Jennifer Ceran Sells 10,000 Shares of Smartsheet Inc (SMAR) Stock

Smartsheet Inc (NYSE:SMAR) CFO Jennifer Ceran sold 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $41.00, for a total value of $410,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.

Jennifer Ceran also recently made the following trade(s):

  • On Friday, March 22nd, Jennifer Ceran sold 100,000 shares of Smartsheet stock. The stock was sold at an average price of $42.63, for a total value of $4,263,000.00.

Shares of SMAR stock opened at $42.35 on Friday. The firm has a market capitalization of $4.38 billion and a price-to-earnings ratio of -68.31. Smartsheet Inc has a fifty-two week low of $19.12 and a fifty-two week high of $49.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 1.81.

Smartsheet (NYSE:SMAR) last issued its earnings results on Tuesday, March 19th. The company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.12. The firm had revenue of $52.20 million for the quarter, compared to the consensus estimate of $49.72 million. Smartsheet had a negative return on equity of 49.01% and a negative net margin of 30.32%. The company’s quarterly revenue was up 58.2% on a year-over-year basis. On average, analysts forecast that Smartsheet Inc will post -1 earnings per share for the current year.

Several hedge funds have recently modified their holdings of SMAR. BlackRock Inc. boosted its position in shares of Smartsheet by 10.7% in the 3rd quarter. BlackRock Inc. now owns 751,415 shares of the company’s stock worth $23,489,000 after buying an additional 72,383 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in shares of Smartsheet in the 3rd quarter worth about $246,000. Morgan Stanley boosted its position in shares of Smartsheet by 1,011.4% in the 3rd quarter. Morgan Stanley now owns 592,133 shares of the company’s stock worth $18,510,000 after buying an additional 538,853 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Smartsheet by 16.7% in the 3rd quarter. Vanguard Group Inc. now owns 587,606 shares of the company’s stock worth $18,369,000 after buying an additional 83,956 shares in the last quarter. Finally, Vanguard Group Inc boosted its position in shares of Smartsheet by 16.7% in the 3rd quarter. Vanguard Group Inc now owns 587,606 shares of the company’s stock worth $18,369,000 after buying an additional 83,956 shares in the last quarter. 37.98% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have commented on SMAR. Canaccord Genuity restated a “buy” rating and set a $53.00 price objective (up previously from $35.00) on shares of Smartsheet in a research note on Wednesday, March 20th. DA Davidson began coverage on Smartsheet in a research note on Thursday, March 21st. They set a “neutral” rating and a $45.00 price objective on the stock. Royal Bank of Canada raised their price objective on Smartsheet to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Stephens restated a “buy” rating and set a $55.00 price objective on shares of Smartsheet in a research note on Tuesday, April 23rd. Finally, SunTrust Banks raised their price objective on Smartsheet to $56.00 and gave the stock a “positive” rating in a research note on Wednesday, March 20th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $51.18.

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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.

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