Smartsheet Inc (NYSE:SMAR) COO Stephen Robert Branstetter Sells 4,272 Shares

Smartsheet Inc (NYSE:SMAR) COO Stephen Robert Branstetter sold 4,272 shares of Smartsheet stock in a transaction on Friday, June 28th. The stock was sold at an average price of $44.42, for a total value of $189,762.24. Following the transaction, the chief operating officer now directly owns 63,795 shares of the company’s stock, valued at $2,833,773.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, June 11th, Stephen Robert Branstetter sold 4,174 shares of Smartsheet stock. The stock was sold at an average price of $43.91, for a total value of $183,280.34.

Smartsheet Trading Down 1.9 %

Smartsheet stock opened at $43.29 on Thursday. The stock has a fifty day moving average price of $40.79 and a 200 day moving average price of $42.23. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $49.42.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings results on Wednesday, June 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. The firm had revenue of $262.98 million during the quarter, compared to the consensus estimate of $258.06 million. On average, analysts anticipate that Smartsheet Inc will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On Smartsheet

Institutional investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in Smartsheet during the first quarter valued at about $29,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Smartsheet during the fourth quarter valued at about $33,000. Plato Investment Management Ltd purchased a new stake in Smartsheet during the first quarter valued at about $35,000. Allworth Financial LP boosted its position in shares of Smartsheet by 2,503.4% in the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after buying an additional 726 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Smartsheet by 24.6% in the first quarter. Advisors Asset Management Inc. now owns 1,822 shares of the company’s stock worth $70,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

SMAR has been the subject of a number of analyst reports. UBS Group boosted their price target on Smartsheet from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Oppenheimer cut their price target on Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Royal Bank of Canada boosted their price target on Smartsheet from $36.00 to $43.00 and gave the stock a “sector perform” rating in a report on Thursday, June 6th. BMO Capital Markets boosted their price target on Smartsheet from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, June 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $57.00 price target on shares of Smartsheet in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Smartsheet currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

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.