Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Smartsheet Inc shares valued at $219,268 were sold by Branstetter Stephen Robert on Mar 27 ’24. At $38.22 per share, Branstetter Stephen Robert sold 5,737 shares. The insider’s holdings dropped to 67,801 shares worth approximately $2.62 million following the completion of this transaction.
Also, Arntz Michael sold 7,702 shares, netting a total of over 303,767 in proceeds. Following the sale of shares at $39.44 each, the insider now holds 12,718 shares.
Before that, Arntz Michael had sold 225 shares from its account. In a trade valued at $10,134, the Chief Revenue Officer traded Smartsheet Inc shares for $45.04 each. Upon closing the transaction, the insider’s holdings decreased to 225 shares, worth approximately $0.28 million.
As published in their initiating research note from KeyBanc Capital Markets on March 21, 2024, Smartsheet Inc [SMAR] has been a Sector weight. Analysts at BMO Capital Markets resumed the stock at ‘”an Outperform”‘ outlook in a report released in mid March. As of February 26, 2024, BofA Securities has initiated its “an Underperform” rating for SMAR. Earlier on January 11, 2024, Citigroup upgraded its rating. Their new recommendation was “a Buy” for SMAR stock which previously was a “a Neutral”.
Analyzing SMAR Stock Performance
During the last five days, there has been a surge of approximately 1.55%. Over the course of the year, Smartsheet Inc shares have dropped approximately -19.09%. Shares of the company reached a 52-week high of $49.42 on 01/12/24 and a 52-week low of $35.52 on 03/15/24. A 50-day SMA is recorded $41.59, while a 200-day SMA reached $42.16. Nevertheless, trading volume fell to 1.39 million shares from 1.95 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 38.32, which, if violated, would cause prices to drop to 37.95. In the upper region, resistance lies at 39.04. The next price resistance is at 39.39. RSI (Relative Strength Index) is 43.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.30, which suggests the price will decrease in the coming days. Percent R is at 51.74%, 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 rise in short interest on Mar 15, 2024 jumping by 10000.0 shares to 2.79 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.78 million shares. A jump of 0.36% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.57 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.57.
