Vestcor Inc Boosts Stake in Smartsheet Inc (NYSE:SMAR)

Vestcor Inc increased its position in Smartsheet Inc (NYSE:SMAR) by 39.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,170 shares of the company’s stock after purchasing an additional 28,216 shares during the quarter. Vestcor Inc owned approximately 0.07% of Smartsheet worth $5,556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SMAR. Swiss National Bank increased its stake in shares of Smartsheet by 1.2% in the 4th quarter. Swiss National Bank now owns 260,000 shares of the company’s stock worth $14,568,000 after acquiring an additional 3,200 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Smartsheet by 737.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 536 shares of the company’s stock worth $30,000 after purchasing an additional 472 shares during the period. HighTower Advisors LLC increased its stake in shares of Smartsheet by 2.2% during the fourth quarter. HighTower Advisors LLC now owns 50,361 shares of the company’s stock valued at $2,822,000 after purchasing an additional 1,105 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Smartsheet by 19.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,057 shares of the company’s stock valued at $1,964,000 after purchasing an additional 5,750 shares during the last quarter. Finally, AlphaQuest LLC boosted its position in shares of Smartsheet by 144.8% in the 4th quarter. AlphaQuest LLC now owns 17,086 shares of the company’s stock worth $957,000 after purchasing an additional 10,105 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, insider Jolene Lau Marshall sold 2,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 17,739 shares of the company’s stock, valued at $996,577.02. This represents a 10.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Patrick Mader sold 5,000 shares of Smartsheet stock in a transaction 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 sale, the chief executive officer now directly owns 619,515 shares of the company’s stock, valued at $34,736,206.05. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,916 shares of company stock valued at $3,074,089 in the last 90 days. 4.52% of the stock is currently owned by insiders.

Smartsheet Price Performance

Smartsheet stock opened at $56.47 on Friday. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55. The business’s fifty day moving average is $56.43 and its 200 day moving average is $55.29. The stock has a market capitalization of $7.91 billion, a PE ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Seventeen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.50.

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.