Smartsheet Inc (NYSE:SMAR) CEO Sells $2,043,200.00 in Stock

Smartsheet Inc (NYSE:SMAR) CEO Mark Patrick Mader sold 40,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $51.08, for a total value of $2,043,200.00. Following the sale, the chief executive officer now directly owns 701,389 shares of the company’s stock, valued at approximately $35,826,950.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mark Patrick Mader also recently made the following trade(s):

  • On Monday, June 8th, Mark Patrick Mader sold 40,000 shares of Smartsheet stock. The shares were sold at an average price of $45.04, for a total value of $1,801,600.00.
  • On Wednesday, May 6th, Mark Patrick Mader sold 40,000 shares of Smartsheet stock. The shares were sold at an average price of $55.26, for a total value of $2,210,400.00.

NYSE:SMAR opened at $51.42 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.85 and a current ratio of 2.85. Smartsheet Inc has a one year low of $30.91 and a one year high of $60.45. The business’s 50-day simple moving average is $51.73 and its 200 day simple moving average is $48.05. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of -57.77 and a beta of 1.60.

Smartsheet (NYSE:SMAR) last released its quarterly earnings results on Wednesday, June 3rd. The company reported ($0.11) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.08. Smartsheet had a negative return on equity of 19.19% and a negative net margin of 34.62%. The business had revenue of $85.50 million for the quarter, compared to analysts’ expectations of $81.40 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. The company’s revenue was up 52.1% compared to the same quarter last year. On average, equities research analysts predict that Smartsheet Inc will post -1.13 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in SMAR. FMR LLC raised its stake in Smartsheet by 754,292.5% during the first quarter. FMR LLC now owns 1,214,572 shares of the company’s stock valued at $49,542,000 after buying an additional 1,214,411 shares in the last quarter. First Trust Advisors LP raised its stake in Smartsheet by 0.4% during the first quarter. First Trust Advisors LP now owns 86,589 shares of the company’s stock valued at $3,532,000 after buying an additional 318 shares in the last quarter. Victory Capital Management Inc. raised its stake in Smartsheet by 3.3% during the fourth quarter. Victory Capital Management Inc. now owns 89,595 shares of the company’s stock valued at $4,025,000 after buying an additional 2,871 shares in the last quarter. Atria Investments LLC acquired a new stake in Smartsheet during the fourth quarter valued at approximately $206,000. Finally, Great West Life Assurance Co. Can acquired a new stake in Smartsheet during the fourth quarter valued at approximately $421,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

SMAR has been the subject of several analyst reports. Morgan Stanley upped their target price on Smartsheet from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 23rd. Wedbush upped their target price on Smartsheet from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. downgraded Smartsheet from an “overweight” rating to a “neutral” rating and set a $50.00 target price for the company. in a research report on Thursday, April 23rd. DA Davidson upped their target price on Smartsheet from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Canaccord Genuity upped their target price on Smartsheet from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Smartsheet presently has an average rating of “Buy” and a consensus price target of $52.75.

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

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