Syquant Capital Sas Invests $15.43 Million in Smartsheet Inc (NYSE:SMAR)

Syquant Capital Sas bought a new stake in Smartsheet Inc (NYSE:SMAR - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 275,349 shares of the company's stock, valued at approximately $15,428,000. Smartsheet accounts for about 21.9% of Syquant Capital Sas' investment portfolio, making the stock its 3rd biggest holding. Syquant Capital Sas owned approximately 0.20% of Smartsheet as of its most recent SEC filing.

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

Insider Activity at Smartsheet

In other news, CEO Mark Patrick Mader sold 5,000 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $56.05, for a total value of $280,250.00. Following the transaction, the chief executive officer now directly owns 578,762 shares of the company's stock, valued at $32,439,610.10. The trade was a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jolene Lau Marshall sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total transaction of $112,360.00. Following the sale, the insider now directly owns 17,739 shares of the company's stock, valued at approximately $996,577.02. This trade represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock worth $3,645,543 in the last quarter. 4.52% of the stock is owned by insiders.

Smartsheet Trading Down 0.1 %

Smartsheet stock traded down $0.04 during mid-day trading on Monday, reaching $56.33. The company had a trading volume of 4,097,130 shares, compared to its average volume of 3,614,104. The business has a fifty day simple moving average of $56.02 and a 200 day simple moving average of $52.38. The company has a market cap of $7.89 billion, a P/E ratio of -938.83, a P/E/G ratio of 82.24 and a beta of 0.71. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $56.55.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SMAR shares. Canaccord Genuity Group lowered Smartsheet from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 25th. William Blair restated a "market perform" rating on shares of Smartsheet in a research note on Wednesday, September 25th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $56.50 price objective on shares of Smartsheet in a research note on Thursday, October 24th. Wolfe Research reissued a "peer perform" rating on shares of Smartsheet in a report on Wednesday, September 25th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Smartsheet in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Smartsheet presently has an average rating of "Hold" and an average target price of $55.82.

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.