Smartsheet Inc (NYSE:SMAR) CEO Mark Patrick Mader Sells 5,000 Shares

Smartsheet Inc (NYSE:SMAR) CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the completion of the sale, the chief executive officer now directly owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 shares were sold at an average price of $55.96, for a total transaction 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 value of $280,250.00.

Smartsheet Trading Up 0.2 %

Shares of Smartsheet stock traded up $0.09 during trading on Wednesday, reaching $56.24. The company’s stock had a trading volume of 3,197,201 shares, compared to its average volume of 2,991,940. The stock has a 50-day moving average price of $56.02 and a two-hundred day moving average price of $51.99. The stock has a market capitalization of $7.87 billion, a P/E ratio of -937.33, a price-to-earnings-growth ratio of 82.24 and a beta of 0.71. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Canaccord Genuity Group downgraded Smartsheet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. DA Davidson restated a “neutral” rating and issued a $56.50 price target (up from $55.00) on shares of Smartsheet in a research report on Tuesday, September 24th. William Blair restated a “market perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Finally, Barclays upped their target price on shares of Smartsheet from $50.00 to $56.50 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.82.

Hedge Funds Weigh In On Smartsheet

Institutional investors have recently modified their holdings of the stock. Eminence Capital LP lifted its holdings in Smartsheet by 9.2% in the second quarter. Eminence Capital LP now owns 4,251,328 shares of the company’s stock valued at $187,399,000 after buying an additional 358,988 shares during the period. State Street Corp lifted its stake in shares of Smartsheet by 6.2% in the 3rd quarter. State Street Corp now owns 2,492,949 shares of the company’s stock valued at $138,010,000 after purchasing an additional 146,353 shares during the period. Geode Capital Management LLC boosted its position in shares of Smartsheet by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock worth $123,545,000 after purchasing an additional 52,293 shares during the last quarter. RGM Capital LLC boosted its position in shares of Smartsheet by 7.6% in the 2nd quarter. RGM Capital LLC now owns 2,223,763 shares of the company’s stock worth $98,023,000 after purchasing an additional 156,817 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Smartsheet by 40.9% during the second quarter. Marshall Wace LLP now owns 1,835,994 shares of the company’s stock worth $80,931,000 after purchasing an additional 533,278 shares during the period. 90.01% of the stock is owned by 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.