Smartsheet Inc (NYSE:SMAR) CEO Sells $280,350.00 in Stock

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 transaction of $280,350.00. Following the sale, the chief executive officer now directly owns 619,515 shares in the company, valued at $34,736,206.05. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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 shares were sold at an average price of $55.96, for a total value of $2,681,379.36.
• On Monday, November 4th, Mark Patrick Mader sold 5,000 shares of Smartsheet stock. The shares were sold at an average price of $56.05, for a total value of $280,250.00.

Smartsheet Price Performance

SMAR stock opened at $56.24 on Friday. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $56.55. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of -937.33, a PEG ratio of 82.24 and a beta of 0.71. The business’s fifty day moving average price is $56.01 and its two-hundred day moving average price is $52.05.

Wall Street Analysts Forecast Growth

SMAR has been the subject of several recent analyst reports. Guggenheim downgraded Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Canaccord Genuity Group cut shares of Smartsheet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. BMO Capital Markets restated a “market perform” rating and set a $56.50 price objective (down from $59.00) on shares of Smartsheet in a research note on Wednesday, September 25th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $57.00 target price on shares of Smartsheet in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $55.82.

Hedge Funds Weigh In On Smartsheet

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

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.