Smartsheet Inc (NYSE:SMAR) CRO Sells $761,200.00 in Stock

Smartsheet Inc (NYSE:SMAR) CRO Michael Arntz sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $38.06, for a total value of $761,200.00.

Michael Arntz also recently made the following trade(s):

  • On Monday, September 16th, Michael Arntz sold 15,000 shares of Smartsheet stock. The shares were sold at an average price of $41.59, for a total value of $623,850.00.
  • On Monday, August 26th, Michael Arntz sold 93,172 shares of Smartsheet stock. The shares were sold at an average price of $50.04, for a total value of $4,662,326.88.
  • On Wednesday, August 14th, Michael Arntz sold 4,000 shares of Smartsheet stock. The shares were sold at an average price of $45.26, for a total value of $181,040.00.
  • On Monday, July 15th, Michael Arntz sold 14,000 shares of Smartsheet stock. The shares were sold at an average price of $54.14, for a total value of $757,960.00.

SMAR opened at $41.02 on Friday. The business has a fifty day moving average of $42.04 and a 200 day moving average of $44.67. Smartsheet Inc has a 52-week low of $20.34 and a 52-week high of $55.79. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 0.08. The stock has a market cap of $4.78 billion, a P/E ratio of -66.16 and a beta of 1.94.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.09. Smartsheet had a negative return on equity of 24.74% and a negative net margin of 30.10%. The company had revenue of $64.64 million during the quarter, compared to analysts’ expectations of $63.55 million. During the same quarter in the previous year, the business earned ($0.08) EPS. Smartsheet’s revenue was up 52.5% compared to the same quarter last year. Equities analysts anticipate that Smartsheet Inc will post -0.92 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its holdings in Smartsheet by 240.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock valued at $27,000 after acquiring an additional 466 shares during the period. Meadow Creek Investment Management LLC boosted its holdings in Smartsheet by 76.9% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 1,840 shares of the company’s stock valued at $89,000 after acquiring an additional 800 shares during the period. Evolution Wealth Advisors LLC purchased a new position in Smartsheet during the 2nd quarter valued at $93,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Smartsheet during the 2nd quarter valued at $111,000. Finally, Systematic Financial Management LP purchased a new position in Smartsheet during the 2nd quarter valued at $118,000. Institutional investors own 73.34% of the company’s stock.

Several equities analysts have recently weighed in on SMAR shares. Berenberg Bank started coverage on Smartsheet in a research report on Thursday. They set a “buy” rating and a $48.00 target price on the stock. Zacks Investment Research downgraded Smartsheet from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group reissued a “buy” rating and set a $52.00 target price on shares of Smartsheet in a research report on Tuesday. Stephens reissued a “buy” rating and set a $55.00 target price on shares of Smartsheet in a research report on Tuesday, September 10th. Finally, Oppenheimer cut their target price on Smartsheet from $58.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $51.62.

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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