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 business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $56.05, for a total transaction of $280,250.00. Following the completion of the transaction, the chief executive officer now owns 578,762 shares in the company, valued at $32,439,610.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mark Patrick Mader also recently made the following trade(s):

• On Wednesday, October 2nd, Mark Patrick Mader sold 5,000 shares of Smartsheet stock. The shares were sold at an average price of $55.35, for a total transaction of $276,750.00.
• On Thursday, September 19th, Mark Patrick Mader sold 20,000 shares of Smartsheet stock. The shares were sold at an average price of $51.78, for a total value of $1,035,600.00.

Smartsheet Price Performance

SMAR stock opened at $55.96 on Friday. The business’s 50-day moving average is $53.95 and its two-hundred day moving average is $47.04. The firm has a market capitalization of $7.78 billion, a P/E ratio of -180.52 and a beta of 0.74. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55.

Smartsheet (NYSE:SMAR) last issued its earnings results on Thursday, September 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.15. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. The firm had revenue of $276.41 million for the quarter, compared to analysts’ expectations of $274.23 million. During the same quarter last year, the company earned ($0.23) earnings per share. The firm’s revenue was up 17.3% compared to the same quarter last year. On average, analysts expect that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet declared that its board has approved a stock repurchase plan on Thursday, September 5th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on SMAR shares. William Blair restated a “market perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Canaccord Genuity Group lowered shares of Smartsheet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 25th. Barclays increased their target price on shares of Smartsheet from $50.00 to $56.50 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Truist Financial reiterated a “hold” rating and set a $56.50 price target (down from $60.00) on shares of Smartsheet in a research report on Wednesday, September 25th. Finally, 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. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $55.82.

Institutional Trading of Smartsheet

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of Smartsheet by 250.1% in the 1st quarter. SG Americas Securities LLC now owns 15,630 shares of the company’s stock valued at $602,000 after acquiring an additional 11,166 shares during the last quarter. Swiss National Bank increased its stake in Smartsheet by 1.1% in the first quarter. Swiss National Bank now owns 255,700 shares of the company’s stock valued at $9,844,000 after purchasing an additional 2,700 shares during the last quarter. Sei Investments Co. raised its holdings in Smartsheet by 20.3% during the first quarter. Sei Investments Co. now owns 147,306 shares of the company’s stock worth $5,671,000 after purchasing an additional 24,823 shares in the last quarter. Qsemble Capital Management LP lifted its position in shares of Smartsheet by 144.4% during the 1st quarter. Qsemble Capital Management LP now owns 41,098 shares of the company’s stock worth $1,582,000 after buying an additional 24,281 shares during the last quarter. Finally, Motley Fool Asset Management LLC boosted its holdings in shares of Smartsheet by 277.4% in the 1st quarter. Motley Fool Asset Management LLC now owns 271,832 shares of the company’s stock valued at $10,466,000 after buying an additional 199,798 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.