Smartsheet Inc (NYSE:SMAR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in shares of Smartsheet Inc (NYSE:SMAR) by 40.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 494,893 shares of the company’s stock after selling 329,467 shares during the quarter. New York State Common Retirement Fund’s holdings in Smartsheet were worth $27,729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC raised its stake in shares of Smartsheet by 27.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,549 shares of the company’s stock worth $87,000 after buying an additional 334 shares during the last quarter. CIBC Asset Management Inc raised its stake in Smartsheet by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 4,242 shares of the company’s stock valued at $238,000 after purchasing an additional 227 shares during the last quarter. Capital Performance Advisors LLP raised its stake in Smartsheet by 124.8% in the 4th quarter. Capital Performance Advisors LLP now owns 6,165 shares of the company’s stock valued at $345,000 after purchasing an additional 3,423 shares during the last quarter. Rhumbline Advisers raised its stake in Smartsheet by 1.2% in the 4th quarter. Rhumbline Advisers now owns 161,891 shares of the company’s stock valued at $9,071,000 after purchasing an additional 1,945 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Smartsheet by 3.4% in the 4th quarter. Van ECK Associates Corp now owns 49,231 shares of the company’s stock valued at $2,758,000 after purchasing an additional 1,622 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SMAR shares. Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Guggenheim downgraded shares of Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Smartsheet presently has a consensus rating of “Hold” and an average price target of $55.82.

Insider Transactions at Smartsheet

In other news, insider Jolene Lau Marshall sold 2,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $55.99, for a total transaction of $111,980.00. Following the completion of the sale, the insider now owns 19,739 shares in the company, valued at approximately $1,105,186.61. The trade was a 9.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Patrick Mader sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the completion of the transaction, the chief executive officer now owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,916 shares of company stock worth $3,186,069. 4.52% of the stock is currently owned by company insiders.

Smartsheet Stock Performance

Shares of NYSE:SMAR opened at $56.47 on Friday. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55. The stock has a market capitalization of $7.91 billion, a P/E ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71. The stock has a 50-day simple moving average of $56.29 and a 200-day simple moving average of $54.38.

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.