California Public Employees Retirement System Has $34.19 Million Position in Smartsheet Inc (NYSE:SMAR)

California Public Employees Retirement System grew its position in shares of Smartsheet Inc (NYSE:SMAR) by 170.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 610,289 shares of the company’s stock after purchasing an additional 384,753 shares during the quarter. California Public Employees Retirement System owned approximately 0.44% of Smartsheet worth $34,194,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SMAR. The Manufacturers Life Insurance Company boosted its position in Smartsheet by 2.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 33,463 shares of the company’s stock worth $1,853,000 after buying an additional 661 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Smartsheet by 3.3% during the third quarter. BNP Paribas Financial Markets now owns 20,359 shares of the company’s stock worth $1,127,000 after purchasing an additional 654 shares during the period. MetLife Investment Management LLC grew its stake in shares of Smartsheet by 3.4% in the third quarter. MetLife Investment Management LLC now owns 8,428 shares of the company’s stock worth $467,000 after purchasing an additional 280 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Smartsheet by 3.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,307 shares of the company’s stock valued at $1,622,000 after purchasing an additional 952 shares during the period. Finally, Captrust Financial Advisors raised its position in Smartsheet by 77.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,311 shares of the company’s stock worth $737,000 after purchasing an additional 5,811 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Sixteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Smartsheet presently has an average rating of “Hold” and a consensus target price of $57.00.

Smartsheet Price Performance

Shares of SMAR stock opened at $56.47 on Thursday. The firm has a 50 day moving average of $56.47 and a 200-day moving average of $55.98. The company has a market cap of $7.91 billion, a price-to-earnings ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71. Smartsheet Inc has a 52 week low of $36.27 and a 52 week high of $56.55.

Insider Buying and Selling

In other news, CEO Mark Patrick Mader sold 5,000 shares of the business’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 transaction of $280,350.00. Following the completion of the sale, the chief executive officer now owns 619,515 shares in the company, valued at $34,736,206.05. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.52% of the stock is owned by insiders.

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.