Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Smartsheet Inc shares valued at $276,750 were sold by MADER MARK PATRICK on Oct 02 ’24. At $55.35 per share, MADER MARK PATRICK sold 5,000 shares. The insider’s holdings dropped to 583,762 shares worth approximately $32.9 million following the completion of this transaction.
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Also, Marshall Jolene Lau sold 3,571 shares, netting a total of over 197,726 in proceeds. Following the sale of shares at $55.37 each, the insider now holds 9,958 shares.
Before that, MADER MARK PATRICK had added 5,000 shares to its account. In a trade valued at $276,750, the Officer bought Smartsheet Inc shares for $55.35 each.
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 0.84%. Over the course of the year, Smartsheet Inc shares have jumped approximately 17.86%. Shares of the company reached a 52-week high of $56.55 on 10/28/24 and a 52-week low of $35.52 on 03/15/24. A 50-day SMA is recorded $53.29, while a 200-day SMA reached $45.20. Nevertheless, trading volume fell to 1.58 million shares from 1.77 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 56.32, which, if violated, would cause prices to drop to 56.28. In the upper region, resistance lies at 56.42. The next price resistance is at 56.48. RSI (Relative Strength Index) is 70.74 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.27, which suggests the price will decrease in the coming days. Percent R is at 18.27%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
