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.

A number of equities research analysts have weighed in on the company. Stephens restated a “buy” rating and set a $55.00 price objective on shares of Smartsheet in a research note on Tuesday, April 23rd. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective (up previously from $45.00) on shares of Smartsheet in a research note on Thursday, July 11th. Wedbush assumed coverage on Smartsheet in a research note on Thursday, August 1st. They set an “outperform” rating and a $62.00 price objective for the company. Finally, Zacks Investment Research lowered Smartsheet from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Smartsheet currently has a consensus rating of “Buy” and a consensus price target of $53.17.

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.

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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