Gries Financial LLC Buys 855 Shares of Smartsheet Inc (NYSE:SMAR)

Gries Financial LLC lifted its stake in shares of Smartsheet Inc (NYSE:SMAR) by 16.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 6,013 shares of the company’s stock after acquiring an additional 855 shares during the period. Gries Financial LLC’s holdings in Smartsheet were worth $337,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Fifth Third Bancorp acquired a new position in Smartsheet in the 4th quarter valued at $26,000. Brooklyn Investment Group bought a new stake in Smartsheet during the third quarter valued at about $28,000. Raleigh Capital Management Inc. acquired a new stake in shares of Smartsheet in the third quarter valued at about $31,000. Waldron Private Wealth LLC bought a new position in shares of Smartsheet in the third quarter worth about $33,000. Finally, Farther Finance Advisors LLC lifted its position in shares of Smartsheet by 123.2% during the 3rd 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 last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Smartsheet Stock Performance

Shares of NYSE:SMAR opened at $56.47 on Friday. The company’s fifty day moving average is $56.15 and its 200-day moving average is $53.40. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $56.55. The company has a market capitalization of $7.91 billion, a PE ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71.

Insider Activity at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 3,205 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $55.92, for a total transaction of $179,223.60. Following the sale, the insider now owns 18,695 shares of the company’s stock, valued at $1,045,424.40. This represents a 14.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $56.05, for a total transaction of $280,250.00. Following the completion of the transaction, the chief executive officer now directly owns 578,762 shares of the company’s stock, valued at approximately $32,439,610.10. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,121 shares of company stock valued at $3,645,543 in the last ninety days. Insiders own 4.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Guggenheim downgraded shares of Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $56.50 price objective on shares of Smartsheet in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.