Blair William & Co. IL Lowers Position in Smartsheet Inc (NYSE:SMAR)

Blair William & Co. IL decreased its position in Smartsheet Inc (NYSE:SMAR) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,902 shares of the company’s stock after selling 9,905 shares during the quarter. Blair William & Co. IL’s holdings in Smartsheet were worth $3,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in Smartsheet by 2.0% during the third quarter. The Manufacturers Life Insurance Company now owns 33,463 shares of the company’s stock worth $1,853,000 after purchasing an additional 661 shares during the period. BNP Paribas Financial Markets increased its stake in Smartsheet by 3.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,359 shares of the company’s stock worth $1,127,000 after buying an additional 654 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Smartsheet during the 3rd quarter worth approximately $1,659,000. MetLife Investment Management LLC boosted its position in Smartsheet by 3.4% in the 3rd quarter. MetLife Investment Management LLC now owns 8,428 shares of the company’s stock valued at $467,000 after buying an additional 280 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Smartsheet by 3.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,307 shares of the company’s stock worth $1,622,000 after acquiring an additional 952 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Smartsheet

In other news, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the completion of the sale, the chief executive officer now directly owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total transaction of $112,360.00. Following the completion of the transaction, the insider now directly owns 17,739 shares in the company, valued at $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 own 4.52% of the company’s stock.

Smartsheet Stock Performance

SMAR stock opened at $56.47 on Tuesday. The stock has a market cap of $7.91 billion, a P/E ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71. Smartsheet Inc has a twelve month low of $36.27 and a twelve month high of $56.55. The company’s 50 day moving average is $56.47 and its two-hundred day moving average is $55.94.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Sixteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $57.00.

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.