Mark Patrick Mader Sells 5,000 Shares of Smartsheet Inc (NYSE:SMAR) Stock

Smartsheet Inc (NYSE:SMAR) CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $55.35, for a total transaction of $276,750.00. Following the completion of the sale, the chief executive officer now directly owns 583,762 shares in the company, valued at $32,311,226.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mark Patrick Mader also recently made the following trade(s):

• On Thursday, September 19th, Mark Patrick Mader sold 20,000 shares of Smartsheet stock. The shares were sold at an average price of $51.78, for a total transaction of $1,035,600.00.

Smartsheet Price Performance

Shares of NYSE:SMAR opened at $55.53 on Friday. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $55.60. The firm has a market capitalization of $7.68 billion, a P/E ratio of -89.56 and a beta of 0.74. The company’s fifty day moving average price is $50.20 and its 200 day moving average price is $44.15.

Smartsheet (NYSE:SMAR) last posted its earnings results on Thursday, September 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.15. The business had revenue of $276.41 million during the quarter, compared to the consensus estimate of $274.23 million. Smartsheet had a negative return on equity of 4.29% and a negative net margin of 4.07%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) EPS. On average, sell-side analysts anticipate that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet declared that its Board of Directors has approved a share repurchase plan on Thursday, September 5th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating and set a $57.00 target price on shares of Smartsheet in a research note on Tuesday, September 24th. Canaccord Genuity Group downgraded shares of Smartsheet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.50 target price (down from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Wolfe Research reaffirmed a “peer perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. Finally, Citigroup reaffirmed a “neutral” rating and set a $56.50 target price (down from $63.00) on shares of Smartsheet in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Smartsheet has a consensus rating of “Hold” and a consensus target price of $55.82.

Institutional Trading of Smartsheet

Several institutional investors and hedge funds have recently bought and sold shares of SMAR. International Assets Investment Management LLC acquired a new stake in Smartsheet during the 2nd quarter worth $25,000. Banque Cantonale Vaudoise acquired a new stake in Smartsheet during the 1st quarter worth $29,000. Versant Capital Management Inc acquired a new stake in Smartsheet during the 2nd quarter worth $31,000. Plato Investment Management Ltd acquired a new stake in Smartsheet during the 1st quarter worth $35,000. Finally, First Horizon Advisors Inc. boosted its stake in Smartsheet by 37.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock worth $39,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

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.