M&T Bank Corp Has $2.98 Million Position in Smartsheet Inc (NYSE:SMAR)

M&T Bank Corp reduced its holdings in Smartsheet Inc (NYSE:SMAR) by 14.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,151 shares of the company’s stock after selling 8,930 shares during the period. M&T Bank Corp’s holdings in Smartsheet were worth $2,978,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SMAR. SBI Securities Co. Ltd. acquired a new position in Smartsheet in the fourth quarter valued at approximately $25,000. Fifth Third Bancorp acquired a new position in Smartsheet in the fourth quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new position in Smartsheet in the third quarter valued at approximately $28,000. Farther Finance Advisors LLC lifted its holdings in Smartsheet by 123.2% in the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock valued at $40,000 after buying an additional 398 shares during the period. Finally, True Wealth Design LLC acquired a new position in Smartsheet in the third quarter valued at approximately $41,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Smartsheet

In other news, insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 19,739 shares in the company, valued at $1,105,186.61. This trade represents a 9.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of the company’s stock in a transaction dated 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 owns 619,515 shares in the company, valued at $34,736,206.05. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,916 shares of company stock valued at $3,186,069 over the last quarter. Corporate insiders own 4.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on SMAR shares. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Guggenheim lowered shares of Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Seventeen investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Smartsheet currently has an average rating of “Hold” and an average price target of $56.50.

Smartsheet Price Performance

Shares of SMAR stock opened at $56.47 on Friday. The firm has a fifty day moving average of $56.39 and a 200-day moving average of $55.14. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55. The company has a market capitalization 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.

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.