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 stock in a transaction 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 sale, the insider now owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. This trade represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $55.92, for a total value of $179,223.60.

Smartsheet Stock Up 0.2 %

SMAR stock 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. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $56.55. The firm has a market capitalization of $7.87 billion, a PE ratio of -936.67, a P/E/G ratio of 82.24 and a beta of 0.71.

Hedge Funds Weigh In On Smartsheet

Several large investors have recently bought and sold shares of SMAR. US Bancorp DE grew its stake in shares of Smartsheet by 12.9% in the 3rd quarter. US Bancorp DE now owns 1,749 shares of the company’s stock worth $97,000 after acquiring an additional 200 shares in the last quarter. Landscape Capital Management L.L.C. boosted its holdings in Smartsheet by 0.3% during the third quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock worth $4,596,000 after purchasing an additional 225 shares during the last quarter. First Horizon Advisors Inc. grew its position in Smartsheet by 25.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock worth $62,000 after purchasing an additional 228 shares in the last quarter. Principal Financial Group Inc. increased its stake in 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 Smartsheet by 2.1% in the 3rd 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 last quarter. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on SMAR shares. William Blair restated a “market perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Guggenheim cut Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. UBS Group reiterated a “neutral” rating and issued a $56.50 price objective (down previously from $61.00) on shares of Smartsheet in a research note on Thursday, September 26th. Truist Financial reissued a “hold” rating and set a $56.50 target price (down from $60.00) on shares of Smartsheet in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $57.00 price target on shares of Smartsheet in a research note on Tuesday, September 24th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.