Los Angeles Capital Management LLC Sells 29,751 Shares of Smartsheet Inc (NYSE:SMAR)

Los Angeles Capital Management LLC lowered its position in Smartsheet Inc (NYSE:SMAR) by 3.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 806,189 shares of the company’s stock after selling 29,751 shares during the period. Los Angeles Capital Management LLC’s holdings in Smartsheet were worth $45,171,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in shares of Smartsheet by 6.2% in the 3rd quarter. State Street Corp now owns 2,492,949 shares of the company’s stock worth $138,010,000 after acquiring an additional 146,353 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Smartsheet by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock worth $123,545,000 after acquiring an additional 52,293 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Smartsheet by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,665 shares of the company’s stock valued at $70,787,000 after buying an additional 20,643 shares in the last quarter. Citigroup Inc. increased its position in Smartsheet by 2,767.1% during the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock valued at $45,589,000 after buying an additional 794,779 shares in the last quarter. Finally, ING Groep NV increased its position in Smartsheet by 109.0% during the 4th quarter. ING Groep NV now owns 727,500 shares of the company’s stock valued at $40,762,000 after buying an additional 379,400 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SMAR shares. Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.82.

Smartsheet Price Performance

SMAR stock opened at $56.47 on Tuesday. The company has a market cap of $7.91 billion, a P/E ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55. The stock’s fifty day moving average price is $56.31 and its 200-day moving average price is $54.67.

Insider Transactions at Smartsheet

In other news, insider Jolene Lau Marshall sold 2,000 shares of the firm’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 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the completion of the transaction, the chief executive officer now owns 619,515 shares in the company, valued at approximately $34,736,206.05. This trade represents a 0.80 % decrease in their ownership of the stock. 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 in the last ninety days. 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.