Smartsheet Inc (NYSE:SMAR) CRO Sells $303,766.88 in Stock

Smartsheet Inc (NYSE:SMAR) CRO Michael Arntz sold 7,702 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $39.44, for a total transaction of $303,766.88. Following the completion of the transaction, the executive now owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Michael Arntz also recently made the following trade(s):

• On Thursday, February 1st, Michael Arntz sold 7,572 shares of Smartsheet stock. The shares were sold at an average price of $44.81, for a total transaction of $339,301.32.
• On Tuesday, January 2nd, Michael Arntz sold 7,632 shares of Smartsheet stock. The shares were sold at an average price of $46.69, for a total transaction of $356,338.08.

Smartsheet Price Performance

NYSE SMAR opened at $38.50 on Friday. The business has a 50 day simple moving average of $43.09 and a 200 day simple moving average of $43.03. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $52.81.

Smartsheet (NYSE:SMAR) last posted its earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $256.95 million during the quarter, compared to analysts’ expectations of $254.99 million. Equities analysts expect that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SMAR shares. BMO Capital Markets reduced their price objective on shares of Smartsheet from $48.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Bank of America started coverage on shares of Smartsheet in a research report on Monday, February 26th. They set an “underperform” rating and a $45.00 price objective for the company. Oppenheimer reduced their price objective on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Royal Bank of Canada reduced their price objective on shares of Smartsheet from $48.00 to $36.00 and set a “sector perform” rating for the company in a research note on Friday, March 15th. Finally, Morgan Stanley reduced their price objective on shares of Smartsheet from $56.00 to $51.00 and set an “overweight” rating for the company in a research note 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.75.

Hedge Funds Weigh In On Smartsheet

A number of large investors have recently bought and sold shares of SMAR. Capital World Investors boosted its position 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 last quarter. Norges Bank acquired a new position in Smartsheet during the 4th quarter worth approximately $68,879,000. Champlain Investment Partners LLC boosted its position in Smartsheet by 183.8% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,153,245 shares of the company’s stock worth $82,383,000 after acquiring an additional 1,394,470 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Smartsheet by 81.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,808,651 shares of the company’s stock worth $88,276,000 after acquiring an additional 1,262,177 shares during the last quarter. Finally, RGM Capital LLC acquired a new position in Smartsheet during the 3rd quarter worth approximately $50,705,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.