Smartsheet Inc (NYSE:SMAR) Shares Purchased by Gries Financial LLC

Gries Financial LLC raised its position in Smartsheet Inc (NYSE:SMAR) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,013 shares of the company’s stock after acquiring an additional 855 shares during the quarter. Gries Financial LLC’s holdings in Smartsheet were worth $337,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SMAR. Fifth Third Bancorp purchased a new position in shares of Smartsheet during the 4th quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new stake in Smartsheet in the third quarter valued at $28,000. Raleigh Capital Management Inc. acquired a new stake in Smartsheet in the third quarter valued at $31,000. Waldron Private Wealth LLC bought a new position in Smartsheet during the 3rd quarter valued at $33,000. Finally, Farther Finance Advisors LLC grew its holdings 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 acquiring an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Smartsheet

In related news, CEO Mark Patrick Mader sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 578,762 shares of the company’s stock, valued at $32,439,610.10. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 19,739 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders sold 65,121 shares of company stock worth $3,645,543. Company insiders own 4.52% of the company’s stock.

Smartsheet Price Performance

Smartsheet stock opened at $56.47 on Friday. The firm has a 50-day moving average price of $56.15 and a two-hundred day moving average price of $53.40. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $56.55. The firm 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SMAR shares. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Guggenheim downgraded Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $56.50 price target on shares of Smartsheet in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $55.82.

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.