7,009 Shares in Smartsheet Inc (NYSE:SMAR) Bought by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC purchased a new stake in shares of Smartsheet Inc (NYSE:SMAR) during the 4th quarter, HoldingsChannel reports. The firm purchased 7,009 shares of the company’s stock, valued at approximately $394,000.

Several other large investors have also added to or reduced their stakes in SMAR. Fifth Third Bancorp acquired a new position in shares of Smartsheet in the 4th quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in shares of Smartsheet in the 3rd quarter valued at about $28,000. Raleigh Capital Management Inc. acquired a new position in shares of Smartsheet in the 3rd quarter valued at about $31,000. Waldron Private Wealth LLC acquired a new position in shares of Smartsheet in the 3rd quarter valued at about $33,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Smartsheet by 123.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock valued at $40,000 after buying an additional 398 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Smartsheet Stock Performance

Shares of Smartsheet stock opened at $56.47 on Tuesday. 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. The stock has a 50 day moving average of $56.17 and a 200 day moving average of $53.62.

Insider Buying and Selling

In other Smartsheet news, CEO Mark Patrick Mader sold 47,916 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total transaction of $2,681,379.36. Following the transaction, the chief executive officer now directly owns 624,356 shares in the company, valued at $34,938,961.76. This represents a 7.13 % 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, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $55.99, for a total value of $111,980.00. Following the transaction, the insider now owns 19,739 shares in the company, valued at $1,105,186.61. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,121 shares of company stock worth $3,365,293. Company insiders own 4.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $56.50 price objective on shares of Smartsheet in a report on Thursday, October 24th. Finally, Guggenheim cut Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. One investment 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $55.82.

About Smartsheet

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.