Smartsheet Inc (NYSE:SMAR) Insider Jolene Lau Marshall Sells 2,000 Shares

Smartsheet Inc (NYSE:SMAR - Get Free Report) insider Jolene Lau Marshall sold 2,000 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $55.99, for a total value of $111,980.00. Following the transaction, the insider now directly owns 19,739 shares in the company, valued at $1,105,186.61. This trade represents a 9.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jolene Lau Marshall also recently made the following trade(s):

• 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 transaction of $179,223.60.
• On Tuesday, October 1st, Jolene Lau Marshall sold 3,571 shares of Smartsheet stock. The shares were sold at an average price of $55.37, for a total transaction of $197,726.27.

Smartsheet Trading Down 0.1 %

Smartsheet stock traded down $0.03 during mid-day trading on Tuesday, hitting $55.96. The company had a trading volume of 4,017,496 shares, compared to its average volume of 2,228,745. The company has a market capitalization of $7.83 billion, a price-to-earnings ratio of -932.67, a P/E/G ratio of 82.24 and a beta of 0.71. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55. The company's fifty day moving average is $56.00 and its 200-day moving average is $50.34.

Smartsheet announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 5th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SMAR. Barclays increased their price objective on shares of Smartsheet from $50.00 to $56.50 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $56.50 price objective (down from $59.00) on shares of Smartsheet in a research report on Wednesday, September 25th. William Blair reissued a "market perform" rating on shares of Smartsheet in a report on Wednesday, September 25th. Needham & Company LLC restated a "hold" rating on shares of Smartsheet in a research note on Friday, December 6th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $56.50 price target (down from $60.00) on shares of Smartsheet in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $55.82.

Hedge Funds Weigh In On Smartsheet

Several hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Smartsheet in the 2nd quarter valued at about $25,000. Brooklyn Investment Group purchased a new stake in shares of Smartsheet in the 3rd quarter worth about $28,000. Raleigh Capital Management Inc. acquired a new stake in shares of Smartsheet in the third quarter valued at approximately $31,000. Waldron Private Wealth LLC acquired a new position in shares of Smartsheet during the 3rd quarter worth approximately $33,000. Finally, First Horizon Advisors Inc. lifted its stake in Smartsheet by 37.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 894 shares of the company's stock valued at $39,000 after buying an additional 244 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.