Nordea Investment Management AB boosted its holdings in Smartsheet Inc (NYSE:SMAR - Free Report) by 11.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 196,922 shares of the company's stock after buying an additional 19,563 shares during the period. Nordea Investment Management AB owned 0.14% of Smartsheet worth $11,031,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of SMAR. Victory Capital Management Inc. raised its position in shares of Smartsheet by 342.0% during the second quarter. Victory Capital Management Inc. now owns 236,914 shares of the company's stock valued at $10,443,000 after buying an additional 183,313 shares during the last quarter. Arizona State Retirement System lifted its stake in Smartsheet by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 36,548 shares of the company's stock worth $1,611,000 after purchasing an additional 974 shares in the last quarter. Pier Capital LLC lifted its stake in Smartsheet by 90.8% in the 2nd quarter. Pier Capital LLC now owns 189,528 shares of the company's stock worth $8,354,000 after purchasing an additional 90,175 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Smartsheet by 699.9% during the 2nd 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 last quarter. Finally, Cornercap Investment Counsel Inc. grew its position in shares of Smartsheet by 11.3% during the second quarter. Cornercap Investment Counsel Inc. now owns 27,321 shares of the company's stock valued at $1,204,000 after purchasing an additional 2,764 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.
Insider Buying and Selling at Smartsheet
In related news, CEO Mark Patrick Mader sold 47,916 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 624,356 shares of the company's stock, valued at $34,938,961.76. This represents a 7.13 % decrease in their ownership of the stock. 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 transaction of $179,223.60. Following the transaction, the insider now directly owns 18,695 shares in the company, valued at $1,045,424.40. This trade represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock valued at $3,645,543 in the last three months. Company insiders own 4.52% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on SMAR. Needham & Company LLC reiterated a "hold" rating on shares of Smartsheet in a research report on Friday, December 6th. Barclays increased their target price on Smartsheet from $50.00 to $56.50 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. BMO Capital Markets restated a "market perform" rating and issued a $56.50 price target (down previously from $59.00) on shares of Smartsheet in a research report on Wednesday, September 25th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a research note on Wednesday, September 25th. Finally, William Blair reissued a "market perform" rating on shares of Smartsheet in a research note on Wednesday, September 25th. One equities 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $55.82.
Read Our Latest Analysis on SMAR
Smartsheet Trading Up 0.2 %
Shares of SMAR traded up $0.09 during trading hours on Thursday, reaching $56.24. 3,197,201 shares of the company traded hands, compared to its average volume of 2,991,940. The stock's fifty day moving average price is $56.01 and its 200 day moving average price is $52.05. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of -937.33, a PEG ratio of 82.24 and a beta of 0.71. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55.
About Smartsheet
(
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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