Venturi Wealth Management LLC Raises Stock Position in Smartsheet Inc (NYSE:SMAR)

Venturi Wealth Management LLC grew its stake in Smartsheet Inc (NYSE:SMAR) by 27.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,549 shares of the company’s stock after purchasing an additional 334 shares during the period. Venturi Wealth Management LLC’s holdings in Smartsheet were worth $87,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fifth Third Bancorp acquired a new stake in shares of Smartsheet during the 4th quarter worth about $26,000. Brooklyn Investment Group acquired a new position in Smartsheet in the third quarter valued at $28,000. Farther Finance Advisors LLC raised its stake in Smartsheet by 123.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock valued at $40,000 after acquiring an additional 398 shares during the last quarter. True Wealth Design LLC acquired a new stake in shares of Smartsheet during the third quarter worth $41,000. Finally, Longfellow Investment Management Co. LLC acquired a new stake in shares of Smartsheet in the 3rd quarter worth $48,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In other news, insider Jolene Lau Marshall sold 2,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were 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 owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. The trade was a 10.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Patrick Mader sold 47,916 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total transaction of $2,681,379.36. Following the completion of the sale, the chief executive officer now directly owns 624,356 shares in the company, valued at approximately $34,938,961.76. This trade represents a 7.13 % 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 valued at $3,186,069. 4.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SMAR shares. Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Guggenheim lowered shares of Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.82.

Smartsheet Price Performance

SMAR opened at $56.47 on Monday. The company’s 50-day moving average price is $56.30 and its 200 day moving average price is $54.60. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $56.55. The firm 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.

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.