Ironwood Investment Management LLC Purchases 183 Shares of Smartsheet Inc (NYSE:SMAR)

Ironwood Investment Management LLC increased its holdings in Smartsheet Inc (NYSE:SMAR) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,635 shares of the company’s stock after purchasing an additional 183 shares during the period. Ironwood Investment Management LLC’s holdings in Smartsheet were worth $652,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp increased its position in shares of Smartsheet by 6.2% during the 3rd quarter. State Street Corp now owns 2,492,949 shares of the company’s stock valued at $138,010,000 after purchasing an additional 146,353 shares during the last quarter. Geode Capital Management LLC increased its position in Smartsheet by 2.4% during the third quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock valued at $123,545,000 after acquiring an additional 52,293 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Smartsheet by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,282,883 shares of the company’s stock valued at $71,880,000 after acquiring an additional 4,218 shares during the period. Picton Mahoney Asset Management raised its stake in shares of Smartsheet by 10.4% in the fourth quarter. Picton Mahoney Asset Management now owns 945,500 shares of the company’s stock valued at $52,976,000 after acquiring an additional 88,759 shares during the period. Finally, Citigroup Inc. lifted its holdings in shares of Smartsheet by 2,767.1% in the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock worth $45,589,000 after acquiring an additional 794,779 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Smartsheet Stock Performance

SMAR opened at $56.47 on Friday. The business’s fifty day simple moving average is $56.43 and its 200-day simple moving average is $55.34. The company 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. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Seventeen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.50.

Insiders Place Their Bets

In other news, CEO Mark Patrick Mader sold 47,916 shares of Smartsheet stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total value of $2,681,379.36. Following the transaction, the chief executive officer now directly owns 624,356 shares in the company, valued at approximately $34,938,961.76. This trade represents a 7.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction 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 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 have sold a total of 54,916 shares of company stock worth $3,074,089 in the last three months. Corporate insiders own 4.52% of the company’s stock.

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.