Smartsheet Inc (NYSE:SMAR) CFO Sells $391,688.43 in Stock

Smartsheet Inc (NYSE:SMAR - Get Free Report) CFO Pete Godbole sold 10,129 shares of Smartsheet stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $38.67, for a total transaction of $391,688.43. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at approximately $1,714,859.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Smartsheet Price Performance

SMAR stock traded down $0.97 on Monday, hitting $36.70. 1,321,655 shares of the company were exchanged, compared to its average volume of 1,565,748. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $52.81. The business's fifty day moving average is $41.29 and its two-hundred day moving average is $42.81. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of -47.68 and a beta of 0.73.

Smartsheet (NYSE:SMAR - Get Free Report) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.17. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. The firm had revenue of $256.95 million during the quarter, compared to analyst estimates of $254.99 million. Equities research analysts expect that Smartsheet Inc will post -0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SMAR. Needham & Company LLC reissued a "buy" rating and set a $57.00 price objective on shares of Smartsheet in a report on Friday, March 15th. UBS Group decreased their price objective on shares of Smartsheet from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Friday, March 15th. Wells Fargo & Company cut their target price on shares of Smartsheet from $55.00 to $47.00 and set an "overweight" rating for the company in a research report on Friday, March 15th. JPMorgan Chase & Co. cut their target price 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. Finally, Morgan Stanley cut their target price on shares of Smartsheet from $56.00 to $51.00 and set an "overweight" rating for the company in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $49.75.

Institutional Investors Weigh In On Smartsheet

Several institutional investors have recently bought and sold shares of SMAR. Capital World Investors grew its stake in Smartsheet by 11.2% during the first quarter. Capital World Investors now owns 15,316,599 shares of the company's stock worth $839,084,000 after buying an additional 1,542,891 shares during the period. Norges Bank purchased a new position in shares of Smartsheet in the fourth quarter valued at $68,879,000. Goldman Sachs Group Inc. boosted its stake in shares of Smartsheet by 81.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,808,651 shares of the company's stock valued at $88,276,000 after purchasing an additional 1,262,177 shares during the period. RGM Capital LLC purchased a new position in shares of Smartsheet in the third quarter valued at $50,705,000. Finally, Eminence Capital LP boosted its stake in shares of Smartsheet by 58.3% in the third quarter. Eminence Capital LP now owns 3,329,155 shares of the company's stock valued at $134,698,000 after purchasing an additional 1,226,189 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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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