Smartsheet Inc (NYSE:SMAR - Get Free Report) COO Stephen Robert Branstetter sold 4,174 shares of the company's stock in a transaction on Tuesday, June 11th. The shares were 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 owns 68,067 shares of the company's stock, valued at $2,988,821.97. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
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 shares were sold at an average price of $38.22, for a total transaction of $219,268.14.
Smartsheet Stock Down 0.1 %
Shares of SMAR stock opened at $41.90 on Friday. The stock's 50-day moving average is $39.48 and its two-hundred day moving average is $42.40. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $49.42.
Smartsheet (NYSE:SMAR - Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.22) by $0.17. The firm had revenue of $256.95 million for the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. Research analysts forecast that Smartsheet Inc will post -0.24 earnings per share for the current year.
Institutional Investors Weigh In On Smartsheet
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A number of institutional investors and hedge funds have recently made changes to their positions in SMAR. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Smartsheet during the fourth quarter worth $33,000. Allworth Financial LP boosted its holdings in shares of Smartsheet by 2,503.4% in the fourth quarter. Allworth Financial LP now owns 755 shares of the company's stock valued at $36,000 after acquiring an additional 726 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Smartsheet during the first quarter worth about $29,000. Plato Investment Management Ltd purchased a new position in Smartsheet during the first quarter worth about $35,000. Finally, Advisors Asset Management Inc. lifted its position in Smartsheet by 24.6% in the first quarter. Advisors Asset Management Inc. now owns 1,822 shares of the company's stock valued at $70,000 after purchasing an additional 360 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Barclays lifted their target price on shares of Smartsheet from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 6th. Oppenheimer decreased their price objective on Smartsheet from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Friday, March 15th. KeyCorp initiated coverage on Smartsheet in a research note on Thursday, March 21st. They set a "sector weight" rating for the company. Bank of America started coverage on Smartsheet in a research report on Monday, February 26th. They issued an "underperform" rating and a $45.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Smartsheet from $54.00 to $50.00 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.75.
Check Out Our Latest Stock Analysis on SMAR
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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