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 that occurred on Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total transaction of $112,360.00. Following the completion of the transaction, the insider now directly owns 17,739 shares in the company, valued at $996,577.02. This trade represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 stock was sold at an average price of $55.92, for a total value of $179,223.60.

Smartsheet Stock Up 0.2 %

NYSE SMAR traded up $0.14 during trading hours on Friday, hitting $56.20. 3,033,238 shares of the company were exchanged, compared to its average volume of 2,884,769. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of -936.67, a PEG ratio of 82.24 and a beta of 0.71. The company has a 50 day moving average of $56.03 and a two-hundred day moving average of $51.65. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $56.55.

Smartsheet announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 5th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SMAR. Morgan Stanley boosted their price target on shares of Smartsheet from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Wolfe Research reiterated a “peer perform” rating on shares of Smartsheet in a report on Wednesday, September 25th. William Blair reiterated a “market perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Finally, Barclays lifted their target price on Smartsheet from $50.00 to $56.50 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $55.82.

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.