Crescent Grove Advisors LLC Sells 19,610 Shares of Smartsheet Inc (NYSE:SMAR)

Crescent Grove Advisors LLC lowered its position in shares of Smartsheet Inc (NYSE:SMAR - Free Report) by 43.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,476 shares of the company's stock after selling 19,610 shares during the period. Crescent Grove Advisors LLC's holdings in Smartsheet were worth $1,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. US Bancorp DE increased its holdings in Smartsheet by 12.9% during the 3rd quarter. US Bancorp DE now owns 1,749 shares of the company's stock worth $97,000 after purchasing an additional 200 shares during the period. Landscape Capital Management L.L.C. increased its position in Smartsheet by 0.3% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company's stock valued at $4,596,000 after purchasing an additional 225 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Smartsheet by 25.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company's stock valued at $62,000 after purchasing an additional 228 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Smartsheet by 2.4% during the third quarter. Principal Financial Group Inc. now owns 11,538 shares of the company's stock valued at $639,000 after purchasing an additional 266 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Smartsheet by 2.1% during the third quarter. Larson Financial Group LLC now owns 13,253 shares of the company's stock valued at $734,000 after buying an additional 277 shares during the period. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $56.50 price target on shares of Smartsheet in a report on Thursday, October 24th. Needham & Company LLC restated a "hold" rating on shares of Smartsheet in a research note on Friday, December 6th. Finally, Guggenheim cut shares of Smartsheet from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. One 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $55.82.

Insider Activity

In related news, CEO Mark Patrick Mader sold 5,000 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $56.05, for a total value of $280,250.00. Following the completion of the sale, the chief executive officer now owns 578,762 shares in the company, valued at $32,439,610.10. This represents a 0.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jolene Lau Marshall sold 3,205 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $55.92, for a total value of $179,223.60. Following the completion of the sale, the insider now owns 18,695 shares of the company's stock, valued at $1,045,424.40. This trade represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock valued at $3,645,543 over the last three months. 4.52% of the stock is owned by insiders.

Smartsheet Stock Performance

Smartsheet stock remained flat at $56.47 on Friday. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $56.55. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71. The stock has a fifty day moving average of $56.11 and a two-hundred day moving average of $53.12.

Smartsheet Company 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.