Mark Patrick Mader Sells 40,000 Shares of Smartsheet Inc (NYSE:SMAR) Stock

Smartsheet Inc (NYSE:SMAR) insider Mark Patrick Mader sold 40,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $44.62, for a total transaction of $1,784,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Thursday, June 6th, Mark Patrick Mader sold 30,000 shares of Smartsheet stock. The shares were sold at an average price of $45.00, for a total transaction of $1,350,000.00.
  • On Monday, May 13th, Mark Patrick Mader sold 40,000 shares of Smartsheet stock. The shares were sold at an average price of $40.63, for a total transaction of $1,625,200.00.
  • On Wednesday, April 10th, Mark Patrick Mader sold 30,000 shares of Smartsheet stock. The shares were sold at an average price of $38.16, for a total transaction of $1,144,800.00.

NYSE:SMAR traded up $2.02 on Wednesday, reaching $45.60. 11,552,802 shares of the company’s stock were exchanged, compared to its average volume of 1,456,762. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.81 and a quick ratio of 1.81. The firm has a market capitalization of $4.80 billion, a PE ratio of -73.55 and a beta of 2.15. Smartsheet Inc has a 52-week low of $20.34 and a 52-week high of $49.04.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings results on Wednesday, June 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.15. The company had revenue of $56.19 million for the quarter, compared to analyst estimates of $54.65 million. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 33.97%. The business’s revenue for the quarter was up 54.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) earnings per share. Analysts expect that Smartsheet Inc will post -1 EPS for the current fiscal year.

Several analysts recently issued reports on SMAR shares. Oppenheimer started coverage on shares of Smartsheet in a report on Thursday, April 4th. They issued an “outperform” rating and a $50.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of Smartsheet to $53.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Morgan Stanley boosted their price objective on shares of Smartsheet from $34.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Jefferies Financial Group boosted their price objective on shares of Smartsheet from $38.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Smartsheet from $33.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $51.18.

A number of large investors have recently modified their holdings of the business. Marshall Wace North America L.P. increased its stake in Smartsheet by 451.9% during the first quarter. Marshall Wace North America L.P. now owns 13,942 shares of the company’s stock worth $569,000 after purchasing an additional 11,416 shares during the period. Clearbridge Investments LLC increased its stake in Smartsheet by 65.1% during the first quarter. Clearbridge Investments LLC now owns 420,761 shares of the company’s stock worth $17,163,000 after purchasing an additional 165,893 shares during the period. FMR LLC increased its stake in Smartsheet by 754,292.5% during the first quarter. FMR LLC now owns 1,214,572 shares of the company’s stock worth $49,542,000 after purchasing an additional 1,214,411 shares during the period. 12 West Capital Management LP increased its stake in Smartsheet by 25.1% during the first quarter. 12 West Capital Management LP now owns 1,356,490 shares of the company’s stock worth $55,331,000 after purchasing an additional 271,740 shares during the period. Finally, Kayak Investment Partners LLC increased its stake in Smartsheet by 18.2% during the first quarter. Kayak Investment Partners LLC now owns 390,928 shares of the company’s stock worth $15,946,000 after purchasing an additional 60,101 shares during the period. Institutional investors own 57.17% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Mark Patrick Mader Sells 40,000 Shares of Smartsheet Inc (NYSE:SMAR) Stock” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2019/06/12/mark-patrick-mader-sells-40000-shares-of-smartsheet-inc-nysesmar-stock.html.

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.

Read More: Options Trading – What is a Straddle?

Insider Buying and Selling by Quarter for Smartsheet (NYSE:SMAR)

Receive News & Ratings for Smartsheet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smartsheet and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply