Skandinaviska Enskilda Banken AB publ Boosts Stock Position in Smartsheet Inc (NYSE:SMAR)

Skandinaviska Enskilda Banken AB publ increased its stake in Smartsheet Inc (NYSE:SMAR) by 300.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,000 shares of the company’s stock after buying an additional 30,000 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Smartsheet were worth $2,241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SMAR. Citigroup Inc. lifted its position in Smartsheet by 2,767.1% in the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock valued at $45,589,000 after acquiring an additional 794,779 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in Smartsheet in the 3rd quarter valued at approximately $39,029,000. Alpine Associates Management Inc. bought a new position in Smartsheet in the 3rd quarter valued at approximately $28,029,000. Westchester Capital Management LLC bought a new position in Smartsheet in the 3rd quarter valued at approximately $24,772,000. Finally, Glenmede Trust Co. NA lifted its position in Smartsheet by 464.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 531,557 shares of the company’s stock valued at $29,427,000 after acquiring an additional 437,371 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of the stock in a transaction on 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. This represents a 10.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Patrick Mader sold 47,916 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total value of $2,681,379.36. Following the completion of the sale, the chief executive officer now owns 624,356 shares of the company’s stock, valued at $34,938,961.76. The trade was a 7.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,916 shares of company stock valued at $3,074,089. 4.52% of the stock is owned by company insiders.

Smartsheet Stock Performance

Shares of Smartsheet stock opened at $56.47 on Monday. Smartsheet Inc has a one year low of $36.27 and a one year high of $56.55. The stock’s fifty day moving average is $56.43 and its 200 day moving average is $55.43. The stock 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.

Analyst Upgrades and Downgrades

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

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.