Smartsheet Inc (NYSE:SMAR – Get Free Report) CEO Mark Patrick Mader sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $51.78, for a total transaction of $1,035,600.00. Following the completion of the transaction, the chief executive officer now directly owns 588,762 shares in the company, valued at $30,486,096.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Smartsheet Stock Performance
Shares of NYSE:SMAR opened at $51.45 on Friday. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $54.50. The firm has a fifty day moving average of $48.61 and a 200 day moving average of $43.15. The firm has a market capitalization of $7.15 billion, a PE ratio of -82.98 and a beta of 0.74.
Smartsheet (NYSE:SMAR – Get Free Report) last posted its earnings results on Thursday, September 5th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. The company had revenue of $276.41 million during the quarter, compared to analyst estimates of $274.23 million. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. Smartsheet’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.23) earnings per share. On average, sell-side analysts forecast that Smartsheet Inc will post -0.05 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. BMO Capital Markets increased their price objective on Smartsheet from $48.00 to $59.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Morgan Stanley boosted their price objective on Smartsheet from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Wells Fargo & Company increased their target price on shares of Smartsheet from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, June 6th. Royal Bank of Canada boosted their price target on shares of Smartsheet from $43.00 to $51.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. Finally, Canaccord Genuity Group raised their price objective on shares of Smartsheet from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.06.
Get Our Latest Research Report on Smartsheet
Institutional Trading of Smartsheet
A number of hedge funds have recently modified their holdings of SMAR. Sei Investments Co. raised its position in shares of Smartsheet by 20.3% in the 1st quarter. Sei Investments Co. now owns 147,306 shares of the company’s stock worth $5,671,000 after purchasing an additional 24,823 shares during the last quarter. Norges Bank purchased a new stake in shares of Smartsheet during the fourth quarter valued at approximately $68,879,000. CWM LLC raised its holdings in Smartsheet by 218.0% in the 2nd quarter. CWM LLC now owns 19,869 shares of the company’s stock worth $876,000 after acquiring an additional 13,621 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Smartsheet in the 1st quarter valued at approximately $1,512,000. Finally, Alberta Investment Management Corp purchased a new stake in Smartsheet during the 4th quarter valued at $1,219,000. Institutional investors own 90.01% of the company’s stock.
About Smartsheet
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.
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