Smartsheet Inc (NYSE:SMAR – Get 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 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
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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