Smartsheet Inc (NYSE:SMAR) Insider Sells $111,980.00 in Stock

Smartsheet Inc (NYSE:SMAR) insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $55.99, for a total transaction of $111,980.00. Following the transaction, the insider now owns 19,739 shares in the company, valued at $1,105,186.61. This represents a 9.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, November 15th, Jolene Lau Marshall sold 3,205 shares of Smartsheet stock. The shares were sold at an average price of $55.92, for a total value of $179,223.60.
• On Tuesday, October 1st, Jolene Lau Marshall sold 3,571 shares of Smartsheet stock. The stock was sold at an average price of $55.37, for a total value of $197,726.27.

Smartsheet Trading Up 0.1 %

Shares of SMAR opened at $56.00 on Friday. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $56.55. The firm has a fifty day simple moving average of $56.03 and a 200 day simple moving average of $50.55. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of -933.33, a PEG ratio of 82.24 and a beta of 0.71.

Smartsheet declared that its board has approved a share buyback program on Thursday, September 5th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SMAR shares. Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. DA Davidson reaffirmed a “neutral” rating and issued a $56.50 price objective (up previously from $55.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Wolfe Research reissued a “peer perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. UBS Group restated a “neutral” rating and issued a $56.50 price target (down previously from $61.00) on shares of Smartsheet in a research report on Thursday, September 26th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $57.00 price objective on shares of Smartsheet in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $55.82.

Hedge Funds Weigh In On Smartsheet

Several hedge funds have recently modified their holdings of SMAR. Brooklyn Investment Group acquired a new position in Smartsheet during the third quarter valued at approximately $28,000. Raleigh Capital Management Inc. acquired a new stake in shares of Smartsheet in the 3rd quarter valued at approximately $31,000. International Assets Investment Management LLC bought a new position in shares of Smartsheet in the second quarter valued at $25,000. Waldron Private Wealth LLC acquired a new position in Smartsheet during the third quarter worth $33,000. Finally, Farther Finance Advisors LLC raised its position in Smartsheet by 123.2% during the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after acquiring an additional 398 shares in the last quarter. 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.