Sprout Social (NASDAQ:SPT) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Sprout Social, Inc. (NASDAQ:SPT)’s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $11.09 and traded as high as $11.23. Sprout Social shares last traded at $11.12, with a volume of 863,588 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on SPT shares. Morgan Stanley boosted their price objective on Sprout Social from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Zacks Research lowered Sprout Social from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Cantor Fitzgerald lifted their price target on Sprout Social from $8.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Stifel Nicolaus upped their price target on Sprout Social from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Finally, Canaccord Genuity Group increased their price objective on Sprout Social from $10.00 to $13.50 and gave the company a “hold” rating in a research report on Wednesday, November 4th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Sprout Social presently has an average rating of “Hold” and an average target price of $12.17.

Sprout Social Stock Performance

The firm’s fifty day moving average price is $11.09 and its 200-day moving average price is $8.31. The company has a market cap of $673.76 million, a P/E ratio of -24.71 and a beta of 0.95. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14.

Sprout Social (NASDAQ:SPT) last released its earnings results on Tuesday, November 3rd. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.16. Sprout Social had a negative net margin of 5.42% and a positive return on equity of 1.09%. The business had revenue of $125.15 million during the quarter, compared to analysts’ expectations of $123.83 million. As a group, research analysts forecast that Sprout Social, Inc. will post 0.07 EPS for the current fiscal year.

Insider Buying and Selling

In other Sprout Social news, insider Justyn Howard sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The stock was sold at an average price of $11.02, for a total value of $440,800.00. Following the completion of the sale, the insider owned 7,417 shares in the company, valued at approximately $81,735.34. This trade represents a 84.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 51,612 shares of company stock valued at $573,757. Corporate insiders own 9.60% of the company’s stock.

Institutional Trading of Sprout Social

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC boosted its stake in Sprout Social by 33.8% during the third quarter. Signaturefd LLC now owns 3,510 shares of the company’s stock worth $34,000 after buying an additional 886 shares in the last quarter. Essential Partners LLC increased its holdings in Sprout Social by 724.9% in the 1st quarter. Essential Partners LLC now owns 6,550 shares of the company’s stock valued at $37,000 after buying an additional 5,756 shares during the period. Parallel Advisors LLC increased its holdings in Sprout Social by 341.9% in the 3rd quarter. Parallel Advisors LLC now owns 4,406 shares of the company’s stock valued at $43,000 after buying an additional 3,409 shares during the period. GAMMA Investing LLC raised its stake in shares of Sprout Social by 115.8% in the 2nd quarter. GAMMA Investing LLC now owns 6,368 shares of the company’s stock valued at $48,000 after buying an additional 3,417 shares in the last quarter. Finally, Commonwealth Financial Services LLC acquired a new position in shares of Sprout Social in the 1st quarter valued at $58,000.

About Sprout Social

Sprout Social, Inc is a software company that provides a cloud-based social media management platform for businesses and organizations. Its platform helps customers manage social media publishing, engagement, customer care, analytics, listening and employee advocacy from a centralized environment.

The company’s products are designed to help marketing, communications, sales and customer service teams plan and publish content, monitor conversations, respond to audiences, evaluate social media performance and gain insights from online activity.