Corient Private Wealth LLC Has $4.72 Million Stake in Smartsheet Inc (NYSE:SMAR)

Corient Private Wealth LLC lifted its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,268 shares of the company’s stock after buying an additional 289 shares during the quarter. Corient Private Wealth LLC’s holdings in Smartsheet were worth $4,722,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SMAR. SBI Securities Co. Ltd. acquired a new position in Smartsheet during the fourth quarter valued at approximately $25,000. Fifth Third Bancorp acquired a new position in Smartsheet during the fourth quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new position in Smartsheet during the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC grew its holdings in Smartsheet by 737.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 536 shares of the company’s stock valued at $30,000 after purchasing an additional 472 shares during the period. Finally, True Wealth Design LLC acquired a new position in Smartsheet during the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total transaction of $112,360.00. Following the sale, the insider now directly 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Patrick Mader sold 5,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 619,515 shares in the company, valued at $34,736,206.05. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Sixteen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Smartsheet presently has an average rating of “Hold” and a consensus target price of $57.00.

Smartsheet Price Performance

Shares of SMAR stock opened at $56.47 on Friday. The company’s fifty day simple moving average is $56.46 and its 200-day simple moving average is $55.60. The firm has a market cap of $7.91 billion, a PE ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71. Smartsheet Inc has a 12 month low of $36.27 and a 12 month high of $56.55.

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.