The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Sprout Social Inc shares valued at $1,130,325 were sold by Howard Justyn Russell on Apr 08 ’24. At $56.52 per share, Howard Justyn Russell sold 20,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Rankin Aaron Edward Frederick sold 22,000 shares, netting a total of over 1,252,800 in proceeds. Following the sale of shares at $56.95 each, the insider now holds 0 shares.
Before that, Barretto Ryan Paul had sold 5,600 shares from its account. In a trade valued at $318,936, the President traded Sprout Social Inc shares for $56.95 each. Upon closing the transaction, the insider’s holdings decreased to 5,600 shares, worth approximately $10.34 million.
As published in their initiating research note from KeyBanc Capital Markets on March 21, 2024, Sprout Social Inc [SPT] has been an Overweight and the price target has been revised to $83. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in early February. As of January 02, 2024, Cantor Fitzgerald has increased its “Neutral” rating to a “an Overweight” for SPT. Earlier on October 11, 2023, Stephens initiated its rating. Their recommendation was “an Overweight” for SPT stock.
Analyzing SPT Stock Performance
During the last five days, there has been a drop of approximately -6.59%. Over the course of the year, Sprout Social Inc shares have dropped approximately -15.10%. Shares of the company reached a 52-week high of $68.41 on 02/12/24 and a 52-week low of $50.71 on 04/16/24. A 50-day SMA is recorded $59.47, while a 200-day SMA reached $54.58. Nevertheless, trading volume fell to 0.83 million shares from 0.54 million shares the previous day.
Support And Resistance Levels for Sprout Social Inc (SPT)
According to the 24-hour chart, there is a support level at 51.62, which, if violated, would cause prices to drop to 51.08. In the upper region, resistance lies at 53.10. The next price resistance is at 54.04. RSI (Relative Strength Index) is 31.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.81, which suggests the price will decrease in the coming days. Percent R is at 86.36%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
