Smartsheet Inc (NYSE:SMAR) Receives Consensus Rating of “Hold” from Analysts

Shares of Smartsheet Inc (NYSE:SMAR) have been assigned an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the stock, MarketBeat.com reports. Seventeen research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $56.50.

SMAR has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Guggenheim lowered shares of Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th.

Smartsheet Price Performance

Smartsheet stock opened at $56.47 on Friday. The business has a 50 day simple moving average of $56.35 and a 200 day simple moving average of $54.83. The company has a market capitalization of $7.91 billion, a PE ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71. Smartsheet has a one year low of $35.52 and a one year high of $56.55.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total value of $112,360.00. Following the sale, the insider now directly owns 17,739 shares in the company, valued at approximately $996,577.02. This trade represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Patrick Mader sold 47,916 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $55.96, for a total transaction of $2,681,379.36. Following the completion of the transaction, the chief executive officer now directly owns 624,356 shares of the company’s stock, valued at $34,938,961.76. This trade represents a 7.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,916 shares of company stock valued at $3,186,069. 4.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMAR. SBI Securities Co. Ltd. acquired a new stake in shares of Smartsheet during the fourth quarter worth about $25,000. Fifth Third Bancorp acquired a new stake in shares of Smartsheet in the 4th quarter valued at about $26,000. Brooklyn Investment Group bought a new stake in shares of Smartsheet in the third quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its position in shares of Smartsheet by 737.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 536 shares of the company’s stock worth $30,000 after buying an additional 472 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Smartsheet by 123.2% during the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after buying an additional 398 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

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.