Insider Selling: Smartsheet Inc (SMAR) Insider Sells $401,800.00 in Stock

Smartsheet Inc (NYSE:SMAR) insider Kara Hamilton sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $40.18, for a total value of $401,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kara Hamilton also recently made the following trade(s):

  • On Monday, March 25th, Kara Hamilton sold 7,500 shares of Smartsheet stock. The shares were sold at an average price of $41.25, for a total value of $309,375.00.
  • On Monday, February 25th, Kara Hamilton sold 7,500 shares of Smartsheet stock. The stock was sold at an average price of $37.26, for a total value of $279,450.00.
  • On Wednesday, January 23rd, Kara Hamilton sold 7,500 shares of Smartsheet stock. The stock was sold at an average price of $27.87, for a total value of $209,025.00.
  • On Wednesday, January 9th, Kara Hamilton sold 2,500 shares of Smartsheet stock. The stock was sold at an average price of $26.00, for a total value of $65,000.00.

Shares of Smartsheet stock opened at $38.03 on Friday. Smartsheet Inc has a twelve month low of $18.06 and a twelve month high of $49.04. The firm has a market capitalization of $4.00 billion and a P/E ratio of -61.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.09 and a current ratio of 1.81.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings results on Tuesday, March 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.12. The firm had revenue of $52.20 million during the quarter, compared to the consensus estimate of $49.72 million. Smartsheet had a negative return on equity of 49.01% and a negative net margin of 30.32%. The business’s revenue for the quarter was up 58.2% on a year-over-year basis. As a group, equities research analysts predict that Smartsheet Inc will post -1 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC increased its holdings in Smartsheet by 320.6% in the 4th quarter. Whale Rock Capital Management LLC now owns 2,687,999 shares of the company’s stock valued at $66,824,000 after purchasing an additional 2,048,846 shares in the last quarter. CI Investments Inc. acquired a new position in shares of Smartsheet during the fourth quarter worth about $40,607,000. Capital International Investors acquired a new position in shares of Smartsheet during the third quarter worth about $32,354,000. BlackRock Inc. lifted its stake in shares of Smartsheet by 8.0% during the fourth quarter. BlackRock Inc. now owns 811,452 shares of the company’s stock worth $20,173,000 after purchasing an additional 60,037 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Smartsheet by 1,011.4% in the third quarter. Morgan Stanley now owns 592,133 shares of the company’s stock worth $18,510,000 after buying an additional 538,853 shares during the period. 49.77% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have commented on SMAR. Zacks Investment Research upgraded Smartsheet from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Friday, March 22nd. Jefferies Financial Group increased their price objective on shares of Smartsheet from $38.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Canaccord Genuity reissued a “buy” rating and issued a $53.00 target price (up from $35.00) on shares of Smartsheet in a research report on Wednesday, March 20th. DA Davidson began coverage on shares of Smartsheet in a report on Thursday, March 21st. They issued a “neutral” rating and a $45.00 target price for the company. Finally, Oppenheimer began coverage on shares of Smartsheet in a report on Thursday. They issued an “outperform” rating and a $50.00 target price for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.50.

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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.

Further Reading: Quiet Period Expirations Explained

Insider Buying and Selling by Quarter for Smartsheet (NYSE:SMAR)

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