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 sold by MADER MARK PATRICK on Sep 19 ’24. At $51.78 per share, MADER MARK PATRICK sold 20,000 shares. The insider’s holdings dropped to 588,762 shares worth approximately $32.58 million following the completion of this transaction.
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Also, MADER MARK PATRICK purchased 20,000 shares, netting a total of over 1,035,600 in proceeds.
Before that, Branstetter Stephen Robert had sold 1,847 shares from its account. In a trade valued at $97,891, the Chief Operating Officer traded Smartsheet Inc shares for $53.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,847 shares, worth approximately $3.55 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 8.90%. Over the course of the year, Smartsheet Inc shares have jumped approximately 15.70%. Shares of the company reached a 52-week high of $55.60 on 09/25/24 and a 52-week low of $35.52 on 03/15/24. A 50-day SMA is recorded $49.29, while a 200-day SMA reached $44.09. Nevertheless, trading volume fell to 18.99 million shares from 24.06 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 55.28, which, if violated, would cause prices to drop to 55.24. In the upper region, resistance lies at 55.41. The next price resistance is at 55.50. RSI (Relative Strength Index) is 70.01 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.95, which suggests the price will increase in the coming days. Percent R is at 4.80%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
