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

Smartsheet Inc (NYSE:SMAR) CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the transaction, the chief executive officer now owns 619,515 shares in the company, valued at approximately $34,736,206.05. This represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $55.96, for a total transaction of $2,681,379.36.
• On Monday, November 4th, Mark Patrick Mader sold 5,000 shares of Smartsheet stock. The stock was sold at an average price of $56.05, for a total value of $280,250.00.

Smartsheet Price Performance

Shares of NYSE:SMAR opened at $56.24 on Thursday. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $56.55. The business has a 50-day moving average of $56.01 and a two-hundred day moving average of $52.02. The stock has a market capitalization of $7.87 billion, a P/E ratio of -937.33, a P/E/G ratio of 82.24 and a beta of 0.71.

Hedge Funds Weigh In On Smartsheet

Large investors have recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in Smartsheet in the 3rd quarter worth approximately $28,000. Raleigh Capital Management Inc. acquired a new stake in shares of Smartsheet during the 3rd quarter worth approximately $31,000. Waldron Private Wealth LLC bought a new stake in shares of Smartsheet during the third quarter valued at approximately $33,000. Farther Finance Advisors LLC lifted its position in Smartsheet by 123.2% in the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after purchasing an additional 398 shares during the period. Finally, True Wealth Design LLC bought a new position in shares of Smartsheet during the 3rd quarter worth about $41,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SMAR. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.50 price objective (down from $60.00) on shares of Smartsheet in a report on Tuesday, September 24th. DA Davidson reissued a “neutral” rating and issued a $56.50 target price (up previously from $55.00) on shares of Smartsheet in a research report on Tuesday, September 24th. UBS Group reiterated a “neutral” rating and issued a $56.50 price target (down from $61.00) on shares of Smartsheet in a research note on Thursday, September 26th. Wells Fargo & Company reissued an “equal weight” rating and issued a $57.00 price target on shares of Smartsheet in a report on Tuesday, September 24th. Finally, Citigroup reissued a “neutral” rating and set a $56.50 target price (down previously from $63.00) on shares of Smartsheet in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Smartsheet currently has a consensus rating of “Hold” and an average 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.