Sprout Social (NASDAQ:SPT) Lowered to “Sector Weight” at KeyCorp

KeyCorp lowered shares of Sprout Social (NASDAQ:SPT) from an overweight rating to a sector weight rating in a research report released on Friday, MarketBeat Ratings reports.

SPT has been the subject of several other reports. Barclays lowered their target price on Sprout Social from $75.00 to $72.00 and set an overweight rating for the company in a research report on Wednesday, February 21st. Jefferies Financial Group began coverage on Sprout Social in a research note on Wednesday, February 7th. They issued a buy rating and a $76.00 price objective on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $74.00 target price on shares of Sprout Social in a report on Wednesday, February 21st. The Goldman Sachs Group raised their price target on shares of Sprout Social from $65.00 to $81.00 and gave the stock a buy rating in a report on Tuesday, January 23rd. Finally, Morgan Stanley dropped their price target on shares of Sprout Social from $73.00 to $65.00 and set an equal weight rating on the stock in a research report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Sprout Social currently has an average rating of Moderate Buy and a consensus price target of $57.07.

Sprout Social Trading Down 40.1 %

Sprout Social stock traded down $19.33 during trading hours on Friday, hitting $28.82. The stock had a trading volume of 13,470,229 shares, compared to its average volume of 679,800. The business’s 50 day simple moving average is $55.98 and its 200-day simple moving average is $56.71. Sprout Social has a one year low of $27.85 and a one year high of $68.41. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -23.06 and a beta of 1.09. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38.

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

Insider Activity at Sprout Social

In related news, CFO Preto Joseph Del sold 1,500 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.71, for a total transaction of $89,565.00. Following the transaction, the chief financial officer now owns 127,322 shares in the company, valued at approximately $7,602,396.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sprout Social news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $59.71, for a total transaction of $89,565.00. Following the transaction, the chief financial officer now owns 127,322 shares in the company, valued at $7,602,396.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Ryan Paul Barretto sold 5,600 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.63, for a total transaction of $333,928.00. Following the transaction, the president now owns 209,375 shares in the company, valued at approximately $12,485,031.25. The disclosure for this sale can be found here. Insiders have sold 140,200 shares of company stock worth $8,171,958 in the last quarter. Company insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Knights of Columbus Asset Advisors LLC lifted its holdings in Sprout Social by 162.5% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 74,357 shares of the company’s stock worth $4,568,000 after acquiring an additional 46,033 shares during the period. Natixis Advisors L.P. raised its stake in shares of Sprout Social by 43.7% during the 3rd quarter. Natixis Advisors L.P. now owns 61,300 shares of the company’s stock worth $3,058,000 after purchasing an additional 18,644 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Sprout Social by 244.1% in the 3rd quarter. Baillie Gifford & Co. now owns 4,404,402 shares of the company’s stock worth $219,692,000 after buying an additional 3,124,376 shares during the last quarter. Corton Capital Inc. grew its position in Sprout Social by 16.6% during the third quarter. Corton Capital Inc. now owns 6,899 shares of the company’s stock valued at $344,000 after buying an additional 983 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Sprout Social by 3.9% during the third quarter. Vanguard Group Inc. now owns 5,084,389 shares of the company’s stock worth $253,609,000 after buying an additional 191,471 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.