Smartsheet Inc (NYSE:SMAR) Director Geoffrey T. Barker sold 20,000 shares of the stock in a transaction on Tuesday, January 8th. The stock was sold at an average price of $25.20, for a total transaction of $504,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
NYSE SMAR opened at $25.79 on Friday. Smartsheet Inc has a 52-week low of $18.06 and a 52-week high of $33.98. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09.
Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Monday, December 3rd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. Smartsheet had a negative net margin of 32.12% and a negative return on equity of 111.93%. The business had revenue of $46.90 million during the quarter, compared to the consensus estimate of $44.12 million. The business’s revenue for the quarter was up 59.5% compared to the same quarter last year. On average, research analysts expect that Smartsheet Inc will post -0.6 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of SMAR. BlackRock Inc. bought a new position in shares of Smartsheet in the second quarter valued at approximately $17,635,000. Hodges Capital Management Inc. bought a new position in shares of Smartsheet in the third quarter valued at approximately $4,946,000. Bank of New York Mellon Corp bought a new position in shares of Smartsheet in the second quarter valued at approximately $230,000. Russell Investments Group Ltd. bought a new position in shares of Smartsheet in the second quarter valued at approximately $275,000. Finally, Hsbc Holdings PLC bought a new position in shares of Smartsheet in the third quarter valued at approximately $1,563,000. Institutional investors and hedge funds own 41.63% of the company’s stock.
Several research analysts recently issued reports on SMAR shares. Morgan Stanley cut their target price on shares of Smartsheet from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 23rd. Zacks Investment Research upgraded shares of Smartsheet from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, October 9th. Royal Bank of Canada lowered their price objective on shares of Smartsheet from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 30th. Finally, Stephens assumed coverage on shares of Smartsheet in a report on Thursday, January 3rd. They set an “overweight” rating and a $32.00 price objective on the stock. Nine analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $34.00.
Smartsheet Inc provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts.
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