Smartsheet Inc (NYSE:SMAR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 40.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 494,893 shares of the company’s stock after selling 329,467 shares during the quarter. New York State Common Retirement Fund owned about 0.35% of Smartsheet worth $27,729,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Creative Planning raised its holdings in Smartsheet by 7.2% in the third quarter. Creative Planning now owns 10,779 shares of the company’s stock valued at $597,000 after acquiring an additional 721 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in Smartsheet in the third quarter valued at approximately $33,000. International Assets Investment Management LLC raised its holdings in Smartsheet by 5,435.9% in the third quarter. International Assets Investment Management LLC now owns 31,887 shares of the company’s stock valued at $1,765,000 after acquiring an additional 31,311 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Smartsheet by 294.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 28,649 shares of the company’s stock valued at $1,586,000 after acquiring an additional 21,384 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in Smartsheet by 53.6% in the third quarter. Pallas Capital Advisors LLC now owns 20,787 shares of the company’s stock valued at $1,171,000 after acquiring an additional 7,255 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Transactions at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total value of $112,360.00. Following the completion of the sale, the insider now owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. This trade represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Patrick Mader sold 47,916 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 624,356 shares of the company’s stock, valued at approximately $34,938,961.76. This trade represents a 7.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,916 shares of company stock worth $3,186,069. Insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

Shares of SMAR opened at $56.47 on Friday. The firm has a market cap 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. The company’s 50 day simple moving average is $56.29 and its 200-day simple moving average is $54.38. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55.

Analysts Set New Price Targets

Several brokerages recently weighed in on SMAR. Guggenheim cut shares of Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Smartsheet has a consensus rating of “Hold” and a consensus target price of $55.82.

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.