Jolene Lau Marshall Sells 3,205 Shares of Smartsheet Inc (NYSE:SMAR) Stock

Smartsheet Inc (NYSE:SMAR) insider Jolene Lau Marshall sold 3,205 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $55.92, for a total value of $179,223.60. Following the transaction, the insider now owns 18,695 shares in the company, valued at approximately $1,045,424.40. This trade represents a 14.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 stock was sold at an average price of $55.37, for a total value 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 Stock Performance

Shares of SMAR traded up $0.03 during mid-day trading on Tuesday, hitting $55.89. 2,042,572 shares of the company’s stock were exchanged, compared to its average volume of 2,205,387. The company has a market cap of $7.77 billion, a price-to-earnings ratio of -179.83 and a beta of 0.74. The stock’s 50-day moving average is $54.99 and its 200-day moving average is $48.10. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $56.55.

Smartsheet (NYSE:SMAR) last announced its earnings results on Thursday, September 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.15. Smartsheet had a negative return on equity of 4.29% and a negative net margin of 4.07%. The company had revenue of $276.41 million for the quarter, compared to the consensus estimate of $274.23 million. During the same period last year, the business posted ($0.23) EPS. The company’s revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts anticipate that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet declared that its board has approved a share buyback plan on Thursday, September 5th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. William Blair reaffirmed a “market perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Jefferies Financial Group restated a “hold” rating and set a $56.50 price objective (down from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Morgan Stanley lifted their target price on Smartsheet from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $56.50 price objective (down from $63.00) on shares of Smartsheet in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company. According to MarketBeat, Smartsheet presently has a consensus rating of “Hold” and a consensus target price of $55.82.

Institutional Investors Weigh In On Smartsheet

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in Smartsheet by 2.4% during the third quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock worth $123,545,000 after acquiring an additional 52,293 shares during the period. Vestcor Inc acquired a new stake in shares of Smartsheet in the third quarter valued at $3,928,000. Barclays PLC boosted its stake in shares of Smartsheet by 197.3% during the 3rd quarter. Barclays PLC now owns 537,408 shares of the company’s stock worth $29,749,000 after acquiring an additional 356,624 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Smartsheet by 71.8% during the third quarter. Public Employees Retirement System of Ohio now owns 83,060 shares of the company’s stock valued at $4,598,000 after buying an additional 34,723 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in Smartsheet during the 3rd quarter worth approximately $333,000. Institutional investors and hedge funds 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.