Smartsheet Inc (NYSE:SMAR) Director Geoffrey T. Barker sold 16,700 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $43.15, for a total transaction of $720,605.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of SMAR stock traded up $1.24 during trading hours on Wednesday, hitting $47.55. 1,645,300 shares of the company were exchanged, compared to its average volume of 1,524,820. The stock has a market cap of $5.13 billion, a P/E ratio of -76.69 and a beta of 2.17. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $43.72. Smartsheet Inc has a 52 week low of $20.34 and a 52 week high of $50.64.
Smartsheet (NYSE:SMAR) last posted its earnings results on Wednesday, June 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.15. The company had revenue of $56.19 million during the quarter, compared to analysts’ expectations of $54.65 million. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 34.42%. Smartsheet’s quarterly revenue was up 54.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.12) EPS. As a group, sell-side analysts forecast that Smartsheet Inc will post -0.97 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in SMAR. Whale Rock Capital Management LLC boosted its position in Smartsheet by 320.6% during the 4th quarter. Whale Rock Capital Management LLC now owns 2,687,999 shares of the company’s stock worth $66,824,000 after buying an additional 2,048,846 shares during the period. CI Investments Inc. acquired a new stake in Smartsheet during the 4th quarter worth approximately $40,607,000. FMR LLC boosted its position in Smartsheet by 754,292.5% during the 1st quarter. FMR LLC now owns 1,214,572 shares of the company’s stock worth $49,542,000 after buying an additional 1,214,411 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Smartsheet during the 1st quarter worth approximately $22,129,000. Finally, Westfield Capital Management Co. LP acquired a new stake in Smartsheet during the 4th quarter worth approximately $12,106,000. 56.63% of the stock is currently owned by institutional investors.
SMAR has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Smartsheet from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Thursday, June 13th. Stephens reissued a “buy” rating and issued a $55.00 target price on shares of Smartsheet in a research note on Tuesday, April 23rd. Needham & Company LLC assumed coverage on shares of Smartsheet in a research note on Thursday, April 11th. They issued a “buy” rating and a $45.00 target price on the stock. Jefferies Financial Group upped their price objective on shares of Smartsheet from $38.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $53.00 price objective (up from $35.00) on shares of Smartsheet in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $51.00.
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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