SharpSpring (NASDAQ:SHSP) Trading 8% Higher

SharpSpring Inc (NASDAQ:SHSP) traded up 8% during mid-day trading on Wednesday . The stock traded as high as $15.61 and last traded at $15.17. 118,432 shares traded hands during trading, an increase of 115% from the average session volume of 55,060 shares. The stock had previously closed at $14.04.

Several equities research analysts have recently issued reports on the stock. Craig Hallum cut shares of SharpSpring from a “buy” rating to a “hold” rating and lifted their price objective for the company from $17.00 to $21.00 in a research report on Friday, May 10th. Canaccord Genuity assumed coverage on shares of SharpSpring in a research report on Monday, April 1st. They set a “buy” rating on the stock. National Securities assumed coverage on shares of SharpSpring in a research report on Thursday, May 30th. They set a “buy” rating on the stock. Finally, Lake Street Capital lifted their price objective on shares of SharpSpring to $17.00 and gave the company a “buy” rating in a research report on Thursday, February 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.00.

The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.65.



In related news, CEO Richard Alan Carlson sold 30,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $14.75, for a total value of $442,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Travis Whitton sold 21,079 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $14.95, for a total transaction of $315,131.05. The disclosure for this sale can be found here. Insiders own 28.34% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. North Peak Capital Management LLC acquired a new position in SharpSpring in the 4th quarter valued at $10,240,000. Wasatch Advisors Inc. boosted its holdings in SharpSpring by 52.0% in the first quarter. Wasatch Advisors Inc. now owns 323,554 shares of the technology company’s stock valued at $5,183,000 after purchasing an additional 110,705 shares during the last quarter. Vanguard Group Inc boosted its holdings in SharpSpring by 81.2% in the third quarter. Vanguard Group Inc now owns 224,082 shares of the technology company’s stock valued at $3,142,000 after purchasing an additional 100,408 shares during the last quarter. Vanguard Group Inc. boosted its holdings in SharpSpring by 81.2% in the third quarter. Vanguard Group Inc. now owns 224,082 shares of the technology company’s stock valued at $3,142,000 after purchasing an additional 100,408 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its holdings in SharpSpring by 87.8% in the first quarter. Granite Investment Partners LLC now owns 206,418 shares of the technology company’s stock valued at $3,307,000 after purchasing an additional 96,478 shares during the last quarter. Institutional investors own 42.71% of the company’s stock.

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About SharpSpring (NASDAQ:SHSP)

SharpSpring, Inc operates as a cloud-based marketing technology company worldwide. The company offers SharpSpring, a marketing automation solution for small and mid-size businesses. It markets and sells its products and services through sales teams and third party resellers. The company was formerly known as SMTP, Inc and changed its name to SharpSpring, Inc in December 2015.

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