Capital Performance Advisors LLP Increases Stock Holdings in Smartsheet Inc (NYSE:SMAR)

Capital Performance Advisors LLP lifted its stake in shares of Smartsheet Inc (NYSE:SMAR) by 124.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,165 shares of the company’s stock after acquiring an additional 3,423 shares during the period. Capital Performance Advisors LLP’s holdings in Smartsheet were worth $345,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fifth Third Bancorp purchased a new stake in shares of Smartsheet during the 4th quarter valued at about $26,000. Brooklyn Investment Group purchased a new stake in Smartsheet during the 3rd quarter worth approximately $28,000. Raleigh Capital Management Inc. purchased a new stake in Smartsheet during the 3rd quarter worth approximately $31,000. Waldron Private Wealth LLC purchased a new stake in Smartsheet during the 3rd quarter worth approximately $33,000. Finally, Farther Finance Advisors LLC increased its holdings in Smartsheet by 123.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after purchasing an additional 398 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Smartsheet Price Performance

NYSE:SMAR opened at $56.47 on Monday. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55. The firm has a market capitalization of $7.91 billion, a P/E ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71. The business has a 50 day simple moving average of $56.25 and a 200 day simple moving average of $54.17.

Insider Activity at Smartsheet

In other Smartsheet news, CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.07, for a total transaction of $280,350.00. Following the completion of the transaction, the chief executive officer now owns 619,515 shares in the company, valued at approximately $34,736,206.05. The trade was a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jolene Lau Marshall sold 2,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $55.99, for a total value of $111,980.00. Following the transaction, the insider now owns 19,739 shares of the company’s stock, valued at $1,105,186.61. This trade represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,916 shares of company stock worth $3,186,069 in the last 90 days. 4.52% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SMAR shares. Royal Bank of Canada restated a “sector perform” rating and set a $56.50 price objective on shares of Smartsheet in a report on Thursday, October 24th. Guggenheim downgraded Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.