Smartsheet Inc (NYSE:SMAR)’s share price rose 5.6% during trading on Thursday . The company traded as high as $69.66 and last traded at $69.66. Approximately 34,974 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 1,134,078 shares. The stock had previously closed at $65.99.
Several equities analysts have recently issued reports on SMAR shares. Citigroup upped their price objective on shares of Smartsheet from $77.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, September 8th. Zacks Investment Research raised Smartsheet from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Thursday. Royal Bank of Canada raised their target price on Smartsheet from $65.00 to $80.00 and gave the company a “sector perform” rating in a report on Wednesday, September 8th. KeyCorp lifted their price target on Smartsheet from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 8th. Finally, William Blair reiterated a “buy” rating on shares of Smartsheet in a research report on Wednesday, September 8th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $85.76.
The stock has a market capitalization of $8.85 billion, a P/E ratio of -61.28 and a beta of 1.41. The company’s fifty day simple moving average is $72.60 and its two-hundred day simple moving average is $67.78.
In related news, Director Geoffrey T. Barker sold 6,750 shares of the business’s stock in a transaction dated Wednesday, October 6th. The shares were sold at an average price of $66.01, for a total transaction of $445,567.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Elena Gomez sold 5,000 shares of the business’s stock in a transaction dated Tuesday, July 20th. The shares were sold at an average price of $71.48, for a total transaction of $357,400.00. Following the completion of the transaction, the director now owns 431,531 shares in the company, valued at $30,845,835.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,363 shares of company stock worth $20,472,348. 6.07% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SMAR. Asset Management One Co. Ltd. bought a new stake in shares of Smartsheet in the second quarter valued at approximately $28,000. O Shaughnessy Asset Management LLC bought a new stake in Smartsheet during the 2nd quarter worth approximately $37,000. Advisory Services Network LLC bought a new stake in Smartsheet during the 2nd quarter worth approximately $48,000. Koshinski Asset Management Inc. bought a new position in shares of Smartsheet in the 3rd quarter worth $56,000. Finally, Capital Analysts LLC bought a new position in shares of Smartsheet in the 2nd quarter worth $71,000. 87.47% of the stock is currently owned by institutional investors.
Smartsheet Company Profile (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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