Traders Buy Large Volume of Put Options on Smartsheet (NYSE:SMAR)
Smartsheet Inc (NYSE:SMAR) was the target of some unusual options trading on Monday. Traders purchased 4,699 put options on the company. This represents an increase of approximately 1,096% compared to the average daily volume of 393 put options.
In other Smartsheet 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 stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Michael Arntz sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $45.26, for a total value of $181,040.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,832,589 shares of company stock valued at $473,052,550. Insiders own 24.73% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of SMAR. BNP Paribas Arbitrage SA grew its position in shares of Smartsheet by 240.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock worth $27,000 after acquiring an additional 466 shares in the last quarter. Optimum Investment Advisors bought a new stake in shares of Smartsheet in the 1st quarter worth approximately $41,000. Meadow Creek Investment Management LLC lifted its holdings in shares of Smartsheet by 76.9% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 1,840 shares of the company’s stock worth $89,000 after purchasing an additional 800 shares during the last quarter. Evolution Wealth Advisors LLC bought a new stake in shares of Smartsheet in the 2nd quarter worth approximately $93,000. Finally, Deutsche Bank AG lifted its holdings in shares of Smartsheet by 290.0% in the 4th quarter. Deutsche Bank AG now owns 3,900 shares of the company’s stock worth $96,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors own 55.10% of the company’s stock.
Shares of SMAR opened at $51.13 on Wednesday. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of -82.47 and a beta of 2.00. The stock has a 50 day moving average of $51.33 and a 200-day moving average of $43.61. 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 $55.79.
Smartsheet (NYSE:SMAR) last issued its 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 company had revenue of $56.19 million during the quarter, compared to analyst estimates of $54.65 million. Smartsheet had a negative return on equity of 34.42% and a negative net margin of 30.04%. The business’s revenue was up 54.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.12) EPS. On average, sell-side analysts predict that Smartsheet will post -0.94 earnings per share for the current fiscal 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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