Smartsheet Inc (NYSE:SMAR) Given Consensus Recommendation of “Hold” by Analysts

Smartsheet Inc (NYSE:SMAR) has earned a consensus recommendation of “Hold” from the twenty research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seventeen have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $55.82.

A number of equities analysts have recently commented on SMAR shares. Guggenheim cut Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $56.50 price target on shares of Smartsheet in a report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th.

Insiders Place Their Bets

In other news, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total transaction of $112,360.00. Following the transaction, the insider now directly owns 17,739 shares of the company’s stock, valued at $996,577.02. The trade was a 10.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Patrick Mader sold 47,916 shares of Smartsheet 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 transaction, the chief executive officer now owns 624,356 shares in the company, valued at approximately $34,938,961.76. This trade represents a 7.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,121 shares of company stock worth $3,365,293. Company insiders own 4.52% of the company’s stock.

Institutional Investors Weigh In On Smartsheet

Large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Smartsheet during the 4th quarter worth approximately $25,000. Fifth Third Bancorp bought a new stake in shares of Smartsheet in the fourth quarter valued at about $26,000. Brooklyn Investment Group bought a new stake in Smartsheet during the 3rd quarter valued at $28,000. EverSource Wealth Advisors LLC lifted 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 valued at $30,000 after buying an additional 472 shares during the last quarter. Finally, Raleigh Capital Management Inc. acquired a new stake in Smartsheet in the third quarter valued at approximately $31,000. 90.01% of the stock is owned by institutional investors.

Smartsheet Stock Performance

Shares of Smartsheet stock opened at $56.47 on Tuesday. The company has a 50 day moving average of $56.21 and a 200-day moving average of $53.91. The company has a market cap 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 1-year low of $35.52 and a 1-year high of $56.55.

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.