Needham & Company LLC restated their buy rating on shares of Sprout Social (NASDAQ:SPT – Free Report) in a research note released on Friday morning, Benzinga reports. They currently have a $75.00 target price on the stock.
SPT has been the topic of several other research reports. Cantor Fitzgerald lowered their price objective on shares of Sprout Social from $52.00 to $46.00 in a research note on Wednesday, May 3rd. KeyCorp raised their target price on Sprout Social from $58.00 to $67.00 and gave the stock an overweight rating in a report on Wednesday, August 2nd. Robert W. Baird reduced their price target on Sprout Social from $78.00 to $60.00 in a research report on Wednesday, May 3rd. Piper Sandler lowered their price objective on Sprout Social from $78.00 to $56.00 in a research report on Wednesday, May 3rd. Finally, Stifel Nicolaus reduced their target price on shares of Sprout Social from $75.00 to $60.00 in a report on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $61.82.
Check Out Our Latest Stock Analysis on SPT
Sprout Social Price Performance
Insider Activity at Sprout Social
In other Sprout Social news, CTO Aaron Edward Frederick Rankin sold 18,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $55.24, for a total value of $994,320.00. Following the sale, the chief technology officer now owns 43,600 shares in the company, valued at approximately $2,408,464. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Sprout Social news, CFO Preto Joseph Del sold 2,497 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $43.89, for a total transaction of $109,593.33. Following the completion of the transaction, the chief financial officer now owns 143,301 shares in the company, valued at $6,289,480.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Aaron Edward Frederick Rankin sold 18,000 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $55.24, for a total transaction of $994,320.00. Following the completion of the sale, the chief technology officer now owns 43,600 shares in the company, valued at $2,408,464. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,664 shares of company stock valued at $2,827,673. Corporate insiders own 11.93% of the company’s stock.
Institutional Investors Weigh In On Sprout Social
Large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its holdings in shares of Sprout Social by 5.9% in the 1st quarter. Raymond James & Associates now owns 25,822 shares of the company’s stock worth $2,069,000 after acquiring an additional 1,428 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Sprout Social by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 434,219 shares of the company’s stock valued at $34,789,000 after buying an additional 13,742 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Sprout Social by 105.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,668 shares of the company’s stock worth $213,000 after buying an additional 1,372 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Sprout Social by 56.3% during the 1st quarter. MetLife Investment Management LLC now owns 24,479 shares of the company’s stock worth $1,961,000 after acquiring an additional 8,816 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Sprout Social by 2.8% in the 1st quarter. Rhumbline Advisers now owns 46,537 shares of the company’s stock valued at $3,729,000 after acquiring an additional 1,257 shares during the last quarter. 91.07% of the stock is owned by institutional investors.
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. It provides cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action.
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