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 Smartsheet stock in a transaction that occurred on 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 owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. The trade was a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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 %

Shares of Smartsheet stock opened at $56.20 on Friday. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of -936.67, a P/E/G ratio of 82.24 and a beta of 0.71. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $56.55. The company’s fifty day moving average is $56.03 and its 200 day moving average is $51.65.

Institutional Investors Weigh In On Smartsheet

A number of institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in shares of Smartsheet in the third quarter worth approximately $28,000. Raleigh Capital Management Inc. bought a new position in Smartsheet during the 3rd quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new position in shares of Smartsheet in the 2nd quarter worth approximately $25,000. Waldron Private Wealth LLC bought a new stake in shares of Smartsheet in the 3rd quarter valued at $33,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Smartsheet by 123.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock valued at $40,000 after purchasing an additional 398 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SMAR shares. Canaccord Genuity Group cut shares of Smartsheet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Citigroup reaffirmed a “neutral” rating and set a $56.50 price target (down previously from $63.00) on shares of Smartsheet in a report on Friday, September 27th. Barclays lifted their price objective 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.50 target price (down from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Smartsheet has an average rating of “Hold” and a consensus 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.