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

Smartsheet Inc (NYSE:SMAR) CFO Pete Godbole sold 10,129 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,714,859.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Smartsheet Stock Down 0.4 %

SMAR opened at $36.58 on Wednesday. The firm has a market capitalization of $5.03 billion, a P/E ratio of -46.30 and a beta of 0.73. The stock has a fifty day moving average of $40.96 and a 200-day moving average of $42.76. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $52.81.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on SMAR shares. BMO Capital Markets dropped their price target on Smartsheet from $48.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Wells Fargo & Company dropped their price target on shares of Smartsheet from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Canaccord Genuity Group reduced their price objective on shares of Smartsheet from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, March 18th. KeyCorp started coverage on shares of Smartsheet in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Finally, Royal Bank of Canada reduced their target price on shares of Smartsheet from $48.00 to $36.00 and set a “sector perform” rating for the company in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.75.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Smartsheet by 256.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 152,522 shares of the company’s stock valued at $7,294,000 after acquiring an additional 109,786 shares in the last quarter. Moody National Bank Trust Division purchased a new position in Smartsheet in the fourth quarter valued at about $1,755,000. Lecap Asset Management Ltd. acquired a new position in Smartsheet in the 4th quarter worth about $1,287,000. Keenan Capital LLC raised its stake in shares of Smartsheet by 3.9% during the 3rd quarter. Keenan Capital LLC now owns 1,200,433 shares of the company’s stock worth $48,570,000 after purchasing an additional 45,000 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in shares of Smartsheet during the 3rd quarter valued at about $1,919,000. Institutional investors and hedge funds 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.