Smartsheet Inc (NYSE:SMAR) COO Stephen Robert Branstetter Sells 5,737 Shares

Smartsheet Inc (NYSE:SMAR) COO Stephen Robert Branstetter sold 5,737 shares of Smartsheet stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total transaction of $219,268.14. Following the completion of the sale, the chief operating officer now directly owns 67,801 shares of the company’s stock, valued at $2,591,354.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Smartsheet Trading Up 0.3 %

Shares of NYSE SMAR traded up $0.10 during midday trading on Friday, hitting $38.50. The company’s stock had a trading volume of 1,222,393 shares, compared to its average volume of 2,307,292. The stock has a fifty day moving average price of $42.79 and a 200 day moving average price of $42.96. Smartsheet Inc has a one year low of $35.52 and a one year high of $52.81. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of -48.73 and a beta of 0.75.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group decreased their price target on shares of Smartsheet from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Oppenheimer decreased their price target on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. Barclays decreased their price target on shares of Smartsheet from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and set a $57.00 price objective on shares of Smartsheet in a report on Friday, March 15th. Finally, Jefferies Financial Group reduced their price objective on shares of Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.75.

Institutional Trading of Smartsheet

A number of hedge funds and other institutional investors have recently bought and sold shares of SMAR. Capital World Investors increased its holdings in Smartsheet by 11.2% during the 1st quarter. Capital World Investors now owns 15,316,599 shares of the company’s stock worth $839,084,000 after acquiring an additional 1,542,891 shares during the period. Norges Bank purchased a new stake in shares of Smartsheet in the 4th quarter valued at $68,879,000. Goldman Sachs Group Inc. boosted its stake in shares of Smartsheet by 81.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,808,651 shares of the company’s stock valued at $88,276,000 after purchasing an additional 1,262,177 shares in the last quarter. RGM Capital LLC bought a new stake in Smartsheet in the 3rd quarter worth $50,705,000. Finally, Eminence Capital LP grew its holdings in Smartsheet by 58.3% in the 3rd quarter. Eminence Capital LP now owns 3,329,155 shares of the company’s stock worth $134,698,000 after acquiring an additional 1,226,189 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

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.