Smartsheet Inc (NYSE:SMAR) insider Eugene Farrell sold 6,332 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $42.76, for a total value of $270,756.32. Following the completion of the sale, the insider now owns 65,464 shares of the company’s stock, valued at approximately $2,799,240.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Eugene Farrell also recently made the following trade(s):
- On Thursday, February 20th, Eugene Farrell sold 2,641 shares of Smartsheet stock. The shares were sold at an average price of $50.20, for a total value of $132,578.20.
- On Friday, January 10th, Eugene Farrell sold 12,000 shares of Smartsheet stock. The shares were sold at an average price of $45.37, for a total value of $544,440.00.
Shares of SMAR opened at $46.33 on Friday. The company has a market capitalization of $5.11 billion, a P/E ratio of -54.51 and a beta of 1.76. Smartsheet Inc has a one year low of $30.91 and a one year high of $55.79. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.14 and a current ratio of 3.14. The stock has a 50-day moving average price of $45.06 and a 200 day moving average price of $43.02.
Smartsheet (NYSE:SMAR) last issued its quarterly earnings results on Tuesday, March 17th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $78.52 million during the quarter, compared to the consensus estimate of $77.70 million. Smartsheet had a negative return on equity of 22.63% and a negative net margin of 35.42%. Smartsheet’s revenue for the quarter was up 50.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.07) earnings per share. As a group, equities research analysts forecast that Smartsheet Inc will post -1.16 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Institute for Wealth Management LLC. purchased a new position in Smartsheet in the fourth quarter valued at about $39,000. Covington Capital Management bought a new position in Smartsheet during the 4th quarter worth approximately $25,000. Advisor Group Inc. lifted its holdings in Smartsheet by 42.6% during the 4th quarter. Advisor Group Inc. now owns 830 shares of the company’s stock worth $37,000 after buying an additional 248 shares during the last quarter. Cutler Group LP lifted its holdings in Smartsheet by 56.6% during the 4th quarter. Cutler Group LP now owns 1,046 shares of the company’s stock worth $46,000 after buying an additional 378 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Smartsheet during the 4th quarter worth approximately $54,000. 83.74% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on SMAR. ValuEngine upgraded Smartsheet from a “hold” rating to a “buy” rating in a research note on Tuesday, March 17th. BMO Capital Markets lowered their target price on Smartsheet from $57.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, March 18th. Canaccord Genuity lowered their target price on Smartsheet from $53.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Royal Bank of Canada lowered their target price on Smartsheet from $53.00 to $48.00 and set an “outperform” rating for the company in a research note on Wednesday, March 18th. Finally, DA Davidson lowered their target price on Smartsheet from $44.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Smartsheet currently has a consensus rating of “Buy” and a consensus price target of $48.93.
Smartsheet Company Profile
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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