Smartsheet Inc (NYSE:SMAR) Shares Bought by AlphaQuest LLC

AlphaQuest LLC boosted its position in shares of Smartsheet Inc (NYSE:SMAR) by 144.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,086 shares of the company’s stock after buying an additional 10,105 shares during the quarter. AlphaQuest LLC’s holdings in Smartsheet were worth $957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Smartsheet during the fourth quarter valued at $25,000. Fifth Third Bancorp acquired a new stake in Smartsheet during the fourth quarter valued at $26,000. Brooklyn Investment Group acquired a new stake in Smartsheet during the third quarter valued at $28,000. Farther Finance Advisors LLC grew its position in Smartsheet by 123.2% during the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock valued at $40,000 after buying an additional 398 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Smartsheet in the third quarter valued at about $41,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Smartsheet news, CEO Mark Patrick Mader sold 47,916 shares of Smartsheet stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $55.96, for a total transaction of $2,681,379.36. Following the transaction, the chief executive officer now directly owns 624,356 shares of the company’s stock, valued at $34,938,961.76. The trade was a 7.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total transaction of $112,360.00. Following the transaction, the insider now directly owns 17,739 shares in the company, 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 have sold 56,916 shares of company stock valued at $3,186,069 over the last ninety days. Company insiders own 4.52% of the company’s stock.

Smartsheet Price Performance

Shares of SMAR stock opened at $56.47 on Tuesday. The firm’s 50-day moving average is $56.40 and its two-hundred day moving average is $55.23. 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 PE ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71.

About Smartsheet

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.