Smartsheet Inc (NYSE:SMAR) Director Brent Frei sold 20,000 shares of Smartsheet stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $25.50, for a total value of $510,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Smartsheet stock traded down $0.16 during trading on Friday, reaching $25.57. 717,800 shares of the company were exchanged, compared to its average volume of 405,780. Smartsheet Inc has a 52-week low of $18.06 and a 52-week high of $33.98. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.02.
Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Tuesday, September 4th. The company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.08. The company had revenue of $42.38 million for the quarter, compared to analysts’ expectations of $39.21 million. The company’s revenue for the quarter was up 58.9% compared to the same quarter last year. Analysts forecast that Smartsheet Inc will post -0.68 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. purchased a new position in Smartsheet during the third quarter worth approximately $143,000. Bank of New York Mellon Corp purchased a new stake in Smartsheet in the second quarter valued at $230,000. Russell Investments Group Ltd. purchased a new stake in Smartsheet in the second quarter valued at $275,000. Systematic Financial Management LP purchased a new stake in Smartsheet in the second quarter valued at $307,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Smartsheet in the second quarter valued at $316,000. Hedge funds and other institutional investors own 41.77% of the company’s stock.
A number of brokerages recently commented on SMAR. Zacks Investment Research downgraded Smartsheet from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley reduced their price objective on Smartsheet from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 23rd. SunTrust Banks lifted their price objective on Smartsheet to $37.00 and gave the stock a “positive” rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. Canaccord Genuity lifted their price objective on Smartsheet from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, September 5th. Finally, Royal Bank of Canada lifted their price objective on Smartsheet to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Smartsheet has an average rating of “Buy” and an average target price of $34.86.
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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