Insider Selling: Smartsheet Inc (NYSE:SMAR) Insider Sells $112,360.00 in Stock

Smartsheet Inc (NYSE:SMAR) insider Jolene Lau Marshall sold 2,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 17,739 shares of the company’s stock, valued at $996,577.02. This 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 the SEC website.

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 Trading Up 0.2 %

NYSE:SMAR opened at $56.20 on Monday. The stock’s 50-day moving average is $56.03 and its 200-day moving average is $51.72. The stock has a market cap of $7.87 billion, a P/E ratio of -936.67, a price-to-earnings-growth ratio of 82.24 and a beta of 0.71. Smartsheet Inc has a 1-year low of $35.52 and a 1-year high of $56.55.

Institutional Investors Weigh In On Smartsheet

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE grew its stake in shares of Smartsheet by 12.9% in the third quarter. US Bancorp DE now owns 1,749 shares of the company’s stock worth $97,000 after purchasing an additional 200 shares during the last quarter. Landscape Capital Management L.L.C. lifted its holdings in Smartsheet by 0.3% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock worth $4,596,000 after buying an additional 225 shares during the period. First Horizon Advisors Inc. grew its position in shares of Smartsheet by 25.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock valued at $62,000 after buying an additional 228 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Smartsheet by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock valued at $639,000 after buying an additional 266 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Smartsheet by 2.1% in the third quarter. Larson Financial Group LLC now owns 13,253 shares of the company’s stock valued at $734,000 after buying an additional 277 shares during the period. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SMAR shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.50 target price (down from $60.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Guggenheim cut shares of Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Wolfe Research reissued a “peer perform” rating on shares of Smartsheet in a report on Wednesday, September 25th. Barclays boosted their target price on shares of Smartsheet from $50.00 to $56.50 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Citigroup reissued a “neutral” rating and issued a $56.50 price objective (down from $63.00) on shares of Smartsheet in a research note on Friday, September 27th. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.82.

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.