Smartsheet Inc (NYSE:SMAR) Director Brent Frei sold 50,100 shares of the stock in a transaction on Friday, June 11th. The shares were sold at an average price of $63.89, for a total value of $3,200,889.00. Following the completion of the sale, the director now directly owns 2,605,562 shares of the company’s stock, valued at $166,469,356.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Brent Frei also recently made the following trade(s):
- On Monday, June 14th, Brent Frei sold 49,900 shares of Smartsheet stock. The shares were sold at an average price of $65.14, for a total value of $3,250,486.00.
SMAR stock opened at $64.00 on Wednesday. The company has a market cap of $8.01 billion, a P/E ratio of -63.37 and a beta of 1.40. Smartsheet Inc has a fifty-two week low of $40.21 and a fifty-two week high of $85.43. The business’s fifty day moving average price is $60.17.
Smartsheet (NYSE:SMAR) last issued its quarterly earnings data on Tuesday, June 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. The business had revenue of $117.08 million for the quarter, compared to analysts’ expectations of $114.76 million. Smartsheet had a negative return on equity of 22.90% and a negative net margin of 29.79%. The firm’s quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) EPS. On average, sell-side analysts predict that Smartsheet Inc will post -1.37 EPS for the current fiscal year.
A number of research analysts have issued reports on SMAR shares. Wells Fargo & Company reduced their price objective on Smartsheet from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, June 3rd. Citigroup upped their price objective on Smartsheet from $65.00 to $76.00 in a research note on Wednesday, March 17th. Zacks Investment Research upgraded Smartsheet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 19th. Royal Bank of Canada downgraded Smartsheet from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $80.00 to $65.00 in a research note on Friday, June 11th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on Smartsheet from $65.00 to $76.00 in a research note on Thursday, March 18th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Smartsheet has a consensus rating of “Buy” and an average target price of $75.81.
A number of institutional investors and hedge funds have recently modified their holdings of SMAR. Bessemer Group Inc. purchased a new stake in Smartsheet during the 4th quarter worth about $33,000. Oder Investment Management LLC purchased a new stake in Smartsheet during the 4th quarter worth about $40,000. NN Investment Partners Holdings N.V. purchased a new stake in Smartsheet during the 1st quarter worth about $89,000. Panagora Asset Management Inc. purchased a new stake in Smartsheet during the 1st quarter worth about $113,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Smartsheet by 40.0% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,100 shares of the company’s stock worth $134,000 after purchasing an additional 600 shares in the last quarter. 87.24% of the stock is currently owned by institutional investors and hedge funds.
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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