Insider Selling: Smartsheet Inc (NYSE:SMAR) Insider Sells $580,907.52 in Stock

Smartsheet Inc (NYSE:SMAR) insider Eugene Farrell sold 10,944 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $53.08, for a total transaction of $580,907.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eugene Farrell also recently made the following trade(s):

  • On Tuesday, June 18th, Eugene Farrell sold 10,000 shares of Smartsheet stock. The shares were sold at an average price of $50.00, for a total transaction of $500,000.00.

Shares of SMAR stock opened at $54.11 on Friday. The stock’s fifty day moving average is $46.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.63 and a quick ratio of 1.63. Smartsheet Inc has a 12-month low of $20.34 and a 12-month high of $54.44. The company has a market capitalization of $5.65 billion, a P/E ratio of -87.27 and a beta of 2.01.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings data on Wednesday, June 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.15. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 34.42%. The company had revenue of $56.19 million during the quarter, compared to the consensus estimate of $54.65 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The firm’s revenue was up 54.7% compared to the same quarter last year. As a group, sell-side analysts predict that Smartsheet Inc will post -0.97 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of SMAR. Whale Rock Capital Management LLC increased its position in shares of Smartsheet by 320.6% during the fourth quarter. Whale Rock Capital Management LLC now owns 2,687,999 shares of the company’s stock worth $66,824,000 after acquiring an additional 2,048,846 shares in the last quarter. CI Investments Inc. bought a new stake in shares of Smartsheet during the fourth quarter worth $40,607,000. FMR LLC increased its position in shares of Smartsheet by 754,292.5% during the first quarter. FMR LLC now owns 1,214,572 shares of the company’s stock worth $49,542,000 after acquiring an additional 1,214,411 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Smartsheet during the first quarter worth $22,129,000. Finally, Massachusetts Institute of Technology bought a new stake in shares of Smartsheet during the fourth quarter worth $8,923,000. 56.63% of the stock is owned by institutional investors.

SMAR has been the subject of several recent analyst reports. SunTrust Banks upped their target price on shares of Smartsheet to $56.00 and gave the company a “positive” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Canaccord Genuity lowered their target price on shares of Western Energy Services from C$0.50 to C$0.40 in a research note on Wednesday, March 20th. Needham & Company LLC set a $52.00 target price on shares of Uber Technologies and gave the company a “buy” rating in a research note on Thursday. Jefferies Financial Group upped their target price on shares of Just Eat from GBX 1,050 ($13.72) to GBX 1,150 ($15.03) and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Zacks Investment Research downgraded shares of Essential Properties Realty Trust from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $52.36.

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.

Further Reading: Buy Rating

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

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