Taking a Closer Look At Sprout Social Inc. (SPT) Following Its Recent Trade


Sprout Social Inc.’s filing revealed that its Director Walker Karen unloaded Company’s shares for reported $0.13 million on Aug 09. In the deal valued at $44.56 per share,2,959 shares were sold. As a result of this transaction, Walker Karen now holds 3,000 shares worth roughly $ 0.16 million.

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Then, Del Preto Joseph sold 1,500 shares, generating $69,930 in total proceeds. Upon selling the shares at $46.62, the CFO and Treasurer now owns 137,885 shares.

Before that, Barretto Ryan Paul sold 11,200 shares. Sprout Social Inc. shares valued at $595,151 were divested by the President at a price of $53.14 per share. As a result of the transaction, Barretto Ryan Paul now holds 242,975 shares, worth roughly $12.83 million.

Goldman initiated its Sprout Social Inc. [SPT] rating to a Buy in a research note published on Friday, July 06, 2023; the price target was $61. PT values the company’s stock at a premium of 13.43 to its Friday closing price.

Price Performance Review of SPT

On Friday, Sprout Social Inc. [NASDAQ:SPT] saw its stock fall -1.36% to $52.81. On the same session, the stock had its day’s lowest price of $52.33, but rose to a high of $54.44. Over the last five days, the stock has gained 11.37%. Sprout Social Inc. shares have fallen nearly -6.46% since the year began. Nevertheless, the stocks have fallen -12.04% over the past one year. While a 52-week high of $74.07 was reached on 02/02/23, a 52-week low of $37.00 was recorded on 05/03/23. SMA at 50 days reached $49.69, while 200 days put it at $54.22. A total of 0.54 million shares were traded, compared to the trading of 0.7 million shares in the previous session.

Levels Of Support And Resistance For SPT Stock

The 24-hour chart illustrates a support level at 51.95, which if violated will result in even more drops to 51.08. On the upside, there is a resistance level at 54.06. A further resistance level may holdings at 55.30. The Relative Strength Index (RSI) on the 14-day chart is 60.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.84, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.83%. Stochastics %K at 92.56% indicates the stock is a selling.

How much short interest is there in Sprout Social Inc.?

A steep rise in short interest was recorded in Sprout Social Inc. stocks on Aug 14, 2023, dropping by -1.47 million shares to a total of 5.88 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 7.35 million shares. There was a decline of -25.0%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 12.32% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.45.

Sprout Social Inc. [SPT] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 4,756,566 shares, or roughly 9.90% of the outstanding SPT shares. In other words, the investor’s shares have risen by 325,646 from its previous 13-F filing of 4430920.0. Additionally, BlackRock Fund Advisors increased 5.76% of its stake after which the total value it holdings stand at $184,202,389, while Wellington Management Co. LLP added 293.43% of its stake to hold $177.14 million in the firm. Over the last quarter, Invesco Advisers, Inc. purchased 13,893 shares of Sprout Social Inc., while ClearBridge Investments LLC bought 512,466 shares. At present, Granahan Investment Management, L is holding 2,213,276 shares valued at $126.47 million. Macquarie Investment Management B owned 1,888,709 shares of the company at the time of its most recent 13F filing, worth $107.92 million.

According to FactSet, Sprout Social Inc.’s share price will average $61.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 13.0 percent from its previous closing price of $53.54. Analysts expect Sprout Social Inc. stock to reach the higher price of $75.00, while the lowest price estimate is $44.00. However, 13 analysts have rated SPT stock as a Buy in their predictions for 2023.


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