Smartsheet Inc . (NYSE:SMAR) Chief Legal Officer Jolene Marshall has sold a portion of her company shares, according to a recent regulatory filing. On October 1, Marshall sold 3,571 shares of Class A Common Stock at a price of $55.37 each, totaling approximately $197,726.
The transaction was carried out under a prearranged trading plan set up on April 4, 2024, known as a Rule 10b5-1 plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading.
Following the sale, Marshall still retains 9,958 shares of Smartsheet Inc., indicating a continued investment in the company's future. The sale represents a routine part of an executive's financial planning, and investors often monitor such transactions for insights into insider confidence.
Smartsheet Inc., headquartered in Bellevue, Washington, specializes in services related to prepackaged software, offering collaboration and work management solutions. The company's stock is publicly traded and is watched by investors interested in the technology sector.
As with all insider transactions, the sale by Marshall was disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides transparency on the trades made by company executives and large shareholders.
In other recent news, Smartsheet Inc. has experienced significant developments with an acquisition agreement by private equity firms Blackstone (NYSE:BX) and Vista Equity Partners, valued at approximately $8.4 billion. This deal, which is expected to complete in the fourth quarter of fiscal year 2025, sets the acquisition price at $56.50 per share. The agreement has prompted several analyst firms, including UBS, RBC Capital, and Canaccord Genuity, to adjust their stock ratings and price targets to align with the acquisition price.
In financial highlights, Smartsheet reported a 17% increase in revenue for the second quarter of fiscal year 2025, totaling $276.4 million. The company's annualized recurring revenue also saw a similar rise, reaching $1.093 billion. These are notable developments in the company's financial performance.
Lastly, Smartsheet announced a restructuring in its executive structure, with Chief Operating Officer Stephen Branstetter transitioning to an advisory role. These developments mark a new phase for Smartsheet as it transitions from a public company to a privately held entity under the ownership of Blackstone and Vista Equity Partners.
InvestingPro Insights
To provide additional context to Jolene Marshall's recent stock sale, let's examine some key financial metrics and insights from InvestingPro for Smartsheet Inc. (NYSE:SMAR).
According to InvestingPro data, Smartsheet's market capitalization stands at $7.72 billion, reflecting its significant presence in the prepackaged software industry. The company's revenue for the last twelve months as of Q2 2025 was $1.04 billion, with an impressive revenue growth of 20.16% over the same period. This growth trajectory aligns with an InvestingPro Tip indicating that net income is expected to grow this year.
Smartsheet's gross profit margin is particularly noteworthy at 81.61%, which supports another InvestingPro Tip highlighting the company's impressive gross profit margins. This strong profitability at the gross level suggests that Smartsheet has a solid foundation for potential future earnings growth, despite not being profitable over the last twelve months.
The stock's recent performance has been robust, with a 28.42% price total return over the past three months and a 45.45% return over the last six months. This aligns with an InvestingPro Tip noting the stock's strong return over the last three months and its large price uptick over the last six months. Additionally, the stock is trading near its 52-week high, with its current price at 99.8% of that peak.
These insights provide a broader picture of Smartsheet's financial health and market performance, offering context to Marshall's stock sale. While insider sales can sometimes raise questions, the company's strong revenue growth and market position suggest ongoing potential. Investors considering Smartsheet may find value in exploring the additional 11 InvestingPro Tips available, which could offer further insights into the company's prospects and valuation.
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