Cinctive Capital Management LP Sells 300 Shares of Smartsheet Inc (NYSE:SMAR)

Cinctive Capital Management LP decreased its position in shares of Smartsheet Inc (NYSE:SMAR) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 150,000 shares of the company’s stock after selling 300 shares during the period. Cinctive Capital Management LP owned approximately 0.11% of Smartsheet worth $8,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in Smartsheet in the 4th quarter worth about $25,000. Fifth Third Bancorp purchased a new stake in shares of Smartsheet in the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Smartsheet by 737.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 536 shares of the company’s stock worth $30,000 after acquiring an additional 472 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Smartsheet by 27.5% during the 4th quarter. Venturi Wealth Management LLC now owns 1,549 shares of the company’s stock valued at $87,000 after acquiring an additional 334 shares during the period. Finally, IFP Advisors Inc grew its position in Smartsheet by 592.2% in the 4th quarter. IFP Advisors Inc now owns 2,381 shares of the company’s stock valued at $133,000 after acquiring an additional 2,037 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Smartsheet

In other Smartsheet news, CEO Mark Patrick Mader sold 5,000 shares of Smartsheet stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.07, for a total transaction of $280,350.00. Following the completion of the sale, the chief executive officer now owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. The trade was a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total transaction of $112,360.00. Following the completion of the transaction, the insider now owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. This trade represents a 10.13 % decrease in their position. 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 reissued a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Sixteen analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $57.00.

Smartsheet Price Performance

Shares of SMAR opened at $56.47 on Wednesday. The company has a 50 day moving average of $56.47 and a two-hundred day moving average of $55.97. Smartsheet Inc has a twelve month low of $36.27 and a twelve month high of $56.55. The company has a market cap of $7.91 billion, a price-to-earnings ratio of -941.17, a price-to-earnings-growth 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.