Smartsheet Inc (NYSE:SMAR) Director Elena Gomez sold 5,000 shares of the company's stock in a transaction on Monday, June 21st. The shares were sold at an average price of $69.46, for a total value of $347,300.00. Following the transaction, the director now directly owns 8,051 shares in the company, valued at $559,222.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of SMAR traded up $1.72 during trading hours on Tuesday, hitting $73.01. 1,222,378 shares of the company were exchanged, compared to its average volume of 1,239,745. The company has a market capitalization of $9.13 billion, a P/E ratio of -72.29 and a beta of 1.40. The company's 50 day simple moving average is $60.61. Smartsheet Inc has a 52 week low of $40.21 and a 52 week high of $85.43.
Smartsheet (NYSE:SMAR) last released its quarterly earnings results on Tuesday, June 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.05. Smartsheet had a negative return on equity of 22.90% and a negative net margin of 29.79%. The company had revenue of $117.08 million during the quarter, compared to the consensus estimate of $114.76 million. During the same quarter in the prior year, the company posted ($0.11) EPS. The firm's revenue was up 37.0% on a year-over-year basis. As a group, equities research analysts predict that Smartsheet Inc will post -1.37 earnings per share for the current year.
Several research firms recently weighed in on SMAR. Jefferies Financial Group upped their price target on Smartsheet from $60.00 to $65.00 and gave the company a "hold" rating in a research report on Thursday, June 3rd. JPMorgan Chase & Co. raised Smartsheet from a "neutral" rating to an "overweight" rating and set a $83.00 price target on the stock in a research report on Tuesday, March 23rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Smartsheet from $65.00 to $76.00 in a research report on Thursday, March 18th. BMO Capital Markets dropped their price target on Smartsheet from $86.00 to $83.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 17th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Smartsheet from a "sell" rating to a "hold" rating in a research report on Wednesday, May 19th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Smartsheet has an average rating of "Buy" and an average target price of $75.81.
A number of large investors have recently made changes to their positions in SMAR. FMR LLC boosted its stake in Smartsheet by 754,292.5% during the 1st quarter. FMR LLC now owns 1,214,572 shares of the company's stock valued at $49,542,000 after purchasing an additional 1,214,411 shares during the period. First Trust Advisors LP boosted its stake in Smartsheet by 0.4% during the 1st quarter. First Trust Advisors LP now owns 86,589 shares of the company's stock valued at $3,532,000 after purchasing an additional 318 shares during the period. US Bancorp DE boosted its stake in Smartsheet by 4.7% during the 4th quarter. US Bancorp DE now owns 3,391 shares of the company's stock valued at $235,000 after purchasing an additional 152 shares during the period. SG Americas Securities LLC boosted its stake in Smartsheet by 101.4% during the 4th quarter. SG Americas Securities LLC now owns 15,012 shares of the company's stock valued at $1,040,000 after purchasing an additional 7,559 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Smartsheet by 70.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 327,974 shares of the company's stock valued at $22,725,000 after acquiring an additional 135,799 shares in the last quarter. Hedge funds and other institutional investors own 87.24% of the company's stock.
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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