Smartsheet Inc (NYSE:SMAR) Insider Jolene Lau Marshall Sells 2,000 Shares of Stock

Smartsheet Inc (NYSE:SMAR) insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $55.99, for a total value of $111,980.00. Following the completion of the sale, the insider now owns 19,739 shares of the company’s stock, valued at approximately $1,105,186.61. The trade was a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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 transaction 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 transaction of $197,726.27.

Smartsheet Price Performance

SMAR opened at $55.96 on Thursday. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of -932.67, a P/E/G ratio of 82.24 and a beta of 0.71. The business’s 50-day moving average price is $56.02 and its two-hundred day moving average price is $50.51. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55.

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

Institutional Investors Weigh In On Smartsheet

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in shares of Smartsheet by 188.0% in the second quarter. AQR Capital Management LLC now owns 1,349,639 shares of the company’s stock valued at $58,844,000 after purchasing an additional 881,004 shares during the last quarter. Citigroup Inc. increased its stake in Smartsheet by 2,767.1% in the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock valued at $45,589,000 after buying an additional 794,779 shares during the last quarter. Polar Asset Management Partners Inc. bought a new stake in Smartsheet during the 3rd quarter worth about $39,029,000. Engaged Capital LLC acquired a new position in shares of Smartsheet during the 2nd quarter worth about $29,600,000. Finally, Marshall Wace LLP grew its holdings in shares of Smartsheet by 40.9% in the 2nd quarter. Marshall Wace LLP now owns 1,835,994 shares of the company’s stock valued at $80,931,000 after acquiring an additional 533,278 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on SMAR shares. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $57.00 target price on shares of Smartsheet in a report on Tuesday, September 24th. Jefferies Financial Group reissued a “hold” rating and issued a $56.50 target price (down previously from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Barclays upped their price target on Smartsheet from $50.00 to $56.50 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Citigroup restated a “neutral” rating and set a $56.50 price objective (down previously from $63.00) on shares of Smartsheet in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently 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.