Machina Capital S.A.S. Takes Position in Smartsheet Inc (NYSE:SMAR)

Machina Capital S.A.S. purchased a new stake in shares of Smartsheet Inc (NYSE:SMAR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,595 shares of the company’s stock, valued at approximately $257,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Smartsheet by 6.2% during the third 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 grew its position in Smartsheet by 2.4% during the third quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock valued at $123,545,000 after acquiring an additional 52,293 shares during the period. Charles Schwab Investment Management Inc. grew its position in Smartsheet by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,282,883 shares of the company’s stock valued at $71,880,000 after acquiring an additional 4,218 shares during the period. Los Angeles Capital Management LLC grew its position in Smartsheet by 33.9% during the third quarter. Los Angeles Capital Management LLC now owns 835,940 shares of the company’s stock valued at $46,278,000 after acquiring an additional 211,632 shares during the period. Finally, Citigroup Inc. lifted its stake in shares of Smartsheet by 2,767.1% during the third quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock worth $45,589,000 after purchasing an additional 794,779 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SMAR shares. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Guggenheim cut 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.50.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $55.99, for a total transaction of $111,980.00. Following the sale, the insider now owns 19,739 shares in the company, valued at $1,105,186.61. This represents a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Patrick Mader sold 47,916 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 624,356 shares in the company, valued at $34,938,961.76. The trade was a 7.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,916 shares of company stock worth $3,186,069 over the last quarter. 4.52% of the stock is owned by corporate insiders.

Smartsheet Price Performance

Shares of NYSE SMAR opened at $56.47 on Monday. The stock’s 50 day moving average price is $56.39 and its two-hundred day moving average price is $55.18. Smartsheet Inc has a 52-week low of $35.52 and a 52-week 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.

Smartsheet Company 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.