Sprout Social (NASDAQ:SPT) Sees Unusually-High Trading Volume

Shares of Sprout Social, Inc. (NASDAQ:SPT) saw unusually-strong trading volume on Monday . Approximately 523,004 shares traded hands during mid-day 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SPT shares. The Goldman Sachs Group downgraded shares of Sprout Social from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $44.00 in a research note on Friday, May 3rd. Piper Sandler lowered Sprout Social from an “overweight” rating to a “neutral” rating and cut their target price for the company from $66.00 to $40.00 in a research report on Friday, May 3rd. Robert W. Baird lowered Sprout Social from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $72.00 to $45.00 in a research note on Friday, May 3rd. Barclays cut their price target on Sprout Social from $72.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, Jefferies Financial Group started coverage on shares of Sprout Social in a research report on Wednesday, February 7th. They set a “buy” rating and a $76.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.07.

Sprout Social Trading Down 0.7 %

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average price of $54.63 and a 200 day moving average price of $56.54. The stock has a market capitalization of $1.51 billion, a PE ratio of -21.52 and a beta of 1.09.

Sprout Social (NASDAQ:SPT) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). The company had revenue of $93.58 million during the quarter, compared to analysts’ expectations of $90.76 million. Sprout Social had a negative net margin of 19.64% and a negative return on equity of 42.60%. Equities analysts expect that Sprout Social, Inc. will post -1.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Preto Joseph Del sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $28.51, for a total value of $42,765.00. Following the completion of the transaction, the chief financial officer now directly owns 171,144 shares of the company’s stock, valued at $4,879,315.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Justyn Russell Howard sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $58.36, for a total value of $2,334,400.00. Following the sale, the chief executive officer now owns 287,912 shares of the company’s stock, valued at $16,802,544.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $28.51, for a total value of $42,765.00. Following the sale, the chief financial officer now owns 171,144 shares in the company, valued at approximately $4,879,315.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,600 shares of company stock worth $5,738,830. 10.97% of the stock is owned by insiders.

Institutional Trading of Sprout Social

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atria Wealth Solutions Inc. boosted its stake in shares of Sprout Social by 4.7% during the third quarter. Atria Wealth Solutions Inc. now owns 4,654 shares of the company’s stock valued at $232,000 after purchasing an additional 208 shares during the period. Verdence Capital Advisors LLC lifted its position in Sprout Social by 3.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 7,345 shares of the company’s stock valued at $451,000 after buying an additional 225 shares during the period. Arcadia Investment Management Corp MI grew its holdings in Sprout Social by 36.7% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,047 shares of the company’s stock worth $64,000 after purchasing an additional 281 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Sprout Social by 14.8% in the third quarter. PNC Financial Services Group Inc. now owns 2,500 shares of the company’s stock worth $125,000 after acquiring an additional 323 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Sprout Social in the 1st quarter worth about $27,000.

Sprout Social Company Profile

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.