Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Smartsheet Inc shares valued at $1,035,600 were purchased by MADER MARK PATRICK on Sep 19 ’24. At $51.78 per share, MADER MARK PATRICK acquired 20,000 shares.
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Also, Branstetter Stephen Robert sold 1,847 shares, netting a total of over 97,891 in proceeds. Following the sale of shares at $53.00 each, the insider now holds 64,215 shares.
Before that, Marshall Jolene Lau had sold 3,571 shares from its account. In a trade valued at $180,657, the Chief Legal Officer traded Smartsheet Inc shares for $50.59 each. Upon closing the transaction, the insider’s holdings decreased to 3,571 shares, worth approximately $0.69 million.
As published in a research note from BMO Capital Markets on September 06, 2024, Smartsheet Inc [SMAR] has been retained to an Outperform and the price target has been revised to $59. Analysts at KeyBanc Capital Markets started covering the stock with ‘”a Sector weight”‘ outlook in a report released in late March. As of March 11, 2024, BMO Capital Markets has reiterated its “an Outperform” rating for SMAR. Earlier on February 26, 2024, BofA Securities initiated its rating. Their recommendation was “an Underperform” for SMAR stock.
Analyzing SMAR Stock Performance
During the last five days, there has been a surge of approximately 0.49%. Over the course of the year, Smartsheet Inc shares have jumped approximately 6.25%. Shares of the company reached a 52-week high of $54.50 on 09/16/24 and a 52-week low of $35.52 on 03/15/24. A 50-day SMA is recorded $48.33, while a 200-day SMA reached $43.86. Nevertheless, trading volume fell to 3.17 million shares from 2.56 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 50.24, which, if violated, would cause prices to drop to 49.68. In the upper region, resistance lies at 51.71. The next price resistance is at 52.62. RSI (Relative Strength Index) is 54.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.73, which suggests the price will decrease in the coming days. Percent R is at 42.07%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
