Smartsheet Inc (NYSE:SMAR - Get Free Report) COO Stephen Robert Branstetter sold 4,174 shares of the business's stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $43.91, for a total value of $183,280.34. Following the completion of the sale, the chief operating officer now directly owns 68,067 shares in the company, valued at $2,988,821.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
- Why Smartsheet Stock is an Undervalued Gem of an Investment
Stephen Robert Branstetter also recently made the following trade(s):
- On Wednesday, March 27th, Stephen Robert Branstetter sold 5,737 shares of Smartsheet stock. The stock was sold at an average price of $38.22, for a total transaction of $219,268.14.
Smartsheet Trading Down 3.5 %
NYSE SMAR traded down $1.50 during trading hours on Thursday, hitting $41.92. 1,278,879 shares of the company's stock traded hands, compared to its average volume of 1,561,971. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $49.42. The firm has a market capitalization of $5.76 billion, a P/E ratio of -70.03 and a beta of 0.74. The business's fifty day moving average price is $39.41 and its two-hundred day moving average price is $42.40.
- 2 Earnings Dumpers Worth a Second Look
Smartsheet (NYSE:SMAR - Get Free Report) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.17. The firm had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. On average, sell-side analysts expect that Smartsheet Inc will post -0.24 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages have issued reports on SMAR. UBS Group lifted their target price on shares of Smartsheet from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Thursday, June 6th. Bank of America started coverage on shares of Smartsheet in a report on Monday, February 26th. They issued an "underperform" rating and a $45.00 price objective for the company. Royal Bank of Canada increased their target price on Smartsheet from $36.00 to $43.00 and gave the company a "sector perform" rating in a research note on Thursday, June 6th. Needham & Company LLC reissued a "buy" rating and issued a $57.00 target price on shares of Smartsheet in a report on Thursday, June 6th. Finally, Jefferies Financial Group lowered their price target on Smartsheet from $57.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $51.75.
- Asana sold the rip. Is it time to buy the dip?
Check Out Our Latest Report on SMAR
Institutional Trading of Smartsheet
Several hedge funds have recently bought and sold shares of the stock. Treasurer of the State of North Carolina raised its stake in shares of Smartsheet by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 55,099 shares of the company's stock worth $2,229,000 after buying an additional 280 shares during the period. Cornercap Investment Counsel Inc. increased its holdings in Smartsheet by 1.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 22,860 shares of the company's stock worth $1,093,000 after acquiring an additional 285 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Smartsheet by 24.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,822 shares of the company's stock worth $70,000 after acquiring an additional 360 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Smartsheet by 3.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,014 shares of the company's stock worth $670,000 after purchasing an additional 402 shares during the period. Finally, Avior Wealth Management LLC increased its stake in shares of Smartsheet by 5.9% in the fourth quarter. Avior Wealth Management LLC now owns 7,928 shares of the company's stock worth $379,000 after purchasing an additional 441 shares in the last quarter. Institutional investors 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.
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