BELLEVUE, WA—Marshall Jolene Lau, Chief Legal Officer at Smartsheet Inc . (NYSE:SMAR), recently sold a portion of her holdings in the company, according to a recent SEC filing. On November 15, Lau sold 3,205 shares of Smartsheet's Class A Common Stock at an average price of $55.92 per share, totaling $179,223.
On November 18, Lau also exercised options to acquire a total of 19,694 shares of Class A Common Stock through the vesting of Restricted Stock Units (RSUs). These transactions were executed without any direct cash outlay, as the RSUs were acquired at no cost. Additionally, 7,752 shares were withheld by Smartsheet to cover tax obligations related to the RSU settlements, amounting to $433,026 based on the stock's market value of $55.86 per share.
These transactions were conducted under a Rule 10b5-1 trading plan, which allows insiders to sell a predetermined number of shares at a set time. Following these activities, Lau's direct ownership in Smartsheet stands at 18,695 shares.
In other recent news, Smartsheet Inc. has reported significant developments. The company announced an impressive 17% increase in Q2 revenue for fiscal year 2025, amounting to $276.4 million, along with a similar rise in its annualized recurring revenue, reaching $1.093 billion. Smartsheet has also agreed to an acquisition deal with Blackstone (NYSE:BX) and Vista Equity Partners, a transaction valued at approximately $8.4 billion. This development has led to several changes in stock ratings, with Guggenheim, UBS, Canaccord Genuity (TSX:CF), and JPMorgan (NYSE:JPM) downgrading Smartsheet stock to Neutral, while RBC (TSX:RY) Capital raised its price target to align with the acquisition price of $56.50 per share. In addition, Helen Masters has been appointed as the new Managing Director of the Asia Pacific and Japan region, bringing her extensive tech industry experience to the role. Lastly, Smartsheet's Chief Operating Officer, Stephen Branstetter, has transitioned to an advisory role as part of the company's recent restructuring. These are the latest developments in Smartsheet's ongoing growth and strategic expansion.
InvestingPro Insights
In light of Marshall Jolene Lau's recent stock transactions, it's worth examining Smartsheet's current financial position and market performance. According to InvestingPro data, Smartsheet boasts a market capitalization of $7.78 billion, reflecting its significant presence in the software industry.
The company's revenue growth remains robust, with a 20.16% increase over the last twelve months, reaching $1.04 billion. This growth trajectory aligns with an InvestingPro Tip indicating that net income is expected to grow this year. Moreover, Smartsheet's impressive gross profit margin of 81.61% underscores its operational efficiency, which is crucial for software companies.
Despite not being profitable over the last twelve months, analysts predict that Smartsheet will turn a profit this year, as noted in another InvestingPro Tip. This optimism is further supported by the fact that 9 analysts have revised their earnings upwards for the upcoming period.
Smartsheet's stock has shown strong momentum, with a 32.91% price return over the past six months. The stock is currently trading near its 52-week high, with its price at 98.83% of the peak. This performance suggests investor confidence in the company's prospects, possibly influenced by its solid revenue growth and anticipated profitability.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 11 more InvestingPro Tips available for Smartsheet, providing a deeper understanding of the company's financial health and market position.
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