BofA warns Fed risks policy mistake with early rate cuts
Ryan Paul Barretto, the CEO of Sprout Social, Inc. (NASDAQ:SPT), recently sold 17,787 shares of the company’s Class A Common Stock. The shares were sold at an average price of $26.316 each, amounting to a total transaction value of $468,082. Following this sale, Barretto holds 528,556 shares directly, with an additional 153,375 shares held indirectly through trusts. The transaction comes as SPT trades near its 52-week low of $25.05, with the stock down over 54% in the past year. Despite challenging market conditions, the company maintains impressive gross profit margins of 77.5%.
The transaction was conducted under a pre-arranged trading plan established on November 21, 2024, in accordance with Rule 10b5-1. This plan was designed to cover tax obligations arising from the settlement of restricted stock units (RSUs).
Barretto’s remaining shares include a mix of RSUs with various vesting schedules, ensuring continued alignment with the company’s performance.
In other recent news, Sprout Social Inc . has experienced several notable developments that are of interest to investors. The company reported its fourth-quarter revenue, which met consensus estimates but showed a deceleration in year-over-year growth to approximately 14%. This marks a slowdown compared to over 20% in the previous quarter. The fiscal year 2025 revenue guidance suggests an 11% growth, falling short of the expected consensus of 14%. In response to these financial results, several analysts have adjusted their price targets for Sprout Social. Scotiabank (TSX:BNS) reduced its target to $25, while maintaining a Sector Perform rating, and Stifel lowered its target to $34, yet still recommends the stock as a Buy. Cantor Fitzgerald decreased its price target to $38 but maintained an Overweight rating, indicating confidence in the company’s prospects. KeyBanc has kept an Underweight rating with a steady price target of $23, reflecting a cautious outlook. Meanwhile, Goldman Sachs revised its price target to $29, maintaining a Neutral rating due to the challenges Sprout Social faces in shifting its business focus to larger markets. These developments highlight a mixed analyst sentiment, emphasizing both the potential and challenges for Sprout Social moving forward.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.