Smartsheet Inc (NYSE:SMAR) Insider Jolene Lau Marshall Sells 3,994 Shares

Smartsheet Inc (NYSE:SMAR) insider Jolene Lau Marshall sold 3,994 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $43.11, for a total transaction of $172,181.34. Following the completion of the sale, the insider now owns 16,567 shares of the company’s stock, valued at approximately $714,203.37. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Smartsheet Trading Down 0.3 %

NYSE SMAR opened at $43.09 on Friday. The company has a fifty day simple moving average of $41.40 and a 200 day simple moving average of $42.11. The company has a market cap of $5.96 billion, a P/E ratio of -69.50 and a beta of 0.74. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $49.42.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Wednesday, June 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. The business had revenue of $262.98 million during the quarter, compared to the consensus estimate of $258.06 million. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. Equities research analysts forecast that Smartsheet Inc will post -0.24 EPS for the current fiscal year.

Institutional Trading of Smartsheet

Several large investors have recently modified their holdings of the company. Cornercap Investment Counsel Inc. boosted its holdings in shares of Smartsheet by 1.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 22,860 shares of the company’s stock worth $1,093,000 after buying an additional 285 shares during the period. Advisors Asset Management Inc. boosted its holdings in Smartsheet by 24.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,822 shares of the company’s stock valued at $70,000 after purchasing an additional 360 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Smartsheet by 3.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,014 shares of the company’s stock valued at $670,000 after purchasing an additional 402 shares during the period. Avior Wealth Management LLC boosted its holdings in Smartsheet by 5.9% in the 4th quarter. Avior Wealth Management LLC now owns 7,928 shares of the company’s stock valued at $379,000 after purchasing an additional 441 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in Smartsheet by 1.3% in the 1st quarter. Bessemer Group Inc. now owns 39,271 shares of the company’s stock valued at $1,512,000 after purchasing an additional 500 shares during the period. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Oppenheimer dropped their price objective on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price objective on shares of Smartsheet in a research note on Thursday, June 6th. Morgan Stanley upped their price objective on shares of Smartsheet from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, June 6th. Royal Bank of Canada upped their price objective on shares of Smartsheet from $36.00 to $43.00 and gave the company a “sector perform” rating in a research note on Thursday, June 6th. Finally, Barclays upped their price objective on shares of Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, June 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.00.

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.