Smartsheet Target of Unusually High Options Trading (NYSE:SMAR)

Smartsheet Inc (NYSE:SMAR) was the recipient of unusually large options trading on Wednesday. Investors acquired 1,684 put options on the company. This is an increase of approximately 734% compared to the typical daily volume of 202 put options.

In other news, insider Kara Hamilton sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $40.18, for a total value of $401,800.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Insight Holdings Group, Llc sold 371,513 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $40.31, for a total value of $14,975,689.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,313,309 shares of company stock worth $490,796,801. Company insiders own 24.73% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its stake in shares of Smartsheet by 240.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock valued at $27,000 after acquiring an additional 466 shares during the last quarter. Optimum Investment Advisors bought a new position in Smartsheet during the 1st quarter worth $41,000. Caz Investments LP raised its position in Smartsheet by 100.0% during the 4th quarter. Caz Investments LP now owns 1,200 shares of the company’s stock worth $30,000 after purchasing an additional 600 shares during the last quarter. Neuburgh Advisers LLC raised its position in Smartsheet by 90.9% during the 4th quarter. Neuburgh Advisers LLC now owns 1,386 shares of the company’s stock worth $34,000 after purchasing an additional 660 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in Smartsheet during the 4th quarter worth $36,000. Institutional investors own 56.63% of the company’s stock.

NYSE SMAR traded up $0.70 on Friday, hitting $48.40. 10,153,868 shares of the company’s stock were exchanged, compared to its average volume of 2,960,280. The business has a 50-day moving average price of $44.07. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.29. Smartsheet has a 52 week low of $20.34 and a 52 week high of $50.64. The company has a market cap of $5.08 billion, a PE ratio of -78.06 and a beta of 2.17.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings results on Wednesday, June 5th. The company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.15. Smartsheet had a negative return on equity of 34.42% and a negative net margin of 30.04%. The company had revenue of $56.19 million during the quarter, compared to analysts’ expectations of $54.65 million. During the same period in the prior year, the company earned ($0.12) EPS. Smartsheet’s revenue was up 54.7% compared to the same quarter last year. On average, equities research analysts anticipate that Smartsheet will post -0.97 EPS for the current year.

A number of equities research analysts recently issued reports on the company. Canaccord Genuity reissued a “buy” rating and set a $53.00 price target (up previously from $35.00) on shares of Smartsheet in a research report on Wednesday, March 20th. DA Davidson assumed coverage on Smartsheet in a research report on Thursday, March 21st. They set a “neutral” rating and a $45.00 price target on the stock. Royal Bank of Canada increased their price target on Smartsheet to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Stephens reissued a “buy” rating and set a $55.00 price target on shares of Smartsheet in a research report on Tuesday, April 23rd. Finally, SunTrust Banks increased their price target on Smartsheet to $56.00 and gave the stock a “positive” rating in a research report on Wednesday, March 20th. They noted that the move was a valuation call. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $51.00.

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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