Swiss National Bank Purchases 3,200 Shares of Smartsheet Inc (NYSE:SMAR)

Swiss National Bank grew its position in Smartsheet Inc (NYSE:SMAR) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,000 shares of the company’s stock after acquiring an additional 3,200 shares during the quarter. Swiss National Bank’s holdings in Smartsheet were worth $14,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SMAR. Principal Financial Group Inc. increased its holdings in shares of Smartsheet by 2.4% in the 3rd quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock worth $639,000 after buying an additional 266 shares during the last quarter. Atria Investments Inc increased its stake in Smartsheet by 3.1% during the third quarter. Atria Investments Inc now owns 9,749 shares of the company’s stock worth $540,000 after acquiring an additional 289 shares during the last quarter. KBC Group NV raised its position in Smartsheet by 16.7% during the third quarter. KBC Group NV now owns 3,712 shares of the company’s stock valued at $205,000 after purchasing an additional 530 shares during the period. CIBC Asset Management Inc bought a new stake in shares of Smartsheet in the 3rd quarter valued at approximately $222,000. Finally, Quest Partners LLC boosted its holdings in shares of Smartsheet by 36.6% in the 3rd quarter. Quest Partners LLC now owns 6,981 shares of the company’s stock worth $386,000 after purchasing an additional 1,871 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at Smartsheet

In related news, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total value of $112,360.00. Following the completion of the sale, the insider now directly owns 17,739 shares in the company, valued at $996,577.02. The trade was 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 the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of the 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 transaction, the chief executive officer now owns 619,515 shares in the company, valued at approximately $34,736,206.05. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.52% of the stock is owned by company insiders.

Smartsheet Price Performance

Shares of SMAR stock opened at $56.47 on Thursday. The company has a market capitalization 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. The company’s 50-day simple moving average is $56.45 and its two-hundred day simple moving average is $55.54. Smartsheet Inc has a one year low of $36.27 and a one year high of $56.55.

About Smartsheet

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.