Alpine Associates Management Inc. Has $33.14 Million Stake in Smartsheet Inc (NYSE:SMAR)

Alpine Associates Management Inc. lifted its stake in shares of Smartsheet Inc (NYSE:SMAR) by 16.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 591,400 shares of the company’s stock after acquiring an additional 85,100 shares during the period. Smartsheet accounts for about 2.0% of Alpine Associates Management Inc.’s portfolio, making the stock its 12th largest position. Alpine Associates Management Inc. owned approximately 0.42% of Smartsheet worth $33,136,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its position in shares of Smartsheet by 6.2% during the 3rd quarter. State Street Corp now owns 2,492,949 shares of the company’s stock valued at $138,010,000 after acquiring an additional 146,353 shares during the period. Geode Capital Management LLC increased its stake in Smartsheet by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock valued at $123,545,000 after purchasing an additional 52,293 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Smartsheet by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,282,883 shares of the company’s stock valued at $71,880,000 after purchasing an additional 4,218 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Smartsheet by 33.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 835,940 shares of the company’s stock valued at $46,278,000 after purchasing an additional 211,632 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Smartsheet by 2,767.1% during the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock valued at $45,589,000 after purchasing an additional 794,779 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, CEO Mark Patrick Mader sold 47,916 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $55.96, for a total transaction of $2,681,379.36. Following the sale, the chief executive officer now directly owns 624,356 shares of the company’s stock, valued at $34,938,961.76. This represents a 7.13 % decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $55.99, for a total transaction of $111,980.00. Following the sale, the insider now directly owns 19,739 shares in the company, valued at approximately $1,105,186.61. This trade represents a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,916 shares of company stock valued at $3,186,069 over the last three months. 4.52% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Guggenheim lowered shares of Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Seventeen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.50.

Smartsheet Stock Performance

SMAR opened at $56.47 on Friday. The firm has a market cap of $7.91 billion, a P/E ratio of -941.17, a PEG ratio of 82.90 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. The firm has a 50-day moving average of $56.39 and a 200 day moving average of $55.14.

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.