Insider Selling: Smartsheet Inc (NYSE:SMAR) CRO Sells 15,000 Shares of Stock

Smartsheet Inc (NYSE:SMAR) CRO Michael Arntz sold 15,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $38.52, for a total value of $577,800.00.

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

  • On Friday, October 4th, Michael Arntz sold 20,000 shares of Smartsheet stock. The stock was sold at an average price of $38.06, for a total value of $761,200.00.
  • On Monday, September 16th, Michael Arntz sold 15,000 shares of Smartsheet stock. The stock was sold at an average price of $41.59, for a total value of $623,850.00.
  • On Monday, August 26th, Michael Arntz sold 93,172 shares of Smartsheet stock. The stock was 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 stock was sold at an average price of $45.26, for a total value of $181,040.00.

NYSE SMAR traded down $0.15 during midday trading on Thursday, hitting $38.80. 1,314,484 shares of the company traded hands, compared to its average volume of 1,807,561. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.50 and a quick ratio of 3.50. The company has a market cap of $4.79 billion, a PE ratio of -62.58 and a beta of 1.94. The company’s 50-day simple moving average is $40.85 and its 200-day simple moving average is $44.65. Smartsheet Inc has a 52 week low of $20.34 and a 52 week high of $55.79.

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

Several institutional investors and hedge funds have recently modified their holdings of SMAR. Vanguard Group Inc. lifted its holdings in shares of Smartsheet by 220.0% during the 2nd quarter. Vanguard Group Inc. now owns 6,756,252 shares of the company’s stock valued at $327,002,000 after purchasing an additional 4,644,716 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Smartsheet by 285.3% during the 2nd quarter. BlackRock Inc. now owns 4,536,828 shares of the company’s stock valued at $219,582,000 after purchasing an additional 3,359,344 shares during the last quarter. Whale Rock Capital Management LLC lifted its holdings in shares of Smartsheet by 87.3% during the 2nd quarter. Whale Rock Capital Management LLC now owns 5,030,271 shares of the company’s stock valued at $243,465,000 after purchasing an additional 2,344,769 shares during the last quarter. Abdiel Capital Advisors LP purchased a new stake in shares of Smartsheet during the 2nd quarter valued at $108,740,000. Finally, Coatue Management LLC purchased a new stake in shares of Smartsheet during the 2nd quarter valued at $99,384,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Several research analysts recently issued reports on SMAR shares. Zacks Investment Research cut Smartsheet from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Oppenheimer dropped their target price on Smartsheet from $58.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. ValuEngine cut Smartsheet from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Berenberg Bank initiated coverage on Smartsheet in a research report on Thursday, October 10th. They set a “buy” rating and a $48.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 target price (up previously from $45.00) on shares of Smartsheet in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $51.62.

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

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