SharpSpring (SHSP) Cut to “Hold” at ValuEngine

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ValuEngine downgraded shares of SharpSpring (NASDAQ:SHSP) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Shares of NASDAQ SHSP opened at $12.55 on Wednesday. SharpSpring has a twelve month low of $3.94 and a twelve month high of $14.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 5.75 and a quick ratio of 5.75.

In other SharpSpring news, major shareholder Cat Rock Capital Management Lp bought 23,398 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were purchased at an average price of $13.10 per share, for a total transaction of $306,513.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Alan Carlson sold 18,665 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $13.39, for a total value of $249,924.35. The disclosure for this sale can be found here. Insiders bought a total of 181,663 shares of company stock worth $2,409,495 in the last 90 days. Company insiders own 28.34% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SHSP. JPMorgan Chase & Co. boosted its stake in shares of SharpSpring by 587.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,561 shares of the technology company’s stock worth $106,000 after buying an additional 6,461 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of SharpSpring in the 3rd quarter worth approximately $177,000. BlackRock Inc. raised its holdings in shares of SharpSpring by 33.3% in the 2nd quarter. BlackRock Inc. now owns 23,947 shares of the technology company’s stock worth $209,000 after purchasing an additional 5,976 shares during the period. Brasada Capital Management LP bought a new stake in shares of SharpSpring in the 3rd quarter worth approximately $425,000. Finally, Renaissance Technologies LLC bought a new stake in shares of SharpSpring in the 3rd quarter worth approximately $658,000. Hedge funds and other institutional investors own 39.45% of the company’s stock.

About SharpSpring

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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