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

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

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 stock was sold at an average price of $55.96, for a total value of $2,681,379.36.
• On Monday, November 4th, Mark Patrick Mader sold 5,000 shares of Smartsheet stock. The shares were sold at an average price of $56.05, for a total value of $280,250.00.

Smartsheet Price Performance

NYSE:SMAR opened at $56.24 on Friday. The business’s 50-day simple moving average is $56.01 and its 200-day simple moving average is $52.05. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $56.55. The stock has a market capitalization of $7.87 billion, a PE ratio of -937.33, a price-to-earnings-growth ratio of 82.24 and a beta of 0.71.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SMAR. Canaccord Genuity Group cut Smartsheet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 25th. UBS Group reiterated a “neutral” rating and set a $56.50 price target (down previously from $61.00) on shares of Smartsheet in a research report on Thursday, September 26th. DA Davidson restated a “neutral” rating and issued a $56.50 price objective (up from $55.00) on shares of Smartsheet in a report on Tuesday, September 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $57.00 target price on shares of Smartsheet in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.82.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC increased its position in shares of Smartsheet by 188.0% during the second quarter. AQR Capital Management LLC now owns 1,349,639 shares of the company’s stock worth $58,844,000 after acquiring an additional 881,004 shares in the last quarter. Citigroup Inc. boosted its stake in Smartsheet by 2,767.1% in the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock worth $45,589,000 after purchasing an additional 794,779 shares during the period. Polar Asset Management Partners Inc. bought a new position in Smartsheet during the 3rd quarter worth about $39,029,000. Engaged Capital LLC acquired a new stake in shares of Smartsheet in the 2nd quarter valued at about $29,600,000. Finally, Marshall Wace LLP lifted its holdings in shares of Smartsheet by 40.9% in the second quarter. Marshall Wace LLP now owns 1,835,994 shares of the company’s stock valued at $80,931,000 after purchasing an additional 533,278 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

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.