New York Life Investment Management LLC Acquires New Position in Smartsheet Inc (NYSE:SMAR)

New York Life Investment Management LLC acquired a new stake in Smartsheet Inc (NYSE:SMAR) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 128,454 shares of the company’s stock, valued at approximately $7,197,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE increased its holdings in Smartsheet by 12.9% in the third quarter. US Bancorp DE now owns 1,749 shares of the company’s stock valued at $97,000 after buying an additional 200 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Smartsheet by 2.6% during the fourth quarter. Amalgamated Bank now owns 8,709 shares of the company’s stock valued at $488,000 after purchasing an additional 217 shares during the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of Smartsheet by 0.3% during the third quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock valued at $4,596,000 after purchasing an additional 225 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Smartsheet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 4,242 shares of the company’s stock valued at $238,000 after purchasing an additional 227 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Smartsheet by 25.5% during the third quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock valued at $62,000 after purchasing an additional 228 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Smartsheet news, 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 value of $280,350.00. Following the completion of the sale, the chief executive officer now directly owns 619,515 shares in the company, valued at $34,736,206.05. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 of the company’s stock, valued at $996,577.02. This trade represents a 10.13 % 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 over the last ninety days. Company insiders own 4.52% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Seventeen research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Smartsheet currently has an average rating of “Hold” and an average price target of $56.50.

Smartsheet Price Performance

SMAR opened at $56.47 on Friday. The company has a market capitalization of $7.91 billion, a price-to-earnings 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 $35.52 and a 1-year high of $56.55. The business has a 50 day moving average price of $56.35 and a two-hundred day moving average price of $54.83.

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.