Sprout Social (NASDAQ:SPT) Trading Down 7.4% – Should You Sell?

Sprout Social, Inc. (NASDAQ:SPT)’s share price fell 7.4% on Thursday . The company traded as low as $31.47 and last traded at $31.02. 449,372 shares were traded during trading, a decline of 18% from the average session volume of 547,159 shares. The stock had previously closed at $33.50.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler decreased their target price on Sprout Social from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. Jefferies Financial Group upped their price target on Sprout Social from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Scotiabank started coverage on shares of Sprout Social in a report on Monday, November 18th. They issued a “sector perform” rating and a $28.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of Sprout Social in a research note on Wednesday, January 15th. Finally, Oppenheimer cut their price target on Sprout Social from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.58.

Sprout Social Stock Down 6.2 %

The company has a market cap of $1.80 billion, a PE ratio of -26.18 and a beta of 1.06. The company has a fifty day moving average of $32.60 and a two-hundred day moving average of $30.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.96 and a current ratio of 0.96.

Insider Buying and Selling

In related news, Director Karen Walker sold 5,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.24, for a total transaction of $171,200.00. Following the sale, the director now directly owns 35,665 shares of the company’s stock, valued at approximately $1,221,169.60. This represents a 12.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Justyn Russell Howard sold 40,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $31.67, for a total transaction of $1,266,800.00. Following the transaction, the insider now owns 27,136 shares of the company’s stock, valued at $859,397.12. This represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 120,265 shares of company stock worth $3,837,006 in the last three months. 10.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Sprout Social

Several hedge funds and other institutional investors have recently made changes to their positions in SPT. Truist Financial Corp raised its holdings in Sprout Social by 6.1% during the second quarter. Truist Financial Corp now owns 11,260 shares of the company’s stock worth $402,000 after purchasing an additional 646 shares in the last quarter. CFM Wealth Partners LLC purchased a new stake in Sprout Social during the 3rd quarter worth about $355,000. Emerald Mutual Fund Advisers Trust grew its stake in Sprout Social by 133.3% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 145,052 shares of the company’s stock worth $4,217,000 after acquiring an additional 82,879 shares during the period. Emerald Advisers LLC increased its stake in Sprout Social by 116.0% in the third quarter. Emerald Advisers LLC now owns 263,041 shares of the company’s stock valued at $7,647,000 after purchasing an additional 141,252 shares during the last quarter. Finally, Impax Asset Management Group plc increased its stake in shares of Sprout Social by 46.6% during the 3rd quarter. Impax Asset Management Group plc now owns 188,724 shares of the company’s stock valued at $5,486,000 after acquiring an additional 60,000 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.