ING Groep NV Boosts Stock Position in Smartsheet Inc (NYSE:SMAR)

ING Groep NV lifted its position in Smartsheet Inc (NYSE:SMAR) by 109.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 727,500 shares of the company’s stock after purchasing an additional 379,400 shares during the quarter. ING Groep NV owned 0.52% of Smartsheet worth $40,762,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SMAR. Fifth Third Bancorp bought a new position in shares of Smartsheet in the 4th quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in Smartsheet during the 3rd quarter valued at $28,000. Raleigh Capital Management Inc. purchased a new position in shares of Smartsheet in the 3rd quarter worth $31,000. Waldron Private Wealth LLC purchased a new position in shares of Smartsheet in the 3rd quarter worth $33,000. Finally, Farther Finance Advisors LLC raised its holdings in Smartsheet by 123.2% in 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. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SMAR. Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $56.50 price target on shares of Smartsheet in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.82.

Insider Activity at Smartsheet

In other news, CEO Mark Patrick Mader sold 5,000 shares of Smartsheet stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.07, for a total transaction of $280,350.00. Following the transaction, the chief executive officer now owns 619,515 shares in the company, valued at $34,736,206.05. The trade was a 0.80 % decrease in their position. 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 Smartsheet 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 sale, the insider now directly owns 19,739 shares in the company, valued at approximately $1,105,186.61. This represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,916 shares of company stock worth $3,186,069 over the last 90 days. Insiders own 4.52% of the company’s stock.

Smartsheet Price Performance

Shares of SMAR stock opened at $56.47 on Thursday. The firm has a 50-day moving average price of $56.27 and a 200 day moving average price of $54.35. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55. The company has a market capitalization of $7.91 billion, a P/E ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71.

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.