33,218 Shares in Smartsheet Inc (NYSE:SMAR) Bought by Burren Capital Advisors Ltd

Burren Capital Advisors Ltd acquired a new stake in shares of Smartsheet Inc (NYSE:SMAR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 33,218 shares of the company’s stock, valued at approximately $1,861,000. Smartsheet comprises about 9.0% of Burren Capital Advisors Ltd’s portfolio, making the stock its 5th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of Smartsheet by 12.9% in the 3rd quarter. US Bancorp DE now owns 1,749 shares of the company’s stock valued at $97,000 after purchasing an additional 200 shares in the last quarter. Farther Finance Advisors LLC increased 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 last quarter. Principal Financial Group Inc. raised its stake in Smartsheet by 2.4% during the third quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock valued at $639,000 after buying an additional 266 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Smartsheet during the 3rd quarter worth approximately $152,000. Finally, Atria Investments Inc grew its position in shares of Smartsheet by 3.1% in the 3rd quarter. Atria Investments Inc now owns 9,749 shares of the company’s stock worth $540,000 after acquiring an additional 289 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Smartsheet Stock Performance

NYSE SMAR opened at $56.47 on Friday. The company has a 50-day moving average price of $56.39 and a two-hundred day moving average price of $55.10. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $56.55. The stock 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.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, insider Jolene Lau Marshall sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total value 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 trade represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Patrick Mader sold 47,916 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total value of $2,681,379.36. Following the sale, the chief executive officer now directly owns 624,356 shares in the company, valued at approximately $34,938,961.76. The trade was a 7.13 % 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 in the last three months. 4.52% of the stock is currently owned by corporate 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.