Smartsheet Inc (NYSE:SMAR) CEO Sells $280,350.00 in Stock

Smartsheet Inc (NYSE:SMAR) CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.07, for a total value of $280,350.00. Following the completion of the sale, the chief executive officer now directly owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. The trade was a 0.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, December 17th, Mark Patrick Mader sold 47,916 shares of Smartsheet stock. The shares were sold at an average price of $55.96, for a total value of $2,681,379.36.
• On Monday, November 4th, Mark Patrick Mader sold 5,000 shares of Smartsheet stock. The shares were sold at an average price of $56.05, for a total value of $280,250.00.

Smartsheet Trading Up 0.3 %

Shares of NYSE SMAR opened at $56.37 on Friday. The business has a fifty day simple moving average of $56.01 and a 200 day simple moving average of $52.16. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of -939.50, a PEG ratio of 82.24 and a beta of 0.71. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Zacks Investment Management acquired a new position in shares of Smartsheet in the third quarter valued at $4,551,000. Verition Fund Management LLC raised its stake in shares of Smartsheet by 1,149.0% in the third quarter. Verition Fund Management LLC now owns 322,103 shares of the company’s stock valued at $17,832,000 after purchasing an additional 296,314 shares in the last quarter. Maven Securities LTD acquired a new position in shares of Smartsheet in the third quarter valued at $3,875,000. Bank of Montreal Can acquired a new position in shares of Smartsheet in the second quarter valued at $3,274,000. Finally, New Millennium Group LLC acquired a new position in Smartsheet during the third quarter worth $1,770,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SMAR has been the subject of a number of recent analyst reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Citigroup reaffirmed a “neutral” rating and set a $56.50 target price (down previously from $63.00) on shares of Smartsheet in a research report on Friday, September 27th. Guggenheim cut Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Finally, UBS Group reaffirmed a “neutral” rating and set a $56.50 target price (down previously from $61.00) on shares of Smartsheet in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.82.

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.