Smartsheet Inc (NYSE:SMAR) CRO Sells $623,850.00 in Stock

Smartsheet Inc (NYSE:SMAR) CRO Michael Arntz sold 15,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $41.59, for a total value of $623,850.00.

Michael Arntz also recently made the following trade(s):

  • On Monday, August 26th, Michael Arntz sold 93,172 shares of Smartsheet stock. The shares were sold at an average price of $50.04, for a total value of $4,662,326.88.
  • On Wednesday, August 14th, Michael Arntz sold 4,000 shares of Smartsheet stock. The shares were sold at an average price of $45.26, for a total value of $181,040.00.
  • On Monday, July 15th, Michael Arntz sold 14,000 shares of Smartsheet stock. The shares were sold at an average price of $54.14, for a total value of $757,960.00.

Smartsheet stock traded down $0.63 during midday trading on Thursday, reaching $40.91. 49,753 shares of the company were exchanged, compared to its average volume of 2,375,089. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -65.81 and a beta of 2.04. The firm’s 50-day simple moving average is $46.92 and its 200-day simple moving average is $44.95. Smartsheet Inc has a 1 year low of $20.34 and a 1 year high of $55.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.50 and a current ratio of 3.50.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.09. The firm had revenue of $64.64 million during the quarter, compared to analysts’ expectations of $63.55 million. Smartsheet had a negative return on equity of 24.74% and a negative net margin of 30.10%. The firm’s quarterly revenue was up 52.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. On average, analysts forecast that Smartsheet Inc will post -0.92 EPS for the current fiscal year.

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Smartsheet from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. Wedbush restated an “outperform” rating and issued a $62.00 price target on shares of Smartsheet in a research report on Friday, August 30th. Zacks Investment Research upgraded Smartsheet from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Wednesday, September 11th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price target (up previously from $45.00) on shares of Smartsheet in a research report on Thursday, July 11th. Finally, Stephens restated a “buy” rating and issued a $55.00 price target on shares of Smartsheet in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Smartsheet currently has an average rating of “Buy” and a consensus target price of $53.00.

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its position in Smartsheet by 240.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock worth $27,000 after purchasing an additional 466 shares in the last quarter. Meadow Creek Investment Management LLC increased its position in Smartsheet by 76.9% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 1,840 shares of the company’s stock worth $89,000 after purchasing an additional 800 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new stake in Smartsheet during the 2nd quarter worth about $93,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Smartsheet during the 2nd quarter worth about $111,000. Finally, Systematic Financial Management LP purchased a new stake in Smartsheet during the 2nd quarter worth about $118,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.

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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