Gardner Lewis Asset Management L P Makes New $14.58 Million Investment in Smartsheet Inc (NYSE:SMAR)

Gardner Lewis Asset Management L P bought a new stake in Smartsheet Inc (NYSE:SMAR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 260,195 shares of the company’s stock, valued at approximately $14,579,000. Smartsheet makes up approximately 3.5% of Gardner Lewis Asset Management L P’s investment portfolio, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Smartsheet by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 14,235,855 shares of the company’s stock valued at $797,635,000 after buying an additional 365,851 shares in the last quarter. State Street Corp raised its position in Smartsheet by 6.2% in the third quarter. State Street Corp now owns 2,492,949 shares of the company’s stock worth $138,010,000 after purchasing an additional 146,353 shares in the last quarter. Geode Capital Management LLC lifted its stake in Smartsheet by 2.4% during the third quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock worth $123,545,000 after purchasing an additional 52,293 shares during the period. JPMorgan Chase & Co. lifted its stake in Smartsheet by 47.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,054,433 shares of the company’s stock worth $115,110,000 after purchasing an additional 664,871 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 purchasing an additional 4,218 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Sixteen equities 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 a consensus rating of “Hold” and a consensus target price of $57.00.

Insider Buying and Selling

In related news, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.07, for a total transaction of $280,350.00. Following the sale, the chief executive officer now owns 619,515 shares in the company, valued at approximately $34,736,206.05. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jolene Lau Marshall sold 2,000 shares of the company’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 sale, the insider now owns 17,739 shares of the company’s stock, valued at $996,577.02. The trade was a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.52% of the stock is owned by insiders.

Smartsheet Stock Performance

Shares of SMAR opened at $56.47 on Friday. The firm has a market cap of $7.91 billion, a P/E 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. The firm’s 50-day simple moving average is $56.47 and its 200 day simple moving average is $55.81.

Smartsheet 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.