Freestone Capital Holdings LLC Decreases Stake in Smartsheet Inc (NYSE:SMAR)

Freestone Capital Holdings LLC cut its stake in shares of Smartsheet Inc (NYSE:SMAR) by 33.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,109 shares of the company’s stock after selling 3,060 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Smartsheet were worth $342,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Smartsheet in the 4th quarter worth $25,000. Fifth Third Bancorp acquired a new position in shares of Smartsheet in the fourth quarter valued at about $26,000. Brooklyn Investment Group purchased a new position in shares of Smartsheet in the third quarter worth about $28,000. Farther Finance Advisors LLC lifted its holdings in shares of 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 period. Finally, True Wealth Design LLC acquired a new stake in shares of Smartsheet during the third quarter worth about $41,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Smartsheet Stock Performance

NYSE SMAR opened at $56.47 on Friday. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $56.55. The stock has a 50-day moving average of $56.39 and a 200 day moving average of $55.10. The stock 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.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SMAR shares. Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Guggenheim lowered shares of Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Seventeen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Smartsheet presently has a consensus rating of “Hold” and an average price target of $56.50.

Insider Transactions at Smartsheet

In related news, CEO Mark Patrick Mader sold 47,916 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $55.96, for a total value of $2,681,379.36. Following the transaction, the chief executive officer now directly owns 624,356 shares of the company’s stock, valued at approximately $34,938,961.76. This trade represents a 7.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total value of $112,360.00. Following the completion of the sale, the insider now owns 17,739 shares in the company, valued at approximately $996,577.02. The trade was a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,916 shares of company stock valued at $3,186,069 in the last three months. 4.52% of the stock is currently owned by company insiders.

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.