Smartsheet Inc (NYSE:SMAR) Shares Bought by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC grew its position in Smartsheet Inc (NYSE:SMAR) by 6.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,596 shares of the company’s stock after acquiring an additional 482 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Smartsheet were worth $426,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. US Bancorp DE raised its holdings in Smartsheet by 12.9% in the third quarter. US Bancorp DE now owns 1,749 shares of the company’s stock valued at $97,000 after buying an additional 200 shares during the period. Landscape Capital Management L.L.C. raised its stake 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 valued at $4,596,000 after acquiring an additional 225 shares during the period. First Horizon Advisors Inc. raised its stake in shares of Smartsheet by 25.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock valued at $62,000 after acquiring an additional 228 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of 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. Finally, Larson Financial Group LLC boosted its position in Smartsheet by 2.1% during the 3rd quarter. Larson Financial Group LLC now owns 13,253 shares of the company’s stock worth $734,000 after purchasing an additional 277 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Smartsheet Stock Performance

Shares of SMAR stock opened at $56.47 on Wednesday. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55. The company’s 50-day simple moving average is $56.13 and its 200-day simple moving average is $53.28.

Analyst Ratings Changes

Several research firms have commented on SMAR. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $56.50 price target 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 research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.82.

Insiders Place Their Bets

In related news, CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were 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 $34,736,206.05. This represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jolene Lau Marshall sold 2,000 shares of the firm’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 directly owns 17,739 shares in the company, valued at $996,577.02. This represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,121 shares of company stock valued at $3,645,543 in the last quarter. Insiders own 4.52% of the company’s stock.

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.