Smartsheet Inc (NYSE:SMAR) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC lifted its position in shares of Smartsheet Inc (NYSE:SMAR) by 1,885.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 238,958 shares of the company’s stock after buying an additional 226,923 shares during the period. Ieq Capital LLC owned approximately 0.17% of Smartsheet worth $13,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp acquired a new stake in shares of Smartsheet during the 4th quarter worth $26,000. Brooklyn Investment Group acquired a new stake in Smartsheet in the 3rd quarter valued at $28,000. Raleigh Capital Management Inc. acquired a new stake in Smartsheet in the 3rd quarter valued at $31,000. Waldron Private Wealth LLC acquired a new stake in Smartsheet in the 3rd quarter valued at $33,000. Finally, Farther Finance Advisors LLC increased its holdings in Smartsheet by 123.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock valued at $40,000 after purchasing an additional 398 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Smartsheet Stock Performance

Shares of SMAR stock opened at $56.47 on Thursday. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55. The company’s 50-day simple moving average is $56.27 and its 200-day simple moving average is $54.35. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71.

Insider Transactions at Smartsheet

In other news, insider Jolene Lau Marshall sold 2,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $55.99, for a total transaction of $111,980.00. Following the transaction, the insider now owns 19,739 shares of the company’s stock, valued at approximately $1,105,186.61. This trade represents a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Patrick Mader sold 47,916 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total transaction of $2,681,379.36. Following the transaction, the chief executive officer now directly owns 624,356 shares in the company, valued at $34,938,961.76. The trade was a 7.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,916 shares of company stock valued at $3,186,069. Insiders own 4.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SMAR. Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Guggenheim downgraded Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $56.50 price target on shares of Smartsheet in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Smartsheet presently 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.