Sprout Social Inc [SPT] Investment Appeal on the Rise

Sprout Social Inc’s filing revealed that its Chairman and CEO Howard Justyn Russell unloaded Company’s shares for reported $1.19 million on Feb 06. In the deal valued at $59.34 per share,20,000 shares were sold. As a result of this transaction, Howard Justyn Russell now holds 0 shares worth roughly $0.0.

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Then, Rankin Aaron Edward Frederick sold 44,000 shares, generating $2,622,268 in total proceeds. Upon selling the shares at $59.60, the Director now owns 0 shares.

Before that, Barretto Ryan Paul sold 5,600 shares. Sprout Social Inc shares valued at $333,954 were divested by the President at a price of $59.63 per share. As a result of the transaction, Barretto Ryan Paul now holds 209,375 shares, worth roughly $13.82 million.

Jefferies initiated its Sprout Social Inc [SPT] rating to a Buy in a research note published on February 07, 2024; the price target was $76.

Price Performance Review of SPT

On Friday, Sprout Social Inc [NASDAQ:SPT] saw its stock jump 4.58% to $65.99. Over the last five days, the stock has gained 6.71%. Sprout Social Inc shares have risen nearly 7.41% since the year began. Nevertheless, the stocks have risen 6.30% over the past one year. While a 52-week high of $68.30 was reached on 02/09/24, a 52-week low of $37.00 was recorded on 01/05/24. SMA at 50 days reached $60.52, while 200 days put it at $51.45. A total of 0.66 million shares were traded, compared to the trading of 0.43 million shares in the previous session.

Levels Of Support And Resistance For SPT Stock

The 24-hour chart illustrates a support level at 64.42, which if violated will result in even more drops to 62.84. On the upside, there is a resistance level at 67.21. A further resistance level may holdings at 68.43. The Relative Strength Index (RSI) on the 14-day chart is 60.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.30, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 9.60%. Stochastics %K at 62.01% indicates the stock is a holding.

How much short interest is there in Sprout Social Inc?

A steep rise in short interest was recorded in Sprout Social Inc stocks on Jan 31, 2024, dropping by -0.18 million shares to a total of 9.1 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 9.28 million shares. There was a decline of -1.98%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 18.93% of the overall stock float, the days-to-cover ratio (short ratio) fell to 17.69.

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