Smartsheet Inc (NYSE:SMAR) Holdings Boosted by Ieq Capital LLC

Ieq Capital LLC boosted its holdings in Smartsheet Inc (NYSE:SMAR) by 1,885.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 238,958 shares of the company’s stock after acquiring an additional 226,923 shares during the period. Ieq Capital LLC’s holdings in Smartsheet were worth $13,389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of SMAR. Alberta Investment Management Corp increased its stake in shares of Smartsheet by 111.0% in the fourth quarter. Alberta Investment Management Corp now owns 288,700 shares of the company’s stock valued at $16,176,000 after purchasing an additional 151,900 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Smartsheet by 27.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,549 shares of the company’s stock valued at $87,000 after purchasing an additional 334 shares during the period. CIBC Asset Management Inc increased its stake in shares of Smartsheet by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 4,242 shares of the company’s stock valued at $238,000 after purchasing an additional 227 shares during the period. Capital Performance Advisors LLP increased its stake in shares of Smartsheet by 124.8% in the fourth quarter. Capital Performance Advisors LLP now owns 6,165 shares of the company’s stock valued at $345,000 after purchasing an additional 3,423 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Smartsheet by 1.2% in the fourth quarter. Rhumbline Advisers now owns 161,891 shares of the company’s stock valued at $9,071,000 after purchasing an additional 1,945 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In related news, insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $55.99, for a total transaction of $111,980.00. Following the completion of the sale, the insider now directly owns 19,739 shares in the company, valued at approximately $1,105,186.61. This trade represents a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of the firm’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 transaction of $280,350.00. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,916 shares of company stock worth $3,186,069. Corporate insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

Shares of NYSE:SMAR opened at $56.47 on Thursday. 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 1-year low of $35.52 and a 1-year high of $56.55. The company has a 50 day moving average price of $56.27 and a 200 day moving average price of $54.35.

Analyst Ratings Changes

Several equities research analysts have commented on SMAR shares. Royal Bank of Canada restated a “sector perform” rating and issued a $56.50 price target on shares of Smartsheet in a research note on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Finally, Guggenheim lowered shares of Smartsheet from a “buy” rating to a “neutral” rating in a research note 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 data from MarketBeat, Smartsheet presently has a consensus rating of “Hold” and a consensus target price of $55.82.

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.