Jolene Lau Marshall Sells 3,205 Shares of Smartsheet Inc (NYSE:SMAR) Stock

Smartsheet Inc (NYSE:SMARGet Free Report) insider Jolene Lau Marshall sold 3,205 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $55.92, for a total transaction of $179,223.60. Following the sale, the insider now owns 18,695 shares of the company’s stock, valued at $1,045,424.40. This trade represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Jolene Lau Marshall also recently made the following trade(s):

  • On Tuesday, October 1st, Jolene Lau Marshall sold 3,571 shares of Smartsheet stock. The shares were sold at an average price of $55.37, for a total transaction of $197,726.27.
  • On Friday, September 13th, Jolene Lau Marshall sold 3,571 shares of Smartsheet stock. The stock was sold at an average price of $50.59, for a total transaction of $180,656.89.

Smartsheet Price Performance

SMAR stock traded up $0.03 during midday trading on Tuesday, hitting $55.89. The company’s stock had a trading volume of 2,042,572 shares, compared to its average volume of 2,205,387. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $56.55. The company’s fifty day moving average price is $54.99 and its 200 day moving average price is $48.10. The stock has a market capitalization of $7.77 billion, a P/E ratio of -179.83 and a beta of 0.74.

Smartsheet (NYSE:SMARGet Free Report) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.15. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. The company had revenue of $276.41 million during the quarter, compared to the consensus estimate of $274.23 million. During the same quarter last year, the firm posted ($0.23) EPS. The company’s quarterly revenue was up 17.3% on a year-over-year basis. Equities analysts expect that Smartsheet Inc will post -0.05 EPS for the current fiscal year.

Smartsheet announced that its Board of Directors has approved a stock repurchase program on Thursday, September 5th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SMAR shares. Wolfe Research reissued a “peer perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. Canaccord Genuity Group reissued a “hold” rating and set a $56.50 price target (down from $60.00) on shares of Smartsheet in a research note on Wednesday, September 25th. William Blair reissued a “market perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. Guggenheim cut shares of Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating and set a $57.00 price target on shares of Smartsheet in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.82.

View Our Latest Research Report on Smartsheet

Institutional Trading of Smartsheet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB bought a new stake in Smartsheet in the 1st quarter valued at about $38,388,000. AQR Capital Management LLC boosted its holdings in Smartsheet by 188.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,349,639 shares of the company’s stock valued at $58,844,000 after purchasing an additional 881,004 shares during the period. Citigroup Inc. boosted its holdings in Smartsheet by 2,767.1% in the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock valued at $45,589,000 after purchasing an additional 794,779 shares during the period. Polar Asset Management Partners Inc. bought a new stake in Smartsheet in the 3rd quarter valued at about $39,029,000. Finally, Engaged Capital LLC acquired a new position in shares of Smartsheet in the 2nd quarter valued at approximately $29,600,000. Institutional investors own 90.01% of the company’s stock.

Smartsheet Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Smartsheet (NYSE:SMAR)

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