Smartsheet Inc (NYSE:SMAR – Get Free Report) was the recipient of unusually large options trading activity on Friday. Stock traders bought 2,301 call options on the company. This is an increase of approximately 99% compared to the typical volume of 1,157 call options.
Insiders Place Their Bets
In related news, insider Jolene Lau Marshall sold 3,741 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $48.18, for a total value of $180,241.38. Following the completion of the sale, the insider now owns 17,100 shares in the company, valued at $823,878. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Smartsheet news, insider Jolene Lau Marshall sold 3,741 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $48.18, for a total value of $180,241.38. Following the completion of the sale, the insider now owns 17,100 shares of the company’s stock, valued at $823,878. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen Robert Branstetter sold 2,004 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $48.00, for a total transaction of $96,192.00. Following the completion of the sale, the chief operating officer now owns 61,791 shares in the company, valued at $2,965,968. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,929 shares of company stock valued at $1,446,805. Company insiders own 4.52% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in SMAR. Sei Investments Co. raised its position in Smartsheet by 20.3% in the 1st quarter. Sei Investments Co. now owns 147,306 shares of the company’s stock valued at $5,671,000 after buying an additional 24,823 shares during the last quarter. Norges Bank bought a new position in shares of Smartsheet during the 4th quarter worth approximately $68,879,000. CWM LLC boosted its stake in shares of Smartsheet by 218.0% in the 2nd quarter. CWM LLC now owns 19,869 shares of the company’s stock worth $876,000 after buying an additional 13,621 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Smartsheet in the first quarter valued at approximately $1,512,000. Finally, Alberta Investment Management Corp purchased a new stake in shares of Smartsheet during the fourth quarter valued at approximately $1,219,000. 90.01% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on SMAR
Smartsheet Price Performance
Shares of Smartsheet stock traded up $4.37 during midday trading on Friday, reaching $53.72. The company had a trading volume of 1,357,780 shares, compared to its average volume of 1,469,134. The firm has a market cap of $7.43 billion, a PE ratio of -85.37 and a beta of 0.74. Smartsheet has a fifty-two week low of $35.52 and a fifty-two week high of $54.20. The stock has a fifty day moving average price of $46.84 and a 200 day moving average price of $42.46.
Smartsheet (NYSE:SMAR – Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. The firm had revenue of $276.41 million for the quarter, compared to analysts’ expectations of $274.23 million. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. During the same period in the prior year, the business earned ($0.23) EPS. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Smartsheet will post -0.21 EPS for the current year.
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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