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 the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total transaction of $112,360.00. Following the completion of the transaction, the insider now owns 17,739 shares of the company’s stock, valued at $996,577.02. This trade represents a 10.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, December 13th, Jolene Lau Marshall sold 2,000 shares of Smartsheet stock. The shares were sold at an average price of $55.99, for a total transaction of $111,980.00.
• 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 value of $179,223.60.

Smartsheet Price Performance

NYSE:SMAR opened at $56.20 on Friday. The company has a market cap of $7.87 billion, a P/E ratio of -936.67, a P/E/G ratio of 82.24 and a beta of 0.71. The firm’s fifty day moving average price is $56.03 and its two-hundred day moving average price is $51.65. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55.

Wall Street Analyst Weigh In

SMAR has been the subject of a number of research reports. Wells Fargo & Company reiterated an “equal weight” rating and set a $57.00 price objective on shares of Smartsheet in a report on Tuesday, September 24th. DA Davidson reiterated a “neutral” rating and issued a $56.50 price objective (up from $55.00) on shares of Smartsheet in a report on Tuesday, September 24th. Canaccord Genuity Group restated a “hold” rating and set a $56.50 target price (down previously from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $56.50 price target (down from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Finally, Truist Financial restated a “hold” rating and set a $56.50 price objective (down from $60.00) on shares of Smartsheet in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Smartsheet has a consensus rating of “Hold” and a consensus target price of $55.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zacks Investment Management acquired a new position in shares of Smartsheet in the third quarter valued at approximately $4,551,000. Verition Fund Management LLC boosted its stake in Smartsheet by 1,149.0% in the 3rd quarter. Verition Fund Management LLC now owns 322,103 shares of the company’s stock valued at $17,832,000 after purchasing an additional 296,314 shares during the period. Maven Securities LTD acquired a new position in Smartsheet in the 3rd quarter valued at $3,875,000. Bank of Montreal Can bought a new position in Smartsheet during the 2nd quarter worth $3,274,000. Finally, New Millennium Group LLC acquired a new stake in shares of Smartsheet during the third quarter worth $1,770,000. 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.