Insider Selling: Smartsheet Inc (SMAR) Director Sells $2,250,000.00 in Stock

Smartsheet Inc (NYSE:SMAR) Director Brent Frei sold 50,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $45.00, for a total value of $2,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Brent Frei also recently made the following trade(s):

  • On Tuesday, March 12th, Brent Frei sold 50,000 shares of Smartsheet stock. The shares were sold at an average price of $40.03, for a total value of $2,001,500.00.
  • On Monday, February 4th, Brent Frei sold 300,000 shares of Smartsheet stock. The shares were sold at an average price of $31.42, for a total value of $9,426,000.00.
  • On Wednesday, January 30th, Brent Frei sold 56,533 shares of Smartsheet stock. The shares were sold at an average price of $29.96, for a total value of $1,693,728.68.
  • On Thursday, January 17th, Brent Frei sold 50,000 shares of Smartsheet stock. The shares were sold at an average price of $27.03, for a total value of $1,351,500.00.
  • On Wednesday, January 2nd, Brent Frei sold 50,000 shares of Smartsheet stock. The shares were sold at an average price of $25.03, for a total value of $1,251,500.00.

Shares of SMAR opened at $45.69 on Thursday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. Smartsheet Inc has a 1 year low of $18.06 and a 1 year high of $49.04.

Smartsheet (NYSE:SMAR) last issued its earnings results on Tuesday, March 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.12. Smartsheet had a negative return on equity of 111.93% and a negative net margin of 32.12%. The firm had revenue of $52.20 million for the quarter, compared to analysts’ expectations of $49.72 million. The company’s revenue for the quarter was up 58.2% on a year-over-year basis. Sell-side analysts expect that Smartsheet Inc will post -0.6 earnings per share for the current year.

SMAR has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on Smartsheet from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 30th. Morgan Stanley raised their price target on Smartsheet from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, December 4th. Zacks Investment Research upgraded Smartsheet from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Saturday, December 8th. Stephens began coverage on Smartsheet in a report on Thursday, January 3rd. They set an “overweight” rating and a $32.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on Smartsheet from $33.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Smartsheet presently has an average rating of “Buy” and an average price target of $47.25.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of Smartsheet by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 104,097 shares of the company’s stock worth $2,587,000 after purchasing an additional 1,523 shares during the period. Norges Bank acquired a new stake in shares of Smartsheet during the fourth quarter worth about $3,729,000. CI Investments Inc. acquired a new stake in shares of Smartsheet during the fourth quarter worth about $40,607,000. Legal & General Group Plc acquired a new stake in shares of Smartsheet during the fourth quarter worth about $961,000. Finally, Whale Rock Capital Management LLC raised its position in shares of Smartsheet by 320.6% during the fourth quarter. Whale Rock Capital Management LLC now owns 2,687,999 shares of the company’s stock worth $66,824,000 after purchasing an additional 2,048,846 shares during the period. Hedge funds and other institutional investors own 49.63% of the company’s stock.

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About Smartsheet

Smartsheet Inc provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts.

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Insider Buying and Selling by Quarter for Smartsheet (NYSE:SMAR)

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