Oak Thistle LLC Sells 4,243 Shares of Smartsheet Inc (NYSE:SMAR)

Oak Thistle LLC lessened its position in Smartsheet Inc (NYSE:SMAR) by 23.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,238 shares of the company’s stock after selling 4,243 shares during the quarter. Oak Thistle LLC’s holdings in Smartsheet were worth $798,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SMAR. Brooklyn Investment Group purchased a new stake in Smartsheet in the 3rd quarter worth about $28,000. Raleigh Capital Management Inc. bought a new position in shares of Smartsheet during the third quarter valued at approximately $31,000. Waldron Private Wealth LLC purchased a new stake in shares of Smartsheet in the third quarter worth approximately $33,000. Farther Finance Advisors LLC lifted its stake in shares of Smartsheet by 123.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after acquiring an additional 398 shares during the last quarter. Finally, True Wealth Design LLC bought a new stake in shares of Smartsheet during the 3rd quarter worth approximately $41,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on SMAR. UBS Group reaffirmed a “neutral” rating and issued a $56.50 price objective (down previously from $61.00) on shares of Smartsheet in a research report on Thursday, September 26th. Truist Financial restated a “hold” rating and issued a $56.50 price target (down from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. BMO Capital Markets reiterated a “market perform” rating and set a $56.50 price objective (down previously from $59.00) on shares of Smartsheet in a report on Wednesday, September 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.50 target price (down from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Finally, Citigroup reaffirmed a “neutral” rating and set a $56.50 price target (down previously from $63.00) on shares of Smartsheet in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Smartsheet presently has an average rating of “Hold” and an average target price of $55.82.

Smartsheet Trading Down 0.1 %

SMAR opened at $56.31 on Thursday. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of -938.50, a PEG ratio of 82.24 and a beta of 0.71. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $56.55. The stock has a fifty day moving average price of $56.03 and a 200-day moving average price of $52.47.

Insiders Place Their Bets

In other Smartsheet news, insider Jolene Lau Marshall sold 3,205 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $55.92, for a total value of $179,223.60. Following the completion of the sale, the insider now directly owns 18,695 shares in the company, valued at $1,045,424.40. This trade represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.07, for a total value of $280,350.00. Following the sale, the chief executive officer now owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,121 shares of company stock worth $3,645,543. 4.52% of the stock is 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.