Geoffrey T. Barker Sells 6,750 Shares of Smartsheet Inc (NYSE:SMAR) Stock

Smartsheet Inc (NYSE:SMAR) Director Geoffrey T. Barker sold 6,750 shares of the firm’s stock in a transaction dated Wednesday, April 14th. The shares were sold at an average price of $64.77, for a total value of $437,197.50. Following the sale, the director now owns 365,260 shares of the company’s stock, valued at $23,657,890.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Smartsheet stock traded down $0.04 during mid-day trading on Friday, hitting $65.20. The company’s stock had a trading volume of 700,382 shares, compared to its average volume of 1,129,494. The stock has a market capitalization of $8.09 billion, a P/E ratio of -68.25 and a beta of 1.52. Smartsheet Inc has a twelve month low of $40.21 and a twelve month high of $85.43. The stock’s fifty day moving average price is $65.35 and its two-hundred day moving average price is $64.32.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings results on Monday, March 15th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.09. The firm had revenue of $109.87 million for the quarter, compared to analyst estimates of $102.69 million. Smartsheet had a negative net margin of 32.32% and a negative return on equity of 21.98%. The firm’s quarterly revenue was up 39.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.13) earnings per share. As a group, analysts anticipate that Smartsheet Inc will post -1.06 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in Smartsheet by 155.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 76,155 shares of the company’s stock worth $5,278,000 after purchasing an additional 46,287 shares in the last quarter. Norges Bank purchased a new position in Smartsheet during the 4th quarter worth approximately $92,803,000. UBS Asset Management Americas Inc. boosted its stake in shares of Smartsheet by 23.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 164,133 shares of the company’s stock valued at $11,373,000 after buying an additional 31,539 shares during the period. Garde Capital Inc. acquired a new stake in shares of Smartsheet during the 4th quarter valued at $30,027,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Smartsheet in the 4th quarter valued at $283,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

SMAR has been the subject of several recent analyst reports. Oppenheimer raised their target price on Smartsheet from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, January 4th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Smartsheet from $65.00 to $76.00 in a research note on Thursday, March 18th. KeyCorp lifted their price target on Smartsheet from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 23rd. BMO Capital Markets decreased their price target on Smartsheet from $86.00 to $83.00 and set an “outperform” rating for the company in a research note on Tuesday, March 23rd. Finally, Citigroup lifted their price target on Smartsheet from $65.00 to $76.00 in a research note on Wednesday, March 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Smartsheet has a consensus rating of “Buy” and a consensus price target of $73.31.

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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