ING Groep NV Has $40.76 Million Position in Smartsheet Inc (NYSE:SMAR)

ING Groep NV grew its stake in Smartsheet Inc (NYSE:SMARFree Report) by 109.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 727,500 shares of the company’s stock after buying an additional 379,400 shares during the period. ING Groep NV’s holdings in Smartsheet were worth $40,762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Zacks Investment Management purchased a new stake in Smartsheet in the third quarter worth $4,551,000. Verition Fund Management LLC increased its holdings in shares of Smartsheet by 1,149.0% in the third quarter. Verition Fund Management LLC now owns 322,103 shares of the company’s stock worth $17,832,000 after buying an additional 296,314 shares during the period. Maven Securities LTD purchased a new position in Smartsheet during the 3rd quarter valued at about $3,875,000. FNY Investment Advisers LLC boosted its position in Smartsheet by 1,399.7% during the 4th quarter. FNY Investment Advisers LLC now owns 75,254 shares of the company’s stock valued at $4,216,000 after acquiring an additional 70,236 shares in the last quarter. Finally, Syquant Capital Sas bought a new stake in shares of Smartsheet in the 4th quarter worth approximately $15,428,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SMAR shares. Guggenheim lowered shares of Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $56.50 price objective on shares of Smartsheet in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.82.

Read Our Latest Stock Report on Smartsheet

Insider Activity

In other news, CEO Mark Patrick Mader sold 47,916 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 624,356 shares in the company, valued at approximately $34,938,961.76. This represents a 7.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $55.99, for a total transaction of $111,980.00. Following the completion of the sale, the insider now directly owns 19,739 shares in the company, valued at $1,105,186.61. This represents a 9.20 % 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 over the last 90 days. Insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

SMAR stock opened at $56.47 on Thursday. The company has a market cap of $7.91 billion, a P/E ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71. The company’s 50-day moving average price is $56.27 and its 200 day moving average price is $54.35. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $56.55.

Smartsheet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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