Smartsheet Inc. [SMAR] stock for 40,451 USD was sold by Godbole Pete

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Smartsheet Inc. shares valued at $40,451 were sold by Godbole Pete on Sep 16. At $36.64 per share, Godbole Pete sold 1,104 shares. The insider’s holdings dropped to 15,874 shares worth approximately $0.54 million following the completion of this transaction.


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Also, Gomez Elena sold 6,250 shares, netting a total of over 232,312 in proceeds. Following the sale of shares at $37.17 each, the insider now holds 6,003 shares.

Before that, Hansen Megan had sold 4,000 shares from its account. In a trade valued at $152,160, the Chief People & Culture Officer traded Smartsheet Inc. shares for $38.04 each. Upon closing the transaction, the insider’s holdings decreased to 4,000 shares, worth approximately $0.14 million.

Analysts at Guggenheim started covering the stock with ‘”a Buy”‘ outlook in a report released in mid August. As of January 06, 2022, Wells Fargo has increased its “an Equal weight” rating to a “an Overweight” for SMAR. Earlier on January 05, 2022, DA Davidson initiated its rating. Their recommendation was “a Buy” for SMAR stock.

Analyzing SMAR’s Price Performance

On Wednesday, Smartsheet Inc. [NYSE: SMAR] plunged -2.70% to $34.29. The stock’s lowest price that day was $34.26, but it reached a high of $35.98 in the same session. During the last five days, there has been a drop of approximately -9.48%. Over the course of the year, Smartsheet Inc. shares have dropped approximately -55.73%. Shares of the company reached a 52-week high of $77.75 on 01/03/22 and a 52-week low of $27.05 on 06/16/22. A 50-day SMA is recorded $34.05, while a 200-day SMA reached $47.32. Nevertheless, trading volume fell to 1.07 million shares from 0.85 million shares the previous day.

Support And Resistance Levels for Smartsheet Inc. (SMAR)

According to the 24-hour chart, there is a support level at 33.71, which, if violated, would cause prices to drop to 33.12. In the upper region, resistance lies at 35.43. The next price resistance is at 36.56. RSI (Relative Strength Index) is 46.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.58, which suggests the price will decrease in the coming days. Percent R is at 60.32%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Smartsheet Inc. subject to short interest?

Stocks of Smartsheet Inc. saw a sharp steep in short interest on Aug 30, 2022 dropping by -0.9 million shares to 3.91 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 4.81 million shares. A decline of -23.02% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.1 of the overall float, the days-to-cover ratio (short ratio) decline to 3.1.

Which companies own the most shares of Smartsheet Inc. (SMAR)?

According to Capital Research & Management Co filings, the company currently owns 15,180,175 shares, which is about 11.73% of the total SMAR shares outstanding. The investor’s shares have plunged by -136,424 from its previous 13-F filing of 15316599.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $374,707,866. Brown Capital Management LLC acquire a 0.27% interest valued at $227.83 million while BlackRock Fund Advisors purchased a 105,962 stake. A total of 142,229 shares of Smartsheet Inc. were bought by North Peak Capital Management LLC during the quarter, and 669,842 were bought by AllianceBernstein LP. In its current portfolio, Dorsey Asset Management LLC holds 3,438,052 shares valued at $114.38 million.

In terms of Smartsheet Inc. share price expectations, FactSet research, analysts set an average price target of $45.46 in the next 12 months, up nearly 27.7% from the previous closing price of $35.24. Analysts anticipate Smartsheet Inc. stock to reach $62.00 by 2022, with the lowest price target being $32.00. In spite of this, 17 analysts ranked Smartsheet Inc. stock as a Buy at the end of 2022. On August 19, 2021, Jefferies assigned a price target of “a Buy” to the stock and upgraded coverage with a $85.

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