Zacks Investment Research downgraded shares of Sprout Social (NYSE:SPT) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Sprout Social Inc. offers social media listening and analytics, social management, customer care and advocacy solutions to brands and agencies. It operates social media networks, including Twitter, Facebook, Pinterest, Instagram and LinkedIn. Sprout Social Inc. is headquartered in Chicago. “

A number of other analysts also recently weighed in on the company. BTIG Research initiated coverage on Sprout Social in a research report on Monday, June 8th. They issued a buy rating and a $40.00 target price for the company. Goldman Sachs Group boosted their target price on Sprout Social from $27.00 to $35.00 in a research report on Monday. Morgan Stanley boosted their target price on Sprout Social from $21.00 to $23.00 and gave the stock an overweight rating in a research report on Thursday, May 7th. KeyCorp boosted their target price on Sprout Social from $27.00 to $33.00 and gave the stock an overweight rating in a research report on Thursday, June 4th. Finally, Canaccord Genuity reiterated a buy rating and issued a $24.00 price objective on shares of Sprout Social in a research report on Thursday, May 7th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $29.00.

Shares of NYSE SPT traded up $0.02 during midday trading on Tuesday, hitting $27.68. 390,623 shares of the company’s stock were exchanged, compared to its average volume of 413,175. Sprout Social has a 12-month low of $10.54 and a 12-month high of $33.52. The firm has a fifty day moving average price of $27.16.

Sprout Social (NYSE:SPT) last released its earnings results on Wednesday, May 6th. The company reported ($0.21) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.21). The firm had revenue of $30.54 million during the quarter, compared to the consensus estimate of $29.21 million.

In related news, CTO Aaron Edward Frederick Rankin sold 37,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $28.36, for a total transaction of $1,049,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Preto Joseph Del sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $27.02, for a total value of $1,621,200.00. The disclosure for this sale can be found here.

Several institutional investors have recently made changes to their positions in the stock. State Street Corp bought a new position in shares of Sprout Social during the first quarter valued at approximately $2,194,000. Clearbridge Investments LLC boosted its position in shares of Sprout Social by 55.7% during the first quarter. Clearbridge Investments LLC now owns 850,836 shares of the company’s stock valued at $13,579,000 after buying an additional 304,370 shares during the last quarter. Kingstown Capital Management L.P. purchased a new stake in shares of Sprout Social during the first quarter valued at $5,586,000. Morgan Stanley boosted its position in shares of Sprout Social by 2,774.5% during the first quarter. Morgan Stanley now owns 82,038 shares of the company’s stock valued at $1,310,000 after buying an additional 79,184 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Sprout Social by 50.6% during the first quarter. Wells Fargo & Company MN now owns 400,097 shares of the company’s stock valued at $6,386,000 after buying an additional 134,497 shares during the last quarter.

Sprout Social Company Profile

Sprout Social, Inc designs and develops a platform for social media management. The company offers cloud software that brings together social messaging, data, and workflows in a unified system of record, intelligence, and action. It provides various integrated tools in a range of functions comprising social engagement/response, publishing, reporting and analytics, social listening and business intelligence, reputation management, employee advocacy, and automation and workflows.

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