Smartsheet Inc (NYSE:SMAR - Get Free Report) CFO Pete Godbole sold 10,129 shares of the company's stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the sale, the chief financial officer now owns 44,346 shares of the company's stock, valued at $1,714,859.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Smartsheet Stock Performance
SMAR opened at $36.70 on Tuesday. The business's 50-day simple moving average is $41.13 and its 200-day simple moving average is $42.79. Smartsheet Inc has a one year low of $35.52 and a one year high of $52.81. The stock has a market capitalization of $5.04 billion, a P/E ratio of -46.46 and a beta of 0.73.
Smartsheet (NYSE:SMAR - Get Free Report) last posted its earnings results on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.17. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. The business had revenue of $256.95 million for the quarter, compared to analysts' expectations of $254.99 million. On average, equities research analysts forecast that Smartsheet Inc will post -0.43 EPS for the current fiscal year.
Wall Street Analyst Weigh In
4 Cryptos BETTER than Bitcoin
From True Market Insiders | Ad
Former Wall Street Insider and Professional Money Manager Reveals 4 Cryptos BETTER Than Bitcoin
Click For My #1 FREE Crypto for 2024
SMAR has been the subject of a number of analyst reports. BMO Capital Markets dropped their price target on Smartsheet from $48.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, March 18th. Barclays lowered their price objective on Smartsheet from $50.00 to $40.00 and set an "equal weight" rating for the company in a research report on Friday, March 15th. Wells Fargo & Company lowered their price objective on Smartsheet from $55.00 to $47.00 and set an "overweight" rating for the company in a research report on Friday, March 15th. Oppenheimer lowered their price target on Smartsheet from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, March 15th. Finally, Morgan Stanley lowered their price target on Smartsheet from $56.00 to $51.00 and set an "overweight" rating for the company in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.75.
Read Our Latest Research Report on SMAR
Institutional Trading of Smartsheet
Hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Smartsheet during the first quarter worth about $29,000. McGlone Suttner Wealth Management Inc. acquired a new position in Smartsheet in the 4th quarter valued at about $33,000. Allworth Financial LP increased its position in Smartsheet by 2,503.4% in the 4th quarter. Allworth Financial LP now owns 755 shares of the company's stock valued at $36,000 after acquiring an additional 726 shares during the period. Castleview Partners LLC acquired a new position in Smartsheet in the 3rd quarter valued at about $39,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Smartsheet in the 3rd quarter valued at about $105,000. Institutional investors and hedge funds own 90.01% of the company's stock.
About Smartsheet
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
