Smartsheet Inc (NYSE:SMAR) Holdings Lifted by Versor Investments LP

Versor Investments LP increased its stake in shares of Smartsheet Inc (NYSE:SMAR) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,272 shares of the company’s stock after acquiring an additional 1,741 shares during the quarter. Smartsheet comprises approximately 1.1% of Versor Investments LP’s portfolio, making the stock its 9th largest holding. Versor Investments LP’s holdings in Smartsheet were worth $6,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of SMAR. Fifth Third Bancorp acquired a new stake in shares of Smartsheet in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new stake in Smartsheet in the 3rd quarter valued at $28,000. Farther Finance Advisors LLC boosted its stake in 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 purchasing an additional 398 shares during the period. True Wealth Design LLC purchased a new position in Smartsheet during the 3rd quarter worth $41,000. Finally, Longfellow Investment Management Co. LLC acquired a new position in Smartsheet in the third quarter valued at $48,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the completion of the transaction, the chief executive officer now owns 619,515 shares in the company, valued at $34,736,206.05. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jolene Lau Marshall sold 2,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $55.99, for a total transaction of $111,980.00. Following the completion of the sale, the insider now owns 19,739 shares in the company, valued at $1,105,186.61. This represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,916 shares of company stock worth $3,186,069 in the last 90 days. 4.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SMAR. Guggenheim downgraded shares of Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Seventeen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Smartsheet has a consensus rating of “Hold” and a consensus price target of $56.50.

Smartsheet Stock Performance

Smartsheet stock opened at $56.47 on Thursday. The company has a market cap 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 one year low of $35.52 and a one year high of $56.55. The business has a fifty day moving average of $56.33 and a two-hundred day moving average of $54.76.

Smartsheet Company 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.