Insider Selling: Smartsheet Inc (NYSE:SMAR) CMO Sells $118,800.00 in Stock

Smartsheet Inc (NYSE:SMAR) CMO Anna Griffin sold 2,200 shares of the firm’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $54.00, for a total value of $118,800.00. Following the completion of the sale, the chief marketing officer now owns 6,671 shares in the company, valued at $360,234. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Anna Griffin also recently made the following trade(s):

  • On Tuesday, October 6th, Anna Griffin sold 900 shares of Smartsheet stock. The shares were sold at an average price of $50.23, for a total value of $45,207.00.

NYSE SMAR opened at $56.16 on Friday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.11. Smartsheet Inc has a 52-week low of $30.91 and a 52-week high of $60.80. The business’s 50-day moving average price is $50.18 and its 200 day moving average price is $49.55. The firm has a market cap of $6.77 billion, a P/E ratio of -59.74 and a beta of 1.50.

Smartsheet (NYSE:SMAR) last released its quarterly earnings results on Wednesday, September 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.10. Smartsheet had a negative return on equity of 20.90% and a negative net margin of 34.08%. The firm had revenue of $91.22 million for the quarter, compared to analyst estimates of $86.53 million. During the same quarter last year, the company posted ($0.08) earnings per share. The business’s revenue was up 41.1% on a year-over-year basis. As a group, analysts anticipate that Smartsheet Inc will post -1.19 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Emerald Mutual Fund Advisers Trust purchased a new stake in Smartsheet in the 2nd quarter valued at approximately $54,000. Parallel Advisors LLC purchased a new stake in Smartsheet in the 2nd quarter valued at approximately $76,000. Fifth Third Bancorp purchased a new stake in Smartsheet in the 2nd quarter valued at approximately $98,000. US Bancorp DE boosted its holdings in Smartsheet by 435.1% in the 2nd quarter. US Bancorp DE now owns 2,060 shares of the company’s stock valued at $105,000 after purchasing an additional 1,675 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in Smartsheet by 39.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,110 shares of the company’s stock valued at $107,000 after purchasing an additional 600 shares in the last quarter. 99.21% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on SMAR shares. JPMorgan Chase & Co. raised their price target on Smartsheet from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Truist raised their price target on Smartsheet from $50.00 to $68.00 in a research note on Thursday, September 3rd. Jefferies Financial Group lifted their target price on Smartsheet from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, September 3rd. DA Davidson lifted their target price on Smartsheet from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Zacks Investment Research upgraded Smartsheet from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Thursday, September 10th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Smartsheet currently has an average rating of “Buy” and an average target price of $58.69.

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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