Allegiance Financial Group Advisory Services LLC Purchases Shares of 6,193 Smartsheet Inc (NYSE:SMAR)

Allegiance Financial Group Advisory Services LLC purchased a new stake in shares of Smartsheet Inc (NYSE:SMAR) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 6,193 shares of the company’s stock, valued at approximately $347,000.

Other hedge funds have also bought and sold shares of the company. Zacks Investment Management bought a new stake in Smartsheet during the third quarter valued at about $4,551,000. Verition Fund Management LLC grew its holdings in Smartsheet by 1,149.0% during the third quarter. Verition Fund Management LLC now owns 322,103 shares of the company’s stock valued at $17,832,000 after purchasing an additional 296,314 shares during the period. Maven Securities LTD bought a new position in shares of Smartsheet in the third quarter worth about $3,875,000. FNY Investment Advisers LLC boosted its stake in shares of Smartsheet by 1,399.7% in the fourth quarter. FNY Investment Advisers LLC now owns 75,254 shares of the company’s stock worth $4,216,000 after acquiring an additional 70,236 shares during the period. Finally, Syquant Capital Sas bought a new position in shares of Smartsheet in the fourth quarter worth about $15,428,000. Institutional investors own 90.01% of the company’s stock.

Smartsheet Price Performance

Shares of SMAR stock opened at $56.47 on Thursday. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55. The stock’s 50 day simple moving average is $56.33 and its two-hundred day simple moving average is $54.76. The company 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.

Insider Buying and Selling at Smartsheet

In other news, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the sale, the chief executive officer now directly owns 619,515 shares in the company, valued at approximately $34,736,206.05. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jolene Lau Marshall sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 19,739 shares in the company, valued at approximately $1,105,186.61. The trade was 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 worth $3,186,069 over the last ninety days. Company insiders own 4.52% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.