Pete Godbole Sells 5,202 Shares of Smartsheet Inc (NYSE:SMAR) Stock

Smartsheet Inc (NYSE:SMAR - Get Free Report) CFO Pete Godbole sold 5,202 shares of the firm's stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $41.92, for a total transaction of $218,067.84. Following the transaction, the chief financial officer now directly owns 44,346 shares in the company, valued at approximately $1,858,984.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Pete Godbole also recently made the following trade(s):

• On Thursday, April 11th, Pete Godbole sold 10,129 shares of Smartsheet stock. The stock was sold at an average price of $38.67, for a total transaction of $391,688.43.

Smartsheet Stock Up 0.2 %

Smartsheet stock traded up $0.09 during trading hours on Friday, hitting $42.03. The stock had a trading volume of 1,084,789 shares, compared to its average volume of 1,498,620. The company has a 50-day moving average of $38.90 and a two-hundred day moving average of $42.37. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $52.81. The company has a market cap of $5.78 billion, a PE ratio of -53.32 and a beta of 0.73.

Smartsheet (NYSE:SMAR - Get Free Report) last issued its 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. The firm had revenue of $256.95 million during the quarter, compared to analysts' expectations of $254.99 million. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. As a group, analysts forecast that Smartsheet Inc will post -0.43 EPS for the current fiscal year.

Institutional Trading of Smartsheet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMAR. Vanguard Group Inc. boosted its holdings in Smartsheet by 1.7% during the first quarter. Vanguard Group Inc. now owns 13,809,208 shares of the company's stock valued at $531,655,000 after purchasing an additional 225,390 shares in the last quarter. Eminence Capital LP grew its position in 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 acquiring an additional 1,226,189 shares during the period. Dorsal Capital Management LP grew its position in Smartsheet by 4.0% in the fourth quarter. Dorsal Capital Management LP now owns 3,225,000 shares of the company's stock valued at $154,220,000 after acquiring an additional 125,000 shares during the period. Westfield Capital Management Co. LP raised its stake in Smartsheet by 9.0% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,706,943 shares of the company's stock worth $129,446,000 after acquiring an additional 224,513 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of Smartsheet by 8.9% during the third quarter. TimesSquare Capital Management LLC now owns 2,100,142 shares of the company's stock valued at $84,972,000 after acquiring an additional 172,009 shares during the period. Institutional investors own 90.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SMAR. Bank of America initiated 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. KeyCorp started coverage on Smartsheet in a research note on Thursday, March 21st. They issued a "sector weight" rating on the stock. Morgan Stanley decreased their target price on Smartsheet from $56.00 to $51.00 and set an "overweight" rating for the company in a research report on Friday, March 15th. Jefferies Financial Group dropped their price target on shares of Smartsheet from $57.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, March 15th. Finally, DA Davidson decreased their price objective on shares of Smartsheet from $65.00 to $55.00 and set a "buy" rating for the company in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.75.

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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