Crescent Grove Advisors LLC Has $1.43 Million Holdings in Smartsheet Inc (NYSE:SMAR)

Crescent Grove Advisors LLC lessened its holdings in Smartsheet Inc (NYSE:SMAR) by 43.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,476 shares of the company’s stock after selling 19,610 shares during the period. Crescent Grove Advisors LLC’s holdings in Smartsheet were worth $1,427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMAR. American Century Companies Inc. grew its stake in shares of Smartsheet by 699.9% in the 2nd quarter. American Century Companies Inc. now owns 59,454 shares of the company’s stock worth $2,621,000 after acquiring an additional 52,021 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Smartsheet by 107.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 831,709 shares of the company’s stock worth $36,660,000 after purchasing an additional 430,481 shares in the last quarter. Amalgamated Bank increased its stake in Smartsheet by 3.5% in the 2nd quarter. Amalgamated Bank now owns 8,678 shares of the company’s stock valued at $383,000 after buying an additional 294 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Smartsheet by 4.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,622 shares of the company’s stock worth $468,000 after buying an additional 455 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Smartsheet in the 2nd quarter worth approximately $3,274,000. 90.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on SMAR. Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $56.50 target price on shares of Smartsheet in a research report on Thursday, October 24th. Finally, Guggenheim downgraded shares of Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $55.82.

Smartsheet Price Performance

NYSE:SMAR opened at $56.47 on Friday. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55. The stock’s fifty day moving average price is $56.11 and its two-hundred day moving average price is $53.05. The company 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.

Insider Activity at Smartsheet

In other Smartsheet news, CEO Mark Patrick Mader sold 47,916 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $55.96, for a total value of $2,681,379.36. Following the completion of the transaction, the chief executive officer now directly owns 624,356 shares of the company’s stock, valued at $34,938,961.76. This trade represents a 7.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $55.99, for a total transaction of $111,980.00. Following the completion of the transaction, the insider now directly owns 19,739 shares in the company, valued at approximately $1,105,186.61. The trade was a 9.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,121 shares of company stock worth $3,645,543. 4.52% of the stock is owned by company 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.