Smartsheet Inc (NYSE:SMAR) Holdings Lifted by FNY Investment Advisers LLC

FNY Investment Advisers LLC lifted its stake in Smartsheet Inc (NYSE:SMAR) by 1,399.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,254 shares of the company’s stock after purchasing an additional 70,236 shares during the period. Smartsheet accounts for about 2.2% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 3rd biggest holding. FNY Investment Advisers LLC owned about 0.05% of Smartsheet worth $4,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. increased its holdings in shares of Smartsheet by 699.9% in the 2nd quarter. American Century Companies Inc. now owns 59,454 shares of the company’s stock worth $2,621,000 after purchasing an additional 52,021 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Smartsheet by 590.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 18,248 shares of the company’s stock worth $791,000 after acquiring an additional 15,604 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Smartsheet by 107.3% during the second quarter. Dimensional Fund Advisors LP now owns 831,709 shares of the company’s stock valued at $36,660,000 after acquiring an additional 430,481 shares during the period. Andar Capital Management HK Ltd purchased a new position in shares of Smartsheet in the second quarter worth $1,984,000. Finally, Amalgamated Bank grew its position in shares of Smartsheet by 3.5% during the second quarter. Amalgamated Bank now owns 8,678 shares of the company’s stock valued at $383,000 after purchasing an additional 294 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SMAR has been the topic of several analyst reports. Canaccord Genuity Group cut Smartsheet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Barclays raised their target price on shares of Smartsheet from $50.00 to $56.50 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Truist Financial reaffirmed a “hold” rating and issued a $56.50 price objective (down from $60.00) on shares of Smartsheet in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.50 target price (down previously from $60.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $56.50 price objective on shares of Smartsheet in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Smartsheet has an average rating of “Hold” and a consensus target price of $55.82.

Insider Activity at Smartsheet

In other Smartsheet news, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $56.05, for a total value of $280,250.00. Following the completion of the sale, the chief executive officer now directly owns 578,762 shares of the company’s stock, valued at $32,439,610.10. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jolene Lau Marshall sold 3,205 shares of Smartsheet stock in a transaction on Friday, November 15th. The stock was sold at an average price of $55.92, for a total value of $179,223.60. Following the transaction, the insider now owns 18,695 shares in the company, valued at approximately $1,045,424.40. This represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,121 shares of company stock valued at $3,645,543. 4.52% of the stock is currently owned by insiders.

Smartsheet Trading Down 0.1 %

Shares of NYSE SMAR opened at $56.33 on Tuesday. The company has a 50-day moving average of $56.02 and a 200 day moving average of $52.38. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55. The stock has a market cap of $7.89 billion, a PE ratio of -938.83, a P/E/G ratio of 82.24 and a beta of 0.71.

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.