Smartsheet Inc (NYSE:SMAR) CFO Pete Godbole Sells 7,244 Shares

Smartsheet Inc (NYSE:SMAR) CFO Pete Godbole sold 7,244 shares of Smartsheet stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $41.22, for a total transaction of $298,597.68. Following the transaction, the chief financial officer now owns 30,786 shares in the company, valued at approximately $1,268,998.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Pete Godbole also recently made the following trade(s):

• On Thursday, June 13th, Pete Godbole sold 7,500 shares of Smartsheet stock. The stock was sold at an average price of $43.54, for a total value of $326,550.00.
• On Wednesday, May 15th, Pete Godbole sold 5,202 shares of Smartsheet stock. The shares were sold at an average price of $41.92, for a total value of $218,067.84.
• On Thursday, April 11th, Pete Godbole sold 10,129 shares of Smartsheet stock. The stock was sold at an average price of $38.67, for a total value of $391,688.43.

Smartsheet Stock Up 3.5 %

Shares of SMAR stock opened at $42.69 on Monday. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $49.42. The firm’s 50-day simple moving average is $39.86 and its two-hundred day simple moving average is $42.31.

Hedge Funds Weigh In On Smartsheet

Several institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in shares of Smartsheet during the 1st quarter valued at $29,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Smartsheet during the fourth quarter valued at about $33,000. Plato Investment Management Ltd bought a new position in Smartsheet during the first quarter worth about $35,000. Allworth Financial LP increased its stake in shares of Smartsheet by 2,503.4% in the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after purchasing an additional 726 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in shares of Smartsheet by 24.6% in the first quarter. Advisors Asset Management Inc. now owns 1,822 shares of the company’s stock worth $70,000 after purchasing an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. DA Davidson lowered their price target on shares of Smartsheet from $65.00 to $55.00 and set a “buy” rating for the company in a report on Friday, March 15th. Morgan Stanley lifted their target price on shares of Smartsheet from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, June 6th. Needham & Company LLC reissued a “buy” rating and issued a $57.00 price objective on shares of Smartsheet in a research report on Thursday, June 6th. Bank of America started coverage on Smartsheet in a research report on Monday, February 26th. They set an “underperform” rating and a $45.00 target price on the stock. Finally, Jefferies Financial Group lowered their price objective on shares of Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.75.

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.