Smartsheet Inc (NYSE:SMAR) COO Stephen Robert Branstetter Sells 4,272 Shares of Stock

Smartsheet Inc (NYSE:SMAR) COO Stephen Robert Branstetter sold 4,272 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $44.42, for a total transaction of $189,762.24. Following the transaction, the chief operating officer now owns 63,795 shares in the company, valued at $2,833,773.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Stephen Robert Branstetter also recently made the following trade(s):

• On Tuesday, June 11th, Stephen Robert Branstetter sold 4,174 shares of Smartsheet stock. The shares were sold at an average price of $43.91, for a total transaction of $183,280.34.

Smartsheet Price Performance

NYSE:SMAR opened at $44.11 on Wednesday. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $49.42. The business has a fifty day moving average of $40.69 and a 200-day moving average of $42.23.

Smartsheet (NYSE:SMAR) last released its earnings results on Wednesday, June 5th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. The firm had revenue of $262.98 million for the quarter, compared to analysts’ expectations of $258.06 million. Analysts forecast that Smartsheet Inc will post -0.24 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on SMAR. Barclays upped their price objective on Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, June 6th. Morgan Stanley raised their price objective on Smartsheet from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, June 6th. Oppenheimer lowered their target price on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. JPMorgan Chase & Co. reduced their price target on shares of Smartsheet from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Finally, Canaccord Genuity Group boosted their price objective on shares of Smartsheet from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Smartsheet presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Institutional Investors Weigh In On Smartsheet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Smartsheet during the 4th quarter valued at $33,000. Allworth Financial LP grew its holdings in Smartsheet by 2,503.4% during the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after acquiring an additional 726 shares during the period. Banque Cantonale Vaudoise bought a new stake in Smartsheet in the first quarter worth about $29,000. Plato Investment Management Ltd acquired a new stake in Smartsheet in the 1st quarter valued at about $35,000. Finally, Advisors Asset Management Inc. lifted its holdings in Smartsheet by 24.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,822 shares of the company’s stock valued at $70,000 after acquiring an additional 360 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Smartsheet Company Profile

Smartsheet, Inc engages in managing and automating collaborative work. Its platform provides solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. The company was founded by W. Eric Browne, Maria Colacurcio, John D.