Megan Hansen Sells 4,000 Shares of Smartsheet Inc (NYSE:SMAR) Stock

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Smartsheet Inc (NYSE:SMARGet Rating) insider Megan Hansen sold 4,000 shares of Smartsheet stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $38.04, for a total value of $152,160.00. Following the completion of the sale, the insider now directly owns 4,155 shares in the company, valued at approximately $158,056.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Smartsheet Stock Performance

Smartsheet stock opened at $36.31 on Friday. Smartsheet Inc has a 52 week low of $27.05 and a 52 week high of $80.89. The stock has a market capitalization of $4.70 billion, a P/E ratio of -20.87 and a beta of 1.41. The stock has a 50-day simple moving average of $33.91 and a 200 day simple moving average of $39.91.

Smartsheet (NYSE:SMARGet Rating) last issued its quarterly earnings data on Thursday, September 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.10. Smartsheet had a negative return on equity of 42.47% and a negative net margin of 33.88%. The company had revenue of $186.70 million during the quarter, compared to analysts’ expectations of $180.56 million. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The business’s revenue was up 41.8% on a year-over-year basis. Research analysts forecast that Smartsheet Inc will post -2.03 earnings per share for the current year.

Institutional Investors Weigh In On Smartsheet

A number of institutional investors have recently made changes to their positions in SMAR. Raymond James & Associates boosted its holdings in shares of Smartsheet by 47.6% during the fourth quarter. Raymond James & Associates now owns 18,669 shares of the company’s stock worth $1,446,000 after acquiring an additional 6,022 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Smartsheet by 7.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 185,626 shares of the company’s stock worth $14,379,000 after acquiring an additional 12,128 shares during the period. AlphaCrest Capital Management LLC boosted its holdings in shares of Smartsheet by 9.4% during the fourth quarter. AlphaCrest Capital Management LLC now owns 6,487 shares of the company’s stock worth $502,000 after acquiring an additional 556 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Smartsheet by 5.5% during the fourth quarter. Principal Financial Group Inc. now owns 13,051 shares of the company’s stock worth $1,011,000 after acquiring an additional 681 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Smartsheet by 21.7% in the fourth quarter. Teacher Retirement System of Texas now owns 23,370 shares of the company’s stock valued at $1,810,000 after buying an additional 4,166 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SMAR. BMO Capital Markets lowered their target price on Smartsheet from $43.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, September 2nd. Morgan Stanley lowered their target price on Smartsheet from $68.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, September 2nd. Wells Fargo & Company lowered their target price on Smartsheet from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 7th. Citigroup lowered their target price on Smartsheet from $47.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, September 1st. Finally, Canaccord Genuity Group lowered their target price on Smartsheet from $60.00 to $45.00 in a research report on Friday, September 2nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.27.

Smartsheet Company Profile

(Get Rating)

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.

Further Reading

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