Smartsheet Inc (NYSE:SMAR) Shares Acquired by FNY Investment Advisers LLC

FNY Investment Advisers LLC increased its holdings in shares of Smartsheet Inc (NYSE:SMAR - Free Report) by 1,399.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,254 shares of the company's stock after acquiring an additional 70,236 shares during the quarter. Smartsheet comprises 2.2% of FNY Investment Advisers LLC's investment portfolio, making the stock its 3rd biggest position. FNY Investment Advisers LLC owned about 0.05% of Smartsheet worth $4,216,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Zacks Investment Management purchased a new position in Smartsheet during the third quarter worth about $4,551,000. Verition Fund Management LLC raised its position in shares of Smartsheet by 1,149.0% during the 3rd quarter. Verition Fund Management LLC now owns 322,103 shares of the company's stock valued at $17,832,000 after buying an additional 296,314 shares during the period. Maven Securities LTD acquired a new position in Smartsheet in the third quarter valued at approximately $3,875,000. Bank of Montreal Can acquired a new position in Smartsheet in the second quarter valued at approximately $3,274,000. Finally, New Millennium Group LLC purchased a new position in Smartsheet in the third quarter worth approximately $1,770,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.07, for a total transaction of $280,350.00. Following the completion of the sale, the chief executive officer now owns 619,515 shares in the company, valued at $34,736,206.05. This represents a 0.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jolene Lau Marshall sold 3,205 shares of the company'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 completion of the sale, the insider now directly owns 18,695 shares of the company's stock, valued at $1,045,424.40. The trade was a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,121 shares of company stock worth $3,645,543. 4.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SMAR shares. Guggenheim lowered shares of Smartsheet from a "buy" rating to a "neutral" rating in a report on Monday, November 11th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $56.50 price target (down from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $57.00 price objective on shares of Smartsheet in a research report on Tuesday, September 24th. Canaccord Genuity Group reissued a "hold" rating and issued a $56.50 target price (down previously from $60.00) on shares of Smartsheet in a research report on Wednesday, September 25th. Finally, BMO Capital Markets restated a "market perform" rating and set a $56.50 price target (down from $59.00) on shares of Smartsheet in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $55.82.

Smartsheet Price Performance

NYSE:SMAR remained flat at $56.33 during trading hours on Tuesday. The company had a trading volume of 4,196,622 shares, compared to its average volume of 3,597,978. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $56.55. The company has a market capitalization of $7.89 billion, a PE ratio of -938.83, a P/E/G ratio of 82.24 and a beta of 0.71. The company has a 50-day simple moving average of $56.02 and a two-hundred day simple moving average of $52.38.

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.