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

FNY Investment Advisers LLC raised its position in Smartsheet Inc (NYSE:SMAR) by 1,399.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,254 shares of the company’s stock after purchasing an additional 70,236 shares during the quarter. Smartsheet accounts for approximately 2.2% of FNY Investment Advisers LLC’s portfolio, making the stock its 3rd largest position. FNY Investment Advisers LLC’s holdings in Smartsheet were worth $4,216,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Smartsheet by 699.9% in the 2nd quarter. American Century Companies Inc. now owns 59,454 shares of the company’s stock valued at $2,621,000 after buying an additional 52,021 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Smartsheet by 590.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 18,248 shares of the company’s stock worth $791,000 after purchasing an additional 15,604 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Smartsheet by 107.3% during the second quarter. Dimensional Fund Advisors LP now owns 831,709 shares of the company’s stock worth $36,660,000 after purchasing an additional 430,481 shares in the last quarter. Andar Capital Management HK Ltd purchased a new position in shares of Smartsheet in the second quarter valued at approximately $1,984,000. Finally, Amalgamated Bank increased its stake in Smartsheet by 3.5% during the 2nd quarter. Amalgamated Bank now owns 8,678 shares of the company’s stock worth $383,000 after buying an additional 294 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Mark Patrick Mader sold 47,916 shares of Smartsheet stock in a transaction on 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 transaction, the chief executive officer now directly owns 624,356 shares in the company, valued at $34,938,961.76. This trade represents a 7.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jolene Lau Marshall sold 3,205 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $55.92, for a total transaction of $179,223.60. Following the transaction, the insider now owns 18,695 shares of the company’s stock, valued at approximately $1,045,424.40. The trade was 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 worth $3,645,543 in the last 90 days. Company insiders own 4.52% of the company’s stock.

Smartsheet Trading Down 0.1 %

Shares of SMAR opened at $56.33 on Tuesday. The company’s 50 day simple moving average is $56.02 and its 200-day simple moving average is $52.38. The firm has a market cap of $7.89 billion, a PE ratio of -938.83, a price-to-earnings-growth 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.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group restated a “hold” rating and issued a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Citigroup reaffirmed a “neutral” rating and issued a $56.50 price target (down previously from $63.00) on shares of Smartsheet in a research report on Friday, September 27th. Canaccord Genuity Group downgraded Smartsheet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $56.50 target price on shares of Smartsheet in a report on Thursday, October 24th. Finally, DA Davidson reiterated a “neutral” rating and set a $56.50 price target (up previously from $55.00) on shares of Smartsheet in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.82.

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.