BELLEVUE, WA – In a recent transaction on June 11, Stephen Robert Branstetter, the Chief Operating Officer of Smartsheet Inc . (NYSE:SMAR), sold 4,174 shares of the company's Class A common stock, realizing a total of $183,280 from the sale. The shares were sold at a weighted average price of $43.91, with individual transactions ranging from $43.91 to $43.92 per share.
This move has adjusted Branstetter's direct ownership in the company to a total of 68,067 shares of Smartsheet Inc. following the transaction. The details of the sale, including the exact prices and number of shares sold at each price point within the range, have been made available upon request, as noted in the accompanying footnote of the filing.
Smartsheet Inc., headquartered in Bellevue, Washington, is known for its cloud-based platform for work execution, enabling teams and organizations to plan, capture, manage, automate, and report on work at scale.
The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed through this hyperlink. The document was signed by attorney-in-fact Jolene Marshall on behalf of Mr. Branstetter.
Investors and the market often closely monitor the buying and selling activities of corporate insiders as these can provide insights into a company's future prospects or the executives' views on the company's current valuation. However, it is important to consider that trading by executives can be subject to various personal financial strategies and does not always directly indicate the company's operational performance or future potential.
Shares of Smartsheet Inc. are publicly traded, and interested parties can follow the stock's performance and obtain additional information by referencing its ticker symbol NYSE:SMAR.
In other recent news, Smartsheet Inc. has reported a robust start to its fiscal year 2025, with first-quarter revenue increasing 20% year-over-year to $263 million. The company's annualized recurring revenue (ARR) has exceeded the $1 billion mark, reaching $1.056 billion, and its user base has expanded to over 14.7 million. For the second quarter, Smartsheet anticipates revenue between $273 million and $275 million, with non-GAAP operating income projected between $38 million and $40 million.
The full fiscal year revenue is estimated to land between $1.116 billion and $1.121 billion, with non-GAAP operating income predicted to be between $157 million and $167 million. These recent developments follow the company's introduction of a new pricing model and the adoption of AI tools by nearly half of their enterprise customer plans.
Additionally, Smartsheet's outlook for the full fiscal year includes a growth rate of 16% to 17%. The company has also increased its ARR growth forecast for FY'25 to 14% to 14.5%. Finally, Smartsheet has authorized a $150 million share buyback, which is expected to be completed by the end of Q4 FY'25.
InvestingPro Insights
Amidst the recent insider trading activity at Smartsheet Inc. (NYSE:SMAR), investors may be keen to understand the company's financial health and future prospects. With a market capitalization of $5.8 billion, Smartsheet's current financial metrics offer a mixed picture. Despite a negative P/E ratio of -68.2, which suggests that the company is not currently profitable, Smartsheet boasts a robust gross profit margin of 81.14% for the last twelve months as of Q1 2025. This indicates that the company is effective at controlling its cost of goods sold and could be well-positioned to leverage its revenue into profit if it can manage its operating expenses.
Moreover, revenue growth remains strong, with an increase of 22.35% in the last twelve months as of Q1 2025, signaling that the company is expanding its sales effectively. Two particular InvestingPro Tips that are pertinent to the company's outlook include Smartsheet's position of holding more cash than debt on its balance sheet, which provides financial flexibility, and the consensus among analysts that net income is expected to grow this year. These factors could be indicative of a positive shift in the company's trajectory, despite the lack of dividends being paid to shareholders at this time.
For those interested in a deeper dive into Smartsheet's financials and to access a broader range of analysis, InvestingPro offers a multitude of additional tips. Currently, there are 19 analysts who have revised their earnings estimates upwards for the upcoming period, hinting at a potentially optimistic future for the company. To explore these insights and more, visit https://www.investing.com/pro/SMAR and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.