Smartsheet (NYSE:SMAR) Reaches New 52-Week High at $53.11

Smartsheet Inc (NYSE:SMAR) shares reached a new 52-week high on Tuesday . The company traded as high as $53.11 and last traded at $52.51, with a volume of 1926 shares. The stock had previously closed at $52.18.

A number of equities research analysts have weighed in on the stock. Oppenheimer lifted their price target on shares of Recro Pharma from $9.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Morgan Stanley upgraded shares of Nevro from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $41.00 to $70.00 in a research note on Wednesday, March 20th. Needham & Company LLC set a $52.00 price target on shares of Uber Technologies and gave the stock a “buy” rating in a research note on Thursday. DA Davidson assumed coverage on shares of Arcosa in a research note on Thursday, March 21st. They set a “buy” rating and a $29.74 price target on the stock. Finally, Royal Bank of Canada set a GBX 1,750 ($22.87) price target on shares of Prudential and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $52.36.

The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.29. The company’s 50 day simple moving average is $46.64. The stock has a market cap of $5.49 billion, a P/E ratio of -85.47 and a beta of 2.02.

Smartsheet (NYSE:SMAR) last issued its earnings results on Wednesday, June 5th. The company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.15. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 34.42%. The company had revenue of $56.19 million for the quarter, compared to the consensus estimate of $54.65 million. During the same quarter in the previous year, the company earned ($0.12) EPS. The firm’s revenue for the quarter was up 54.7% compared to the same quarter last year. On average, equities analysts forecast that Smartsheet Inc will post -0.97 EPS for the current fiscal year.

In related news, CRO Michael Arntz sold 4,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $40.40, for a total transaction of $161,600.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Geoffrey T. Barker sold 16,700 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $40.50, for a total transaction of $676,350.00. The disclosure for this sale can be found here. Insiders sold a total of 10,958,389 shares of company stock worth $477,654,521 in the last 90 days. 24.73% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SMAR. Oregon Public Employees Retirement Fund acquired a new position in shares of Smartsheet during the fourth quarter worth $36,000. PNC Financial Services Group Inc. acquired a new position in shares of Smartsheet during the fourth quarter worth $153,000. BlackRock Inc. increased its position in shares of Smartsheet by 8.0% during the fourth quarter. BlackRock Inc. now owns 811,452 shares of the company’s stock worth $20,173,000 after purchasing an additional 60,037 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Smartsheet by 28.0% during the fourth quarter. Bank of New York Mellon Corp now owns 11,276 shares of the company’s stock worth $280,000 after purchasing an additional 2,465 shares in the last quarter. Finally, Raymond James & Associates acquired a new position in shares of Smartsheet in the 4th quarter valued at $553,000. Institutional investors and hedge funds own 56.63% of the company’s stock.

Smartsheet Company Profile (NYSE:SMAR)

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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