Insider Selling: Sprout Social (NYSE:SPT) CFO Sells $1,621,200.00 in Stock

Sprout Social (NYSE:SPT) CFO Preto Joseph Del sold 60,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $27.02, for a total transaction of $1,621,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

SPT stock opened at $27.90 on Friday. Sprout Social has a twelve month low of $10.54 and a twelve month high of $33.52. The company has a 50 day moving average price of $25.10.

Sprout Social (NYSE:SPT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.21). The firm had revenue of $30.54 million during the quarter, compared to analyst estimates of $29.21 million.

Several hedge funds have recently bought and sold shares of the company. UBS Group AG acquired a new stake in shares of Sprout Social in the fourth quarter valued at approximately $29,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Sprout Social during the fourth quarter worth $37,000. Strs Ohio acquired a new stake in shares of Sprout Social during the first quarter worth $38,000. Citigroup Inc. acquired a new stake in shares of Sprout Social during the first quarter worth $45,000. Finally, Deutsche Bank AG acquired a new stake in shares of Sprout Social during the first quarter worth $48,000.

SPT has been the topic of several recent analyst reports. Stifel Nicolaus increased their price target on shares of Sprout Social from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Morgan Stanley increased their price target on shares of Sprout Social from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. KeyCorp increased their price target on shares of Sprout Social from $27.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Canaccord Genuity reiterated a “buy” rating and issued a $24.00 price target on shares of Sprout Social in a research note on Thursday, May 7th. Finally, BTIG Research initiated coverage on shares of Sprout Social in a research note on Monday, June 8th. They issued a “buy” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Sprout Social has an average rating of “Buy” and a consensus price target of $28.00.

About Sprout Social

Sprout Social, Inc designs and develops a platform for social media management. The company offers cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. It provides various integrated tools in a range of functions comprising social engagement/response, publishing, reporting and analytics, social listening and business intelligence, reputation management, employee advocacy, and automation and workflows.

Featured Story: The Structure of a Futures Contract

Receive News & Ratings for Sprout Social Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprout Social and related companies with MarketBeat.com's FREE daily email newsletter.