Smartsheet Inc (NYSE:SMAR) CRO Michael Arntz sold 3,055 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $49.00, for a total transaction of $149,695.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Michael Arntz also recently made the following trade(s):
- On Thursday, March 14th, Michael Arntz sold 14,000 shares of Smartsheet stock. The stock was sold at an average price of $44.21, for a total transaction of $618,940.00.
- On Thursday, February 14th, Michael Arntz sold 4,000 shares of Smartsheet stock. The stock was sold at an average price of $36.38, for a total transaction of $145,520.00.
- On Tuesday, January 15th, Michael Arntz sold 4,000 shares of Smartsheet stock. The stock was sold at an average price of $26.51, for a total transaction of $106,040.00.
NYSE:SMAR traded down $4.04 on Friday, reaching $41.62. 4,500,706 shares of the stock traded hands, compared to its average volume of 1,052,169. The firm has a market cap of $4.74 billion and a P/E ratio of -67.13. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09. Smartsheet Inc has a 12 month low of $18.06 and a 12 month high of $49.04.
Smartsheet (NYSE:SMAR) last released its quarterly earnings data on Tuesday, March 19th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.12. The business had revenue of $52.20 million during the quarter, compared to analyst estimates of $49.72 million. Smartsheet had a negative net margin of 30.32% and a negative return on equity of 60.68%. The firm’s quarterly revenue was up 58.2% on a year-over-year basis. On average, equities research analysts predict that Smartsheet Inc will post -0.73 EPS for the current year.
Several brokerages recently issued reports on SMAR. Jefferies Financial Group increased their price target on shares of Smartsheet from $38.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday. SunTrust Banks raised their price objective on shares of Smartsheet to $56.00 and gave the company a “positive” rating in a research note on Wednesday. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating and set a $53.00 price objective (up from $35.00) on shares of Smartsheet in a research note on Wednesday. Zacks Investment Research lowered shares of Smartsheet from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Finally, DA Davidson began coverage on shares of Smartsheet in a research note on Thursday. They set a “neutral” rating and a $45.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $49.44.
A number of large investors have recently added to or reduced their stakes in the business. Whale Rock Capital Management LLC increased its stake in Smartsheet by 320.6% during the 4th quarter. Whale Rock Capital Management LLC now owns 2,687,999 shares of the company’s stock valued at $66,824,000 after purchasing an additional 2,048,846 shares in the last quarter. CI Investments Inc. purchased a new stake in shares of Smartsheet during the 4th quarter valued at about $40,607,000. Capital International Investors purchased a new stake in shares of Smartsheet during the 3rd quarter valued at about $32,354,000. BlackRock Inc. boosted its holdings in shares of Smartsheet by 8.0% during the 4th quarter. BlackRock Inc. now owns 811,452 shares of the company’s stock valued at $20,173,000 after acquiring an additional 60,037 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Smartsheet by 1,011.4% during the 3rd quarter. Morgan Stanley now owns 592,133 shares of the company’s stock valued at $18,510,000 after acquiring an additional 538,853 shares during the last quarter. Institutional investors and hedge funds own 49.63% of the company’s stock.
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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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