Venturi Wealth Management LLC Increases Stake in Smartsheet Inc (NYSE:SMAR)

Venturi Wealth Management LLC increased its holdings in Smartsheet Inc (NYSE:SMAR) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,549 shares of the company’s stock after purchasing an additional 334 shares during the quarter. Venturi Wealth Management LLC’s holdings in Smartsheet were worth $87,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE grew its position in shares of Smartsheet by 12.9% in the 3rd quarter. US Bancorp DE now owns 1,749 shares of the company’s stock worth $97,000 after buying an additional 200 shares during the last quarter. Landscape Capital Management L.L.C. lifted its position in shares of Smartsheet by 0.3% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock worth $4,596,000 after purchasing an additional 225 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Smartsheet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 4,242 shares of the company’s stock valued at $238,000 after purchasing an additional 227 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Smartsheet by 25.5% in the third quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock worth $62,000 after buying an additional 228 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Smartsheet by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock valued at $639,000 after acquiring an additional 266 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Smartsheet Stock Performance

SMAR opened at $56.47 on Monday. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $56.55. The stock has a 50-day moving average of $56.30 and a 200 day moving average of $54.60. The firm has a market cap of $7.91 billion, a P/E ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SMAR shares. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Guggenheim cut Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Smartsheet currently has an average rating of “Hold” and an average target price of $55.82.

Insider Activity

In other news, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total transaction of $112,360.00. Following the transaction, the insider now owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. This represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $280,350.00. Following the sale, the chief executive officer now directly owns 619,515 shares of the company’s stock, valued at $34,736,206.05. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,916 shares of company stock valued at $3,186,069. 4.52% of the stock is currently owned by insiders.

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.