Analysts Set Sprout Social, Inc. (NASDAQ:SPT) PT at $21.91

Sprout Social, Inc. (NASDAQ:SPT) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $21.9091.

SPT has been the topic of several research analyst reports. Barclays reduced their price objective on Sprout Social from $26.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, January 12th. Morgan Stanley dropped their target price on shares of Sprout Social from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Thursday, November 13th. Jefferies Financial Group reduced their price target on shares of Sprout Social from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sprout Social in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group dropped their price target on shares of Sprout Social from $25.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 7th.

Insider Activity

In other news, insider Justyn Russell Howard sold 40,000 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $10.70, for a total transaction of $428,000.00. Following the completion of the sale, the insider owned 7,417 shares in the company, valued at approximately $79,361.90. This represents a 84.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Paul Barretto purchased 93,984 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was bought at an average cost of $10.67 per share, for a total transaction of $1,002,809.28. Following the purchase, the chief executive officer directly owned 875,256 shares in the company, valued at $9,338,981.52. This represents a 12.03% increase in their position. The SEC filing for this purchase provides additional information. 10.12% of the stock is owned by insiders.

Institutional Trading of Sprout Social

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Sprout Social by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 6,822,928 shares of the company’s stock worth $76,894,000 after buying an additional 274,527 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its stake in shares of Sprout Social by 9.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 4,723,921 shares of the company’s stock worth $61,033,000 after acquiring an additional 421,189 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Sprout Social by 8.7% during the second quarter. Jennison Associates LLC now owns 2,392,450 shares of the company’s stock worth $50,026,000 after acquiring an additional 192,007 shares in the last quarter. State Street Corp increased its holdings in Sprout Social by 8.2% in the fourth quarter. State Street Corp now owns 1,546,142 shares of the company’s stock worth $17,425,000 after buying an additional 117,757 shares during the last quarter. Finally, Topline Capital Management LLC acquired a new stake in Sprout Social in the third quarter valued at approximately $17,555,000.

Sprout Social Trading Down 2.5%

NASDAQ:SPT opened at $7.09 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $9.55 and its two-hundred day moving average is $11.35. Sprout Social has a 52 week low of $6.51 and a 52 week high of $29.32. The company has a market cap of $419.66 million, a PE ratio of -8.75 and a beta of 0.90.

About Sprout Social

Sprout Social (NASDAQ: SPT) is a Chicago-based software company specializing in social media management solutions for businesses of all sizes. The company provides a cloud-based platform designed to help organizations improve their social media presence through a suite of tools for content scheduling, community engagement, social listening and analytics. Sprout Social’s platform is built to streamline the workflows of marketing, customer care and public relations teams by providing a centralized hub for managing multiple social channels.

The company’s product offerings include publishing and scheduling capabilities that allow users to plan and automate social content across networks such as Facebook, Instagram, Twitter, LinkedIn and Pinterest.