Smartsheet Inc (NYSE:SMAR) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division cut its stake in shares of Smartsheet Inc (NYSE:SMAR) by 86.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,290 shares of the company’s stock after selling 26,347 shares during the period. Moody National Bank Trust Division’s holdings in Smartsheet were worth $240,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SMAR. Brooklyn Investment Group acquired a new stake in Smartsheet in the third quarter valued at $28,000. Raleigh Capital Management Inc. acquired a new position in shares of Smartsheet during the 3rd quarter worth about $31,000. Waldron Private Wealth LLC purchased a new position in shares of Smartsheet in the 3rd quarter valued at about $33,000. Farther Finance Advisors LLC lifted its stake in Smartsheet by 123.2% during the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after purchasing an additional 398 shares during the last quarter. Finally, True Wealth Design LLC purchased a new stake in Smartsheet during the third quarter worth approximately $41,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $55.99, for a total transaction of $111,980.00. Following the completion of the transaction, the insider now owns 19,739 shares in the company, valued at approximately $1,105,186.61. The trade was a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Patrick Mader sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $56.05, for a total value of $280,250.00. Following the completion of the sale, the chief executive officer now directly owns 578,762 shares in the company, valued at approximately $32,439,610.10. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 65,121 shares of company stock worth $3,645,543. Company insiders own 4.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SMAR. Jefferies Financial Group reiterated a “hold” rating and issued a $56.50 price target (down from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. BMO Capital Markets reiterated a “market perform” rating and set a $56.50 price target (down from $59.00) on shares of Smartsheet in a research note on Wednesday, September 25th. Canaccord Genuity Group reissued a “hold” rating and issued a $56.50 price target (down from $60.00) on shares of Smartsheet in a research report on Wednesday, September 25th. UBS Group reiterated a “neutral” rating and set a $56.50 target price (down previously from $61.00) on shares of Smartsheet in a research report on Thursday, September 26th. Finally, Guggenheim cut Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Smartsheet presently has an average rating of “Hold” and a consensus target price of $55.82.

Smartsheet Stock Down 0.1 %

Shares of NYSE SMAR opened at $56.31 on Thursday. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of -938.50, a price-to-earnings-growth ratio of 82.24 and a beta of 0.71. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $56.55. The firm has a 50-day moving average price of $56.03 and a 200 day moving average price of $52.47.

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.