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Sprout Social Inc (SPT) Becoming More Attractive for Investors

Sprout Social Inc’s recently made public that its Chairman and CEO Howard Justyn Russell unloaded Company’s shares for reported $1.13 million on Apr 08 ’24. In the deal valued at $56.52 per share,20,000 shares were sold. As a result of this transaction, Howard Justyn Russell now holds 0 shares worth roughly $0.0.

Then, Rankin Aaron Edward Frederick sold 22,000 shares, generating $1,252,800 in total proceeds. Upon selling the shares at $56.95, the Director now owns 0 shares.

Before that, Barretto Ryan Paul sold 5,600 shares. Sprout Social Inc shares valued at $318,936 were divested by the President at a price of $56.95 per share. As a result of the transaction, Barretto Ryan Paul now holds 198,175 shares, worth roughly $10.31 million.

Oppenheimer initiated its Sprout Social Inc [SPT] rating to an Outperform in a research note published on April 18, 2024; the price target was $76. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who began to cover the stock in late March with a ‘”an Overweight”‘ rating. Jefferies began covering SPT with “Buy” recommendation on February 07, 2024. Cantor Fitzgerald revised its rating on January 02, 2024. It rated SPT as “an Overweight” which previously was an “a Neutral”.

Price Performance Review of SPT

On Monday, Sprout Social Inc [NASDAQ:SPT] saw its stock jump 1.25% to $52.03. Over the last five days, the stock has gained 1.44%. Sprout Social Inc shares have fallen nearly -15.32% since the year began. Nevertheless, the stocks have risen 3.98% over the past one year. While a 52-week high of $68.41 was reached on 02/12/24, a 52-week low of $37.00 was recorded on 04/25/24. SMA at 50 days reached $57.62, while 200 days put it at $54.68. A total of 0.61 million shares were traded, compared to the trading of 0.37 million shares in the previous session.

Levels Of Support And Resistance For SPT Stock

The 24-hour chart illustrates a support level at 51.45, which if violated will result in even more drops to 50.87. On the upside, there is a resistance level at 52.55. A further resistance level may holdings at 53.07. The Relative Strength Index (RSI) on the 14-day chart is 38.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.00%. Stochastics %K at 19.11% indicates the stock is a buying.

The most recent change occurred on October 11, 2023 when Stephens began covering the stock and recommended ‘”an Overweight”‘ rating along with a $78 price target.

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