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 firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.07, for a total value of $280,350.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 stock was 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 stock was sold at an average price of $56.05, for a total transaction of $280,250.00.

Smartsheet Trading Up 0.2 %

SMAR stock traded up $0.09 during trading on Wednesday, hitting $56.24. The company had a trading volume of 3,197,201 shares, compared to its average volume of 2,991,940. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $56.55. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of -937.33, a P/E/G ratio of 82.24 and a beta of 0.71. The business has a 50 day moving average of $56.02 and a 200 day moving average of $51.99.

Wall Street Analyst Weigh In

SMAR has been the topic of a number of recent analyst reports. UBS Group reaffirmed a “neutral” rating and issued a $56.50 target price (down from $61.00) on shares of Smartsheet in a research report on Thursday, September 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $56.50 target price on shares of Smartsheet in a research report on Thursday, October 24th. Truist Financial reaffirmed a “hold” rating and set a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a research report on Wednesday, September 25th. Canaccord Genuity Group reissued a “hold” rating and issued a $56.50 price objective (down from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $57.00 price target on shares of Smartsheet in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.82.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SMAR. Brooklyn Investment Group bought a new position in shares of Smartsheet during the 3rd quarter valued at about $28,000. Raleigh Capital Management Inc. purchased a new stake in shares of Smartsheet during the third quarter valued at $31,000. Waldron Private Wealth LLC purchased a new position in Smartsheet in the 3rd quarter worth about $33,000. Farther Finance Advisors LLC lifted its stake in Smartsheet by 123.2% during the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock valued at $40,000 after buying an additional 398 shares in the last quarter. Finally, True Wealth Design LLC acquired a new position in shares of Smartsheet in the third quarter worth about $41,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

About Smartsheet

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.