Insider Selling: Smartsheet Inc (NYSE:SMAR) Insider Sells 3,994 Shares of Stock

Smartsheet Inc (NYSE:SMARGet Free Report) insider Jolene Lau Marshall sold 3,994 shares of Smartsheet stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $43.11, for a total value of $172,181.34. Following the sale, the insider now directly owns 16,567 shares in the company, valued at $714,203.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Smartsheet Price Performance

Smartsheet stock traded down $0.76 during mid-day trading on Tuesday, hitting $42.97. The stock had a trading volume of 1,105,147 shares, compared to its average volume of 1,531,212. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $49.42. The stock has a 50-day simple moving average of $41.11 and a two-hundred day simple moving average of $42.13.

Smartsheet (NYSE:SMARGet Free Report) last issued its quarterly earnings results on Wednesday, June 5th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. The company had revenue of $262.98 million during the quarter, compared to analysts’ expectations of $258.06 million. As a group, research analysts anticipate that Smartsheet Inc will post -0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on SMAR. UBS Group raised their target price on Smartsheet from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Barclays lifted their price objective on Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, June 6th. Canaccord Genuity Group upped their target price on shares of Smartsheet from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. KeyCorp began coverage on shares of Smartsheet in a report on Thursday, March 21st. They set a “sector weight” rating for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Smartsheet from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Check Out Our Latest Stock Analysis on Smartsheet

Hedge Funds Weigh In On Smartsheet

Several institutional investors and hedge funds have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC bought a new position in shares of Smartsheet during the 3rd quarter valued at about $708,000. Lazard Asset Management LLC increased its position in shares of Smartsheet by 52.8% during the third quarter. Lazard Asset Management LLC now owns 9,612 shares of the company’s stock worth $387,000 after acquiring an additional 3,321 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Smartsheet during the third quarter worth $1,041,000. Tudor Investment Corp Et Al lifted its position in Smartsheet by 327.6% in the 3rd quarter. Tudor Investment Corp Et Al now owns 157,348 shares of the company’s stock valued at $6,366,000 after acquiring an additional 120,553 shares in the last quarter. Finally, Comerica Bank bought a new stake in Smartsheet in the 3rd quarter valued at $7,555,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Smartsheet Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Smartsheet (NYSE:SMAR)

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