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

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

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 stock was sold at an average price of $56.05, for a total value of $280,250.00.

Smartsheet Trading Up 0.3 %

Shares of SMAR opened at $56.37 on Friday. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55. The stock has a market cap of $7.89 billion, a P/E ratio of -939.50, a price-to-earnings-growth ratio of 82.24 and a beta of 0.71. The stock’s 50-day moving average price is $56.01 and its two-hundred day moving average price is $52.16.

Hedge Funds Weigh In On Smartsheet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMAR. AQR Capital Management LLC boosted its holdings in 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 buying an additional 881,004 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Smartsheet by 2,767.1% during the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock valued at $45,589,000 after purchasing an additional 794,779 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Smartsheet during the 3rd quarter valued at about $39,029,000. Engaged Capital LLC bought a new position in shares of Smartsheet during the 2nd quarter valued at about $29,600,000. Finally, Marshall Wace LLP lifted its holdings in shares of Smartsheet by 40.9% during the 2nd 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.

Analyst Ratings Changes

SMAR has been the subject of a number of research reports. Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Canaccord Genuity Group lowered Smartsheet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Wolfe Research restated a “peer perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. Finally, UBS Group restated a “neutral” rating and issued a $56.50 target price (down from $61.00) on shares of Smartsheet in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.