Smartsheet Inc (NYSE:SMAR – Get Free Report) CRO Michael Arntz sold 7,702 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $39.44, for a total value of $303,766.88. Following the sale, the executive now owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Michael Arntz also recently made the following trade(s):
- On Thursday, February 1st, Michael Arntz sold 7,572 shares of Smartsheet stock. The stock was sold at an average price of $44.81, for a total value of $339,301.32.
- On Tuesday, January 2nd, Michael Arntz sold 7,632 shares of Smartsheet stock. The stock was sold at an average price of $46.69, for a total value of $356,338.08.
Smartsheet Stock Performance
Shares of SMAR opened at $38.39 on Thursday. The business’s 50-day moving average is $43.09 and its two-hundred day moving average is $43.03. The company has a market capitalization of $5.23 billion, a P/E ratio of -48.59 and a beta of 0.75. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $52.81.
Institutional Investors Weigh In On Smartsheet
A number of institutional investors have recently modified their holdings of the business. Capital World Investors grew its position in shares of Smartsheet by 11.2% during the 1st quarter. Capital World Investors now owns 15,316,599 shares of the company’s stock valued at $839,084,000 after acquiring an additional 1,542,891 shares during the period. Vanguard Group Inc. boosted its holdings in Smartsheet by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 13,583,818 shares of the company’s stock worth $649,578,000 after buying an additional 276,117 shares during the last quarter. BlackRock Inc. boosted its holdings in Smartsheet by 1.9% in the 2nd quarter. BlackRock Inc. now owns 7,044,582 shares of the company’s stock worth $269,526,000 after buying an additional 130,431 shares during the last quarter. Brown Capital Management LLC boosted its holdings in Smartsheet by 5.7% in the 2nd quarter. Brown Capital Management LLC now owns 6,364,160 shares of the company’s stock worth $243,493,000 after buying an additional 344,040 shares during the last quarter. Finally, Eminence Capital LP boosted 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 buying an additional 1,226,189 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have weighed in on SMAR. Citigroup upgraded Smartsheet from a “neutral” rating to a “buy” rating and upped their target price for the stock from $56.00 to $63.00 in a report on Thursday, January 11th. BMO Capital Markets lowered their target price on Smartsheet from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Wells Fargo & Company decreased their price objective on Smartsheet from $55.00 to $47.00 and set an “overweight” rating for the company in a report on Friday, March 15th. UBS Group decreased their price objective on Smartsheet from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 15th. Finally, Barclays decreased their price objective on Smartsheet from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Smartsheet presently has an average rating of “Moderate Buy” and a consensus price target of $49.75.
View Our Latest Research Report on Smartsheet
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.
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