Smartsheet Inc (NYSE:SMAR) Insider Sells $197,726.27 in Stock

Smartsheet Inc (NYSE:SMAR) insider Jolene Lau Marshall sold 3,571 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $55.37, for a total value of $197,726.27. Following the transaction, the insider now directly owns 9,958 shares of the company’s stock, valued at $551,374.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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 value of $180,656.89.
• On Thursday, August 15th, Jolene Lau Marshall sold 3,741 shares of Smartsheet stock. The stock was sold at an average price of $48.18, for a total value of $180,241.38.
• On Friday, July 5th, Jolene Lau Marshall sold 3,994 shares of Smartsheet stock. The stock was sold at an average price of $43.11, for a total value of $172,181.34.

Smartsheet Trading Up 0.1 %

Smartsheet stock opened at $55.53 on Friday. The firm has a 50 day moving average of $50.20 and a 200 day moving average of $44.15. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of -89.56 and a beta of 0.74. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $55.60.

Smartsheet (NYSE:SMAR) last released its earnings results on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.15. The company had revenue of $276.41 million during the quarter, compared to analyst estimates of $274.23 million. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.23) EPS. On average, analysts predict that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet announced that its Board of Directors has initiated a share repurchase plan on Thursday, September 5th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in Smartsheet in the second quarter worth $25,000. Banque Cantonale Vaudoise purchased a new position in Smartsheet in the first quarter valued at about $29,000. Versant Capital Management Inc purchased a new position in Smartsheet in the second quarter valued at about $31,000. Plato Investment Management Ltd purchased a new position in Smartsheet in the first quarter valued at about $35,000. Finally, First Horizon Advisors Inc. grew its stake in Smartsheet by 37.5% in the second quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock valued at $39,000 after purchasing an additional 244 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SMAR has been the subject of several recent analyst reports. UBS Group reissued a “neutral” rating and issued a $56.50 target price (down previously from $61.00) on shares of Smartsheet in a research report on Thursday, September 26th. Wolfe Research restated a “peer perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Morgan Stanley raised their target price on shares of Smartsheet from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Canaccord Genuity Group cut shares of Smartsheet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 25th. Finally, Needham & Company LLC restated a “hold” rating and issued a $57.00 target price on shares of Smartsheet in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average 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.