Insider Selling: Smartsheet Inc (NYSE:SMAR) Insider Sells 10,000 Shares of Stock

Smartsheet Inc (NYSE:SMAR) insider Eugene Farrell sold 10,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $40.28, for a total value of $402,800.00.

Eugene Farrell also recently made the following trade(s):

  • On Monday, August 26th, Eugene Farrell sold 30,000 shares of Smartsheet stock. The stock was sold at an average price of $51.02, for a total value of $1,530,600.00.
  • On Wednesday, July 10th, Eugene Farrell sold 10,944 shares of Smartsheet stock. The stock was sold at an average price of $53.08, for a total value of $580,907.52.

Shares of SMAR traded down $0.63 during trading hours on Thursday, hitting $40.91. 49,753 shares of the company were exchanged, compared to its average volume of 2,375,089. The company has a market cap of $4.41 billion, a PE ratio of -65.81 and a beta of 2.04. The firm’s 50 day moving average is $46.92 and its 200-day moving average is $44.95. Smartsheet Inc has a 52 week low of $20.34 and a 52 week high of $55.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.50 and a current ratio of 3.50.

Smartsheet (NYSE:SMAR) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.09. The company 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) EPS. As a group, equities analysts forecast that Smartsheet Inc will post -0.92 earnings per share for the current fiscal year.

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Smartsheet from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Zacks Investment Research raised Smartsheet from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Wednesday, September 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price (up from $45.00) on shares of Smartsheet in a research report on Thursday, July 11th. Wedbush reaffirmed an “outperform” rating and issued a $62.00 target price on shares of Smartsheet in a research report on Friday, August 30th. Finally, Stephens reaffirmed a “buy” rating and issued a $55.00 target price on shares of Smartsheet in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Smartsheet has a consensus rating of “Buy” and a consensus target price of $53.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in shares of Smartsheet by 0.4% during the 1st quarter. First Trust Advisors LP now owns 86,589 shares of the company’s stock worth $3,532,000 after acquiring an additional 318 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Smartsheet by 240.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock worth $27,000 after acquiring an additional 466 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Smartsheet by 11.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 6,716 shares of the company’s stock worth $325,000 after acquiring an additional 710 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of Smartsheet by 76.9% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 1,840 shares of the company’s stock worth $89,000 after acquiring an additional 800 shares in the last quarter. Finally, Neuburgh Advisers LLC boosted its stake in shares of Smartsheet by 76.9% during the 2nd quarter. Neuburgh Advisers LLC now owns 2,530 shares of the company’s stock worth $122,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors own 80.23% of the company’s stock.

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

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