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Potential Price Increase for Sprout Social Inc (SPT) After Recent Insider Activity

In a filing, Sprout Social Inc revealed its Chairman and CEO Howard Justyn Russell unloaded Company’s shares for reported $0.68 million on Jun 06 ’24. In the deal valued at $34.05 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, Barretto Ryan Paul sold 15,586 shares, generating $500,872 in total proceeds. Upon selling the shares at $32.14, the President now owns 484,115 shares.

Before that, Del Preto Joseph sold 2,520 shares. Sprout Social Inc shares valued at $80,983 were divested by the CFO and Treasurer at a price of $32.14 per share. As a result of the transaction, Del Preto Joseph now holds 167,124 shares, worth roughly $6.23 million.

William Blair downgraded its Sprout Social Inc [SPT] rating to a Mkt perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who decreased its forecast for the stock in early May from “an Outperform” to “a Neutral”. Piper Sandler also remained covering SPT and has decreased its forecast on May 03, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. KeyBanc Capital Markets revised its rating on May 03, 2024. It rated SPT as “a Sector weight” which previously was an “an Overweight”.

Price Performance Review of SPT

On Monday, Sprout Social Inc [NASDAQ:SPT] saw its stock jump 4.46% to $37.27. Over the last five days, the stock has gained 15.71%. Sprout Social Inc shares have fallen nearly -39.34% since the year began. Nevertheless, the stocks have fallen -20.60% over the past one year. While a 52-week high of $68.41 was reached on 02/12/24, a 52-week low of $25.68 was recorded on 05/08/24. SMA at 50 days reached $35.85, while 200 days put it at $50.97. A total of 0.77 million shares were traded, compared to the trading of 2.64 million shares in the previous session.

Levels Of Support And Resistance For SPT Stock

The 24-hour chart illustrates a support level at 36.12, which if violated will result in even more drops to 34.97. On the upside, there is a resistance level at 37.88. A further resistance level may holdings at 38.48. The Relative Strength Index (RSI) on the 14-day chart is 63.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.67, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.13%. Stochastics%K at 71.58% indicates the stock is a holding.

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