Pallas Capital Advisors LLC Has $1.52 Million Stake in Smartsheet Inc (NYSE:SMAR)

Pallas Capital Advisors LLC grew its holdings in Smartsheet Inc (NYSE:SMAR) by 30.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,050 shares of the company’s stock after purchasing an additional 6,263 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Smartsheet were worth $1,516,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. boosted its stake in Smartsheet by 699.9% during the 2nd quarter. American Century Companies Inc. now owns 59,454 shares of the company’s stock valued at $2,621,000 after purchasing an additional 52,021 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Smartsheet by 590.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 18,248 shares of the company’s stock worth $791,000 after buying an additional 15,604 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Smartsheet by 107.3% in the second quarter. Dimensional Fund Advisors LP now owns 831,709 shares of the company’s stock valued at $36,660,000 after acquiring an additional 430,481 shares during the period. Andar Capital Management HK Ltd bought a new stake in shares of Smartsheet in the second quarter valued at approximately $1,984,000. Finally, Amalgamated Bank grew its stake in shares of Smartsheet by 3.5% in the second quarter. Amalgamated Bank now owns 8,678 shares of the company’s stock worth $383,000 after acquiring an additional 294 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SMAR has been the subject of a number of research reports. Barclays increased their price target on shares of Smartsheet from $50.00 to $56.50 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $56.50 target price (down previously from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Citigroup restated a “neutral” rating and set a $56.50 price target (down from $63.00) on shares of Smartsheet in a research note on Friday, September 27th. Canaccord Genuity Group downgraded Smartsheet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.82.

Insider Activity at Smartsheet

In related news, insider Jolene Lau Marshall sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $55.99, for a total value of $111,980.00. Following the completion of the transaction, the insider now owns 19,739 shares in the company, valued at $1,105,186.61. The trade was a 9.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $56.05, for a total value of $280,250.00. Following the completion of the transaction, the chief executive officer now owns 578,762 shares in the company, valued at $32,439,610.10. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,121 shares of company stock valued at $3,645,543 in the last three months. Corporate insiders own 4.52% of the company’s stock.

Smartsheet Trading Down 0.1 %

NYSE:SMAR opened at $56.33 on Tuesday. The stock has a market capitalization of $7.89 billion, a P/E ratio of -938.83, a price-to-earnings-growth ratio of 82.24 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 firm has a 50 day moving average of $56.02 and a 200-day moving average of $52.38.

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.