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

Smartsheet Inc (NYSE:SMAR) insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total value of $112,360.00. Following the completion of the sale, the insider now directly owns 17,739 shares in the company, valued at $996,577.02. The trade was a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value 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 Stock Performance

Shares of Smartsheet stock opened at $56.20 on Friday. The company has a 50-day simple moving average of $56.03 and a two-hundred day simple moving average of $51.65. The stock has a market capitalization of $7.87 billion, a PE ratio of -936.67, a price-to-earnings-growth ratio of 82.24 and a beta of 0.71. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $56.55.

Wall Street Analysts Forecast Growth

SMAR has been the subject of several research reports. Citigroup restated 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. Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Barclays lifted their price objective on Smartsheet from $50.00 to $56.50 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Wolfe Research reiterated a “peer perform” rating on shares of Smartsheet in a report on Wednesday, September 25th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $56.50 target price (down previously from $59.00) 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.com, the company presently has an average rating of “Hold” and an average target price of $55.82.

Hedge Funds Weigh In On Smartsheet

A number of hedge funds have recently added to or reduced their stakes in SMAR. International Assets Investment Management LLC bought a new stake in shares of Smartsheet in the 2nd quarter worth $25,000. Brooklyn Investment Group purchased a new stake in shares of Smartsheet during the third quarter valued at $28,000. Raleigh Capital Management Inc. purchased a new position in Smartsheet in the 3rd quarter worth about $31,000. Waldron Private Wealth LLC bought a new position in Smartsheet during the 3rd quarter valued at about $33,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Smartsheet by 123.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock valued at $40,000 after acquiring an additional 398 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

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.