Smartsheet Inc (NYSE:SMAR) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $53.11 and last traded at $52.51, with a volume of 1926 shares traded. The stock had previously closed at $52.18.
Several research analysts have commented on SMAR shares. Canaccord Genuity decreased their target price on shares of Western Energy Services from C$0.50 to C$0.40 in a report on Wednesday, March 20th. Needham & Company LLC set a $52.00 target price on shares of Uber Technologies and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada set a GBX 1,750 ($22.87) target price on shares of Prudential and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Oppenheimer raised their target price on shares of Recro Pharma from $9.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Stephens reiterated a “buy” rating and issued a $34.00 target price on shares of Guaranty Bancshares in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $52.36.
The company has a debt-to-equity ratio of 0.29, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market cap of $5.49 billion, a price-to-earnings ratio of -85.47 and a beta of 2.02. The company has a fifty day moving average of $46.64.
Smartsheet (NYSE:SMAR) last posted its quarterly earnings results on Wednesday, June 5th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.15. The business had revenue of $56.19 million during the quarter, compared to analysts’ expectations of $54.65 million. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 34.42%. The firm’s quarterly revenue was up 54.7% compared to the same quarter last year. During the same period last year, the company posted ($0.12) earnings per share. On average, equities analysts forecast that Smartsheet Inc will post -0.97 earnings per share for the current fiscal year.
In related news, major shareholder Venture Fund L. P. Madrona III sold 5,175,000 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $43.50, for a total transaction of $225,112,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Geoffrey T. Barker sold 16,700 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $40.50, for a total transaction of $676,350.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,958,389 shares of company stock valued at $477,654,521. 24.73% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Massachusetts Institute of Technology bought a new position in Smartsheet during the fourth quarter valued at approximately $8,923,000. Raymond James & Associates bought a new position in Smartsheet during the fourth quarter valued at approximately $553,000. Fiera Capital Corp bought a new position in Smartsheet during the fourth quarter valued at approximately $516,000. Whale Rock Capital Management LLC raised its position in shares of Smartsheet by 320.6% in the fourth quarter. Whale Rock Capital Management LLC now owns 2,687,999 shares of the company’s stock valued at $66,824,000 after purchasing an additional 2,048,846 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Smartsheet in the first quarter valued at approximately $209,000. 56.63% of the stock is currently owned by hedge funds and other institutional investors.
About Smartsheet (NYSE:SMAR)
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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