Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sprout Social Inc shares valued at $42,411 were sold by Del Preto Joseph on Oct 07 ’24. At $28.27 per share, Del Preto Joseph sold 1,500 shares. The insider’s holdings dropped to 158,614 shares worth approximately $4.49 million following the completion of this transaction.
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Also, Howard Justyn Russell sold 20,000 shares, netting a total of over 564,560 in proceeds. Following the sale of shares at $28.23 each, the insider now holds 7,417 shares.
Before that, Barretto Ryan Paul had sold 16,800 shares from its account. In a trade valued at $474,601, the CEO traded Sprout Social Inc shares for $28.25 each. Upon closing the transaction, the insider’s holdings decreased to 16,800 shares, worth approximately $4.82 million.
As published in a research note from KeyBanc Capital Markets on August 22, 2024, Sprout Social Inc [SPT] has been rated down from a Sector weight to an Underweight and the price target has been revised to $28. Analysts at William Blair downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early May. As of May 03, 2024, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for SPT. Earlier on May 03, 2024, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for SPT stock which previously was a “an Overweight”.
Analyzing SPT Stock Performance
During the last five days, there has been a drop of approximately -0.11%. Over the course of the year, Sprout Social Inc shares have dropped approximately -53.94%. Shares of the company reached a 52-week high of $68.41 on 02/12/24 and a 52-week low of $25.05 on 09/11/24. A 50-day SMA is recorded $30.01, while a 200-day SMA reached $44.02. Nevertheless, trading volume fell to 0.59 million shares from 0.31 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 27.66, which, if violated, would cause prices to drop to 27.03. In the upper region, resistance lies at 29.02. The next price resistance is at 29.74. RSI (Relative Strength Index) is 45.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.42, which suggests the price will decrease in the coming days. Percent R is at 70.87%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
