Smartsheet Inc (NYSE:SMAR) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in shares of Smartsheet Inc (NYSE:SMAR) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,235,855 shares of the company’s stock after acquiring an additional 365,851 shares during the period. Vanguard Group Inc. owned 10.17% of Smartsheet worth $797,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMAR. Zacks Investment Management purchased a new stake in shares of Smartsheet during the third quarter worth about $4,551,000. Verition Fund Management LLC raised its holdings in Smartsheet by 1,149.0% in the 3rd quarter. Verition Fund Management LLC now owns 322,103 shares of the company’s stock valued at $17,832,000 after acquiring an additional 296,314 shares during the last quarter. Maven Securities LTD purchased a new position in shares of Smartsheet during the 3rd quarter worth $3,875,000. FNY Investment Advisers LLC boosted its holdings in shares of Smartsheet by 1,399.7% during the fourth quarter. FNY Investment Advisers LLC now owns 75,254 shares of the company’s stock worth $4,216,000 after purchasing an additional 70,236 shares during the last quarter. Finally, Syquant Capital Sas purchased a new stake in shares of Smartsheet in the fourth quarter valued at $15,428,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Sixteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.00.

Smartsheet Price Performance

Shares of NYSE SMAR opened at $56.47 on Friday. Smartsheet Inc has a 1-year low of $36.27 and a 1-year high of $56.55. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71. The business has a 50-day moving average of $56.47 and a 200-day moving average of $55.87.

Insider Buying and Selling

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

Smartsheet Profile

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.