Smartsheet Inc (NYSE:SMAR) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 8,900,000 shares, a growth of 6.1% from the September 30th total of 8,390,000 shares. Approximately 12.0% of the shares of the company are short sold. Based on an average trading volume of 2,450,000 shares, the days-to-cover ratio is currently 3.6 days.
In other news, Director Geoffrey T. Barker sold 16,700 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $51.02, for a total value of $852,034.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Patrick Mader sold 30,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $37.87, for a total value of $1,136,100.00. Following the completion of the sale, the chief executive officer now owns 941,636 shares of the company’s stock, valued at approximately $35,659,755.32. The disclosure for this sale can be found here. Insiders have sold a total of 799,172 shares of company stock valued at $32,801,758 in the last quarter. 24.73% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SMAR. FMR LLC lifted its holdings in shares of Smartsheet by 754,292.5% during the first quarter. FMR LLC now owns 1,214,572 shares of the company’s stock valued at $49,542,000 after purchasing an additional 1,214,411 shares during the last quarter. First Trust Advisors LP raised its position in Smartsheet by 0.4% during the first quarter. First Trust Advisors LP now owns 86,589 shares of the company’s stock valued at $3,532,000 after buying an additional 318 shares during the period. Perkins Coie Trust Co raised its position in Smartsheet by 131.1% during the second quarter. Perkins Coie Trust Co now owns 13,494 shares of the company’s stock valued at $653,000 after buying an additional 7,654 shares during the period. Xact Kapitalforvaltning AB acquired a new position in Smartsheet during the second quarter valued at $271,000. Finally, Evolution Wealth Advisors LLC acquired a new position in Smartsheet during the second quarter valued at $93,000. 76.23% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE SMAR traded up $2.05 during mid-day trading on Friday, hitting $41.25. 2,004,084 shares of the company traded hands, compared to its average volume of 1,756,991. Smartsheet has a 1 year low of $20.34 and a 1 year high of $55.79. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of -66.53 and a beta of 1.95. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average of $38.75 and a two-hundred day moving average of $44.51.
Smartsheet (NYSE:SMAR) last announced its earnings results on Wednesday, September 4th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.09. Smartsheet had a negative return on equity of 24.74% and a negative net margin of 30.10%. The business had revenue of $64.64 million during the quarter, compared to the consensus estimate of $63.55 million. During the same period in the prior year, the business posted ($0.08) earnings per share. Smartsheet’s revenue was up 52.5% compared to the same quarter last year. As a group, research analysts anticipate that Smartsheet will post -0.92 EPS for the current year.
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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