Arrowstreet Capital Limited Partnership Increases Stock Holdings in Smartsheet Inc (NYSE:SMAR)

Arrowstreet Capital Limited Partnership grew its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 57.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 286,486 shares of the company’s stock after purchasing an additional 104,840 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Smartsheet were worth $16,052,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SMAR. Gardner Lewis Asset Management L P bought a new stake in shares of Smartsheet during the 4th quarter valued at $14,579,000. Pictet Asset Management Holding SA grew its holdings in Smartsheet by 15.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 18,745 shares of the company’s stock valued at $1,050,000 after purchasing an additional 2,445 shares during the period. Norges Bank purchased a new stake in Smartsheet in the fourth quarter worth about $25,662,000. JPMorgan Chase & Co. increased its position in Smartsheet by 47.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,054,433 shares of the company’s stock worth $115,110,000 after buying an additional 664,871 shares in the last quarter. Finally, Mint Tower Capital Management B.V. bought a new position in shares of Smartsheet in the fourth quarter worth about $4,115,000. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Smartsheet news, CEO Mark Patrick Mader sold 5,000 shares of the firm’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 transaction, the chief executive officer now owns 619,515 shares in the company, valued at $34,736,206.05. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

Shares of NYSE:SMAR opened at $56.47 on Friday. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71. The firm has a fifty day moving average price of $56.47 and a 200 day moving average price of $56.01. Smartsheet Inc has a fifty-two week low of $36.27 and a fifty-two week high of $56.55.

Wall Street Analyst Weigh In

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

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.