Karen Walker Sells 8,000 Shares of Sprout Social, Inc. (NASDAQ:SPT) Stock

Sprout Social, Inc. (NASDAQ:SPT – Get Rating) Director Karen Walker sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $63.91, for a total value of $511,280.00. Following the sale, the director now directly owns 42,158 shares in the company, valued at approximately $2,694,317.78. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Sprout Social Trading Down 5.2 %

Shares of SPT stock opened at $57.03 on Friday. The business’s 50 day moving average is $61.23 and its two-hundred day moving average is $60.09. Sprout Social, Inc. has a twelve month low of $38.39 and a twelve month high of $85.99.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SPT. Point72 Hong Kong Ltd purchased a new position in shares of Sprout Social in the 3rd quarter valued at approximately $25,000. Wipfli Financial Advisors LLC purchased a new position in shares of Sprout Social in the 3rd quarter valued at approximately $28,000. MCF Advisors LLC purchased a new stake in shares of Sprout Social in the third quarter valued at approximately $31,000. Assetmark Inc. boosted its stake in shares of Sprout Social by 37.2% in the third quarter. Assetmark Inc. now owns 682 shares of the company’s stock valued at $41,000 after buying an additional 185 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Sprout Social by 941.1% in the second quarter. Captrust Financial Advisors now owns 760 shares of the company’s stock valued at $44,000 after buying an additional 687 shares in the last quarter. 86.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPT has been the topic of several research analyst reports. KeyCorp raised their target price on Sprout Social from $60.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 18th. Needham & Company LLC restated a “buy” rating and set a $75.00 price target on shares of Sprout Social in a research note on Wednesday, February 22nd. Piper Sandler raised their price target on Sprout Social from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Barclays raised their price target on Sprout Social from $63.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Finally, Robert W. Baird raised their price target on Sprout Social from $64.00 to $76.00 and gave the stock an “outperform” rating in a research note on Thursday, November 17th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Sprout Social has an average rating of “Moderate Buy” and an average price target of $69.67.

About Sprout Social

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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.