Nordea Investment Management AB Acquires 19,563 Shares of Smartsheet Inc (NYSE:SMAR)

Nordea Investment Management AB boosted its stake in Smartsheet Inc (NYSE:SMAR) by 11.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,922 shares of the company’s stock after purchasing an additional 19,563 shares during the period. Nordea Investment Management AB owned about 0.14% of Smartsheet worth $11,031,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Everence Capital Management Inc. acquired a new stake in shares of Smartsheet in the fourth quarter valued at about $236,000. Principal Financial Group Inc. boosted its holdings in Smartsheet by 2.4% in the third quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock valued at $639,000 after acquiring an additional 266 shares during the last quarter. Synovus Financial Corp increased its position in Smartsheet by 4.1% during the 3rd quarter. Synovus Financial Corp now owns 11,854 shares of the company’s stock valued at $656,000 after purchasing an additional 471 shares during the period. Tidal Investments LLC raised its holdings in Smartsheet by 38.4% during the 3rd quarter. Tidal Investments LLC now owns 30,337 shares of the company’s stock worth $1,679,000 after purchasing an additional 8,424 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Smartsheet during the 3rd quarter worth approximately $695,000. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Smartsheet news, insider Jolene Lau Marshall sold 3,205 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $55.92, for a total transaction of $179,223.60. Following the transaction, the insider now directly owns 18,695 shares in the company, valued at approximately $1,045,424.40. This trade represents a 14.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.07, for a total transaction of $280,350.00. Following the completion of the sale, the chief executive officer now owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock worth $3,645,543 in the last quarter. Insiders own 4.52% of the company’s stock.

Analysts Set New Price Targets

SMAR has been the subject of several recent analyst reports. William Blair reiterated a “market perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $56.50 price objective on shares of Smartsheet in a research report on Thursday, October 24th. Wells Fargo & Company restated an “equal weight” rating and set a $57.00 target price on shares of Smartsheet in a research report on Tuesday, September 24th. BMO Capital Markets reiterated a “market perform” rating and issued a $56.50 target price (down from $59.00) on shares of Smartsheet in a report on Wednesday, September 25th. Finally, Citigroup restated a “neutral” rating and set a $56.50 price target (down from $63.00) on shares of Smartsheet in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.82.

Smartsheet Trading Up 0.2 %

Smartsheet stock opened at $56.24 on Thursday. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of -937.33, a price-to-earnings-growth ratio of 82.24 and a beta of 0.71. The firm’s fifty day moving average price is $56.01 and its two-hundred day moving average price is $52.02. Smartsheet Inc has a 1-year low of $35.52 and a 1-year high of $56.55.

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.