Alliancebernstein L.P. Acquires 489,321 Shares of Smartsheet Inc (NYSE:SMAR)

Alliancebernstein L.P. grew its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 447.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 598,762 shares of the company’s stock after purchasing an additional 489,321 shares during the quarter. Alliancebernstein L.P. owned about 0.43% of Smartsheet worth $33,549,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SMAR. SBI Securities Co. Ltd. bought a new position in Smartsheet during the fourth quarter valued at about $25,000. Fifth Third Bancorp bought a new position in shares of Smartsheet in the 4th quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its holdings in Smartsheet by 737.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 536 shares of the company’s stock worth $30,000 after purchasing an additional 472 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Smartsheet by 27.5% during the fourth quarter. Venturi Wealth Management LLC now owns 1,549 shares of the company’s stock worth $87,000 after purchasing an additional 334 shares during the period. Finally, IFP Advisors Inc grew its holdings in Smartsheet by 592.2% during the fourth quarter. IFP Advisors Inc now owns 2,381 shares of the company’s stock valued at $133,000 after purchasing an additional 2,037 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Smartsheet Stock Performance

Shares of Smartsheet stock opened at $56.47 on Friday. The firm has a fifty day simple moving average of $56.47 and a 200-day simple moving average of $56.04. The stock 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 1-year low of $36.27 and a 1-year high of $56.55.

Insider Buying and Selling

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 value of $280,350.00. Following the transaction, the chief executive officer now directly owns 619,515 shares in the company, valued at approximately $34,736,206.05. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.52% of the company’s stock.

Smartsheet 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.