Smartsheet Inc (NYSE:SMAR) CFO Pete Godbole Sells 10,129 Shares of Stock

Smartsheet Inc (NYSE:SMAR) CFO Pete Godbole sold 10,129 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,714,859.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Smartsheet Stock Performance

SMAR stock opened at $36.70 on Tuesday. The business’s 50-day moving average is $41.13 and its two-hundred day moving average is $42.79. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $52.81. The company has a market cap of $5.04 billion, a price-to-earnings ratio of -46.46 and a beta of 0.73.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.17. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. The firm had revenue of $256.95 million for the quarter, compared to the consensus estimate of $254.99 million. Equities analysts predict that Smartsheet Inc will post -0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SMAR. Capital World Investors raised its stake in shares of Smartsheet by 11.2% in the first quarter. Capital World Investors now owns 15,316,599 shares of the company’s stock worth $839,084,000 after buying an additional 1,542,891 shares during the period. Norges Bank purchased a new stake in shares of Smartsheet during the fourth quarter worth about $68,879,000. Goldman Sachs Group Inc. grew its position in shares of Smartsheet by 81.6% during the second quarter. Goldman Sachs Group Inc. now owns 2,808,651 shares of the company’s stock worth $88,276,000 after purchasing an additional 1,262,177 shares in the last quarter. RGM Capital LLC purchased a new stake in shares of Smartsheet during the third quarter worth about $50,705,000. Finally, Eminence Capital LP grew its position in shares of Smartsheet by 58.3% during the third quarter. Eminence Capital LP now owns 3,329,155 shares of the company’s stock worth $134,698,000 after purchasing an additional 1,226,189 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SMAR. Royal Bank of Canada cut their target price on Smartsheet from $48.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Friday, March 15th. JPMorgan Chase & Co. lowered their price target on Smartsheet from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Canaccord Genuity Group lowered their price target on Smartsheet from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Barclays lowered their price target on Smartsheet from $50.00 to $40.00 and set an “equal weight” rating on the stock in a report on Friday, March 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price target on shares of Smartsheet in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.75.

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.