Transactions at Sprout Social

In related news, CEO Justyn Russell Howard sold 20,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the sale, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Justyn Russell Howard sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $56.52, for a total transaction of $1,130,400.00. Following the completion of the sale, the chief executive officer now owns 406,636 shares in the company, valued at $22,983,066.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Aaron Edward Frederick Rankin sold 22,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $56.95, for a total value of $1,252,900.00. Following the transaction, the director now directly owns 44,487 shares of the company’s stock, valued at $2,533,534.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,100 shares of company stock valued at $5,126,065. Insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC purchased a new position in shares of Sprout Social in the 1st quarter worth approximately $27,000. RiverPark Advisors LLC acquired a new stake in Sprout Social in the third quarter valued at approximately $37,000. Guinness Atkinson Asset Management Inc purchased a new position in Sprout Social in the third quarter worth $40,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Sprout Social during the third quarter worth $47,000. Finally, Arcadia Investment Management Corp MI lifted its holdings 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 purchasing 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.