Smartsheet Inc (NYSE:SMAR) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC lifted its holdings in Smartsheet Inc (NYSE:SMAR) by 144.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,086 shares of the company’s stock after purchasing an additional 10,105 shares during the period. AlphaQuest LLC’s holdings in Smartsheet were worth $957,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Smartsheet by 6.2% in the third quarter. State Street Corp now owns 2,492,949 shares of the company’s stock valued at $138,010,000 after purchasing an additional 146,353 shares in the last quarter. Geode Capital Management LLC grew its holdings in Smartsheet by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock worth $123,545,000 after acquiring an additional 52,293 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Smartsheet by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,282,883 shares of the company’s stock worth $71,880,000 after acquiring an additional 4,218 shares in the last quarter. Citigroup Inc. grew its holdings in Smartsheet by 2,767.1% during the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock worth $45,589,000 after acquiring an additional 794,779 shares in the last quarter. Finally, ING Groep NV grew its holdings in Smartsheet by 109.0% during the 4th quarter. ING Groep NV now owns 727,500 shares of the company’s stock worth $40,762,000 after acquiring an additional 379,400 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Smartsheet Price Performance

SMAR stock opened at $56.47 on Tuesday. The company has a market cap of $7.91 billion, a price-to-earnings ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $56.55. The company has a fifty day moving average price of $56.40 and a 200 day moving average price of $55.23.

Insiders Place Their Bets

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 shares were sold at an average price of $55.96, for a total transaction of $2,681,379.36. Following the completion of the transaction, the chief executive officer now owns 624,356 shares in the company, valued at approximately $34,938,961.76. This represents a 7.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total transaction of $112,360.00. Following the transaction, the insider now owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. The trade was a 10.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,916 shares of company stock worth $3,186,069. 4.52% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.