Bellevue, Washington— Smart Sheet Co., Ltd. . (NYSE:) President and CEO Mark Mader recently sold 5,000 shares of the company’s Class A common stock, according to a filing with the Securities and Exchange Commission. The stock was sold for $56.05 per share, for a total of $280,250. Following the transaction, Mader now directly owns 578,762 shares.
The transaction was executed pursuant to a Rule 10b5-1 trading plan, which allows insiders to develop a prescribed plan to sell stock. This plan was adopted by Mader on March 27, 2024.
In addition to his direct holdings, Mr. Mader indirectly owns additional shares through trusts, in particular the T49C Trust and the L38 Trust, which hold 51,250 and 40,000 shares, respectively. These shares are managed by Douglas Porter, the Trustee, for the benefit of Mr. Mader’s children. Maker disclaims any beneficial ownership of these securities.
In other recent news, Smartsheet Inc. continues to make significant developments. The company has appointed Helen Masters as its new managing director for Asia Pacific and Japan, with the aim of increasing growth and customer engagement in the region. At the same time, Smartsheet announced acquisition agreements with Blackstone (NYSE:) and Vista Equity Partners. This would be a deal worth approximately $8.4 billion. This development triggered several changes in stock ratings, with UBS downgrading Smartsheet stock from “buy” to “neutral” and RBC Capital raising its price target for Smartsheet.
In terms of financial performance, Smartsheet reported a 17% increase in revenue for the second quarter of fiscal 2025 to a total of $276.4 million, with a similar increase in annual recurring revenue to $1.093 billion. Additionally, as part of the company’s recent reorganization, Smartsheet Chief Operating Officer Stephen Branstetter has transitioned into an advisory role. These developments come as Smartsheet transitions from a public utility to a private company under ownership of Blackstone and Vista Equity.
Investment Pro Insights
Smartsheet Inc. (NYSE:SMAR) has shown strong financial performance, which is consistent with CEO Mark Mader’s recent stock trades. According to InvestingPro data, the company’s revenue increased 20.16% over the past 12 months to $1.04 billion. This growth is complemented by an impressive gross margin of 81.61%, highlighting the efficiency of Smartsheet’s core business operations.
According to InvestingPro Tips, Smartsheet has more cash than debt on its balance sheet, indicating a strong financial position. This strong fundamentals could give investors confidence despite the CEO’s recent stock sale. In addition, nine analysts have revised their earnings forecasts upward for the next fiscal year, suggesting positive expectations for the company’s future performance.
The stock’s recent performance has been noteworthy, with a total price return of 42.78% over the past six months. This upward trend is reflected in the stock trading near its 52-week high, currently sitting at 99.1% of its all-time high. These indicators suggest that the market is reacting positively to Smartsheet’s business development and financial results.
For investors seeking a more comprehensive analysis, InvestingPro provides additional tips and insights. Eleven more InvestingPro Tips are available in Smartsheet to help you better understand your company’s financial health and market position.
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