Smartsheet Inc (NYSE:SMAR) Shares Sold by Brighton Jones LLC

Brighton Jones LLC reduced its holdings in Smartsheet Inc (NYSE:SMAR) by 20.3% during the 4th quarter, Holdings Channel reports. The firm owned 8,211 shares of the company’s stock after selling 2,088 shares during the quarter. Brighton Jones LLC’s holdings in Smartsheet were worth $460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE grew its stake in Smartsheet by 12.9% in the 3rd quarter. US Bancorp DE now owns 1,749 shares of the company’s stock valued at $97,000 after acquiring an additional 200 shares during the period. Landscape Capital Management L.L.C. lifted its holdings in Smartsheet by 0.3% during the third quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock valued at $4,596,000 after purchasing an additional 225 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Smartsheet by 25.5% in the third quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock valued at $62,000 after purchasing an additional 228 shares during the period. Principal Financial Group Inc. increased its stake in shares of Smartsheet by 2.4% during the third quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock worth $639,000 after purchasing an additional 266 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Smartsheet by 2.1% during the 3rd quarter. Larson Financial Group LLC now owns 13,253 shares of the company’s stock worth $734,000 after purchasing an additional 277 shares during the last quarter. 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 3,205 shares of the company’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 represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of Smartsheet stock in a transaction 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 of the company’s stock, valued at $32,439,610.10. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,121 shares of company stock valued at $3,645,543 in the last quarter. Insiders own 4.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SMAR shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $56.50 price objective on shares of Smartsheet in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Finally, Guggenheim cut shares of Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.82.

Smartsheet Stock Performance

Shares of Smartsheet stock opened at $56.47 on Monday. The stock has a 50 day moving average of $56.11 and a 200 day moving average of $53.12. The firm 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 fifty-two week low of $35.52 and a fifty-two week high of $56.55.

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.