EverSource Wealth Advisors LLC Buys 472 Shares of Smartsheet Inc (NYSE:SMAR)

EverSource Wealth Advisors LLC raised its stake in Smartsheet Inc (NYSE:SMAR) by 737.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 536 shares of the company’s stock after purchasing an additional 472 shares during the period. EverSource Wealth Advisors LLC’s holdings in Smartsheet were worth $30,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SMAR. SBI Securities Co. Ltd. bought a new stake in shares of Smartsheet in the fourth quarter valued at about $25,000. Fifth Third Bancorp acquired a new position in Smartsheet in the 4th quarter valued at approximately $26,000. Brooklyn Investment Group bought a new stake in shares of Smartsheet in the 3rd quarter worth approximately $28,000. True Wealth Design LLC acquired a new stake in shares of Smartsheet during the 3rd quarter worth approximately $41,000. Finally, Longfellow Investment Management Co. LLC bought a new stake in shares of Smartsheet during the third quarter valued at approximately $48,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total value of $112,360.00. Following the completion of the sale, the insider now owns 17,739 shares in the company, valued at approximately $996,577.02. This trade represents a 10.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Patrick Mader sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.07, for a total transaction of $280,350.00. Following the transaction, the chief executive officer now owns 619,515 shares in the company, valued at $34,736,206.05. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

NYSE:SMAR opened at $56.47 on Friday. The stock has a market capitalization of $7.91 billion, a P/E ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71. Smartsheet Inc has a 1 year low of $36.27 and a 1 year high of $56.55. The firm has a 50 day moving average of $56.46 and a 200-day moving average of $55.55.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Seventeen research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Smartsheet has a consensus rating of “Hold” and an average price target of $57.00.

About Smartsheet

Smartsheet, Inc engages in managing and automating collaborative work. Its platform provides solutions that eliminate the obstacles to capturing information, including a familiar and intuitive spreadsheet interface as well as easily customizable forms. The company was founded by W. Eric Browne, Maria Colacurcio, John D.