Claro Advisors LLC Invests $266,000 in Smartsheet Inc (NYSE:SMAR)

Claro Advisors LLC acquired a new stake in shares of Smartsheet Inc (NYSE:SMAR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,754 shares of the company’s stock, valued at approximately $266,000.

A number of other hedge funds have also recently bought and sold shares of SMAR. Eminence Capital LP boosted its position in shares of Smartsheet by 9.2% in the second quarter. Eminence Capital LP now owns 4,251,328 shares of the company’s stock worth $187,399,000 after acquiring an additional 358,988 shares during the last quarter. State Street Corp boosted its holdings 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 valued at $138,010,000 after purchasing an additional 146,353 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Smartsheet by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock valued at $123,545,000 after buying an additional 52,293 shares during the period. RGM Capital LLC grew its stake in shares of Smartsheet by 7.6% during the 2nd quarter. RGM Capital LLC now owns 2,223,763 shares of the company’s stock valued at $98,023,000 after buying an additional 156,817 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Smartsheet by 40.9% during the 2nd quarter. Marshall Wace LLP now owns 1,835,994 shares of the company’s stock worth $80,931,000 after buying an additional 533,278 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Smartsheet Trading Down 0.1 %

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

Insider Activity at Smartsheet

In related 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 $1,045,424.40. This trade represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $56.05, for a total transaction of $280,250.00. Following the sale, the chief executive officer now owns 578,762 shares of the company’s stock, 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. Insiders have sold 65,121 shares of company stock valued at $3,645,543 over the last ninety days. Corporate insiders own 4.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SMAR. Jefferies Financial Group reissued a “hold” rating and set a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Wolfe Research reissued a “peer perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. DA Davidson reaffirmed a “neutral” rating and set a $56.50 price target (up from $55.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Canaccord Genuity Group lowered shares of Smartsheet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, Barclays lifted their target price on shares of Smartsheet from $50.00 to $56.50 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. 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.com, Smartsheet has an average rating of “Hold” and an average price target of $55.82.

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.