Merit Financial Group LLC Buys New Shares in Smartsheet Inc (NYSE:SMAR)

Merit Financial Group LLC acquired a new stake in Smartsheet Inc (NYSE:SMAR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,437 shares of the company's stock, valued at approximately $809,000.

A number of other institutional investors have also bought and sold shares of the business. American Century Companies Inc. grew its holdings in shares of Smartsheet by 699.9% in the second quarter. American Century Companies Inc. now owns 59,454 shares of the company's stock valued at $2,621,000 after purchasing an additional 52,021 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Smartsheet by 107.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 831,709 shares of the company's stock valued at $36,660,000 after purchasing an additional 430,481 shares during the last quarter. Amalgamated Bank grew its stake in shares of Smartsheet by 3.5% in the 2nd quarter. Amalgamated Bank now owns 8,678 shares of the company's stock valued at $383,000 after buying an additional 294 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Smartsheet by 4.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,622 shares of the company's stock worth $468,000 after buying an additional 455 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Smartsheet by 92.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 358,100 shares of the company's stock valued at $15,785,000 after buying an additional 172,000 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Smartsheet news, CEO Mark Patrick Mader sold 47,916 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 624,356 shares in the company, valued at $34,938,961.76. This represents a 7.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jolene Lau Marshall sold 3,205 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $55.92, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,121 shares of company stock worth $3,645,543 over the last three months. 4.52% of the stock is owned by insiders.

Smartsheet Stock Up 0.0 %

Shares of SMAR stock traded up $0.02 on Wednesday, reaching $56.48. 17,555,591 shares of the stock were exchanged, compared to its average volume of 2,795,654. The stock has a market cap of $7.91 billion, a P/E ratio of -941.35, a price-to-earnings-growth ratio of 82.88 and a beta of 0.71. The firm has a 50 day moving average of $56.08 and a two-hundred day moving average of $52.91. Smartsheet Inc has a 1-year low of $35.52 and a 1-year high of $56.55.

Analysts Set New Price Targets

Several brokerages recently weighed in on SMAR. Jefferies Financial Group reiterated a "hold" rating and issued a $56.50 price objective (down from $60.00) on shares of Smartsheet in a research report on Tuesday, September 24th. DA Davidson reiterated a "neutral" rating and set a $56.50 price target (up from $55.00) on shares of Smartsheet in a report on Tuesday, September 24th. UBS Group restated a "neutral" rating and issued a $56.50 price objective (down from $61.00) on shares of Smartsheet in a report on Thursday, September 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Smartsheet in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $56.50 price target (down from $60.00) on shares of Smartsheet in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $55.82.

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.