Smartsheet Inc (NYSE:SMAR) COO Sells $183,280.34 in Stock

Smartsheet Inc (NYSE:SMAR) COO Stephen Robert Branstetter sold 4,174 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $43.91, for a total transaction of $183,280.34. Following the sale, the chief operating officer now owns 68,067 shares of the company’s stock, valued at approximately $2,988,821.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Stephen Robert Branstetter also recently made the following trade(s):

• On Wednesday, March 27th, Stephen Robert Branstetter sold 5,737 shares of Smartsheet stock. The stock was sold at an average price of $38.22, for a total transaction of $219,268.14.

Smartsheet Stock Down 0.4 %

SMAR stock opened at $41.78 on Friday. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $49.42. The firm has a market cap of $5.74 billion, a P/E ratio of -67.39 and a beta of 0.74. The company’s 50-day moving average price is $39.56 and its two-hundred day moving average price is $42.41.

Smartsheet (NYSE:SMAR) last released its earnings results on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.17. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. The firm had revenue of $256.95 million for the quarter, compared to analyst estimates of $254.99 million. Equities analysts predict that Smartsheet Inc will post -0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SMAR. Royal Bank of Canada raised their target price on shares of Smartsheet from $36.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 6th. KeyCorp started coverage on shares of Smartsheet in a research note on Thursday, March 21st. They set a “sector weight” rating for the company. Bank of America started coverage on shares of Smartsheet in a research note on Monday, February 26th. They issued an “underperform” rating and a $45.00 price objective for the company. BMO Capital Markets lifted their price objective on shares of Smartsheet from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Finally, Jefferies Financial Group dropped their price objective on shares of Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.75.

Hedge Funds Weigh In On Smartsheet

Several hedge funds have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Smartsheet during the 4th quarter valued at approximately $33,000. Allworth Financial LP grew its holdings in shares of Smartsheet by 2,503.4% during the 4th quarter. Allworth Financial LP now owns 755 shares of the company’s stock valued at $36,000 after purchasing an additional 726 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Smartsheet during the 1st quarter valued at approximately $29,000. Plato Investment Management Ltd bought a new stake in shares of Smartsheet during the 1st quarter valued at approximately $35,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Smartsheet by 24.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,822 shares of the company’s stock valued at $70,000 after purchasing an additional 360 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

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.