Smartsheet Inc (NYSE:SMAR) Director Sells $7,668,000.00 in Stock

Smartsheet Inc (NYSE:SMAR) Director Geoffrey T. Barker sold 200,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $38.34, for a total value of $7,668,000.00.

NYSE SMAR opened at $41.02 on Friday. The stock has a 50-day simple moving average of $42.04 and a 200 day simple moving average of $44.67. The company has a market capitalization of $4.78 billion, a PE ratio of -66.16 and a beta of 1.94. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 0.08. Smartsheet Inc has a 12 month low of $20.34 and a 12 month high of $55.79.

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

A number of equities research analysts have recently weighed in on SMAR shares. Stephens restated a “buy” rating and set a $55.00 target price on shares of Smartsheet in a research report on Tuesday, September 10th. Zacks Investment Research downgraded Smartsheet from a “buy” rating to a “hold” rating in a research report on Thursday. Oppenheimer dropped their target price on Smartsheet from $58.00 to $53.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. DA Davidson dropped their target price on Smartsheet to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, Berenberg Bank started coverage on Smartsheet in a research report on Thursday. They set a “buy” rating and a $48.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $51.62.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMAR. Vanguard Group Inc. increased its holdings in Smartsheet by 220.0% in the second quarter. Vanguard Group Inc. now owns 6,756,252 shares of the company’s stock valued at $327,002,000 after purchasing an additional 4,644,716 shares during the last quarter. BlackRock Inc. increased its holdings in Smartsheet by 285.3% in the second quarter. BlackRock Inc. now owns 4,536,828 shares of the company’s stock valued at $219,582,000 after purchasing an additional 3,359,344 shares during the last quarter. Whale Rock Capital Management LLC increased its holdings in Smartsheet by 87.3% in the second quarter. Whale Rock Capital Management LLC now owns 5,030,271 shares of the company’s stock valued at $243,465,000 after purchasing an additional 2,344,769 shares during the last quarter. Abdiel Capital Advisors LP bought a new stake in Smartsheet in the second quarter valued at about $108,740,000. Finally, Coatue Management LLC bought a new stake in Smartsheet in the second quarter valued at about $99,384,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Smartsheet Company Profile

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

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