Smartsheet Inc (NYSE:SMAR) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP reduced its stake in Smartsheet Inc (NYSE:SMAR) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 150,000 shares of the company’s stock after selling 300 shares during the period. Cinctive Capital Management LP’s holdings in Smartsheet were worth $8,404,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Zacks Investment Management acquired a new position in shares of Smartsheet in the 3rd quarter worth approximately $4,551,000. Maven Securities LTD purchased a new stake in Smartsheet during the third quarter worth about $3,875,000. FNY Investment Advisers LLC grew its holdings in shares of Smartsheet by 1,399.7% in the fourth quarter. FNY Investment Advisers LLC now owns 75,254 shares of the company’s stock valued at $4,216,000 after purchasing an additional 70,236 shares in the last quarter. Syquant Capital Sas purchased a new stake in Smartsheet during the 4th quarter worth approximately $15,428,000. Finally, Nordea Investment Management AB increased its stake in Smartsheet by 11.0% during the 4th quarter. Nordea Investment Management AB now owns 196,922 shares of the company’s stock worth $11,031,000 after buying an additional 19,563 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

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

Smartsheet Stock Performance

NYSE:SMAR opened at $56.47 on Wednesday. Smartsheet Inc has a 12-month low of $36.27 and a 12-month high of $56.55. The stock’s 50 day simple moving average is $56.47 and its 200-day simple moving average is $55.97. The firm has a market cap of $7.91 billion, a P/E ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71.

Insider Activity at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total value of $112,360.00. Following the sale, the insider now owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. The trade was a 10.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the transaction, the chief executive officer now owns 619,515 shares in the company, valued at $34,736,206.05. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. 4.52% of the stock is currently owned by 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.