Savant Capital LLC Boosts Stock Holdings in Smartsheet Inc (NYSE:SMAR)

Savant Capital LLC raised its stake in Smartsheet Inc (NYSE:SMAR) by 55.7% during the fourth quarter, Holdings Channel reports. The firm owned 72,218 shares of the company’s stock after purchasing an additional 25,833 shares during the period. Savant Capital LLC’s holdings in Smartsheet were worth $4,046,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. RAM Investment Partners LLC increased its position in Smartsheet by 24.2% during the 4th quarter. RAM Investment Partners LLC now owns 25,414 shares of the company’s stock worth $1,424,000 after purchasing an additional 4,960 shares in the last quarter. Entropy Technologies LP grew its stake in Smartsheet by 144.9% during the fourth quarter. Entropy Technologies LP now owns 38,461 shares of the company’s stock worth $2,155,000 after buying an additional 22,759 shares during the period. SYM FINANCIAL Corp purchased a new stake in Smartsheet during the fourth quarter worth approximately $278,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Smartsheet in the fourth quarter worth $394,000. Finally, Gries Financial LLC raised its stake in shares of Smartsheet by 16.6% in the 4th quarter. Gries Financial LLC now owns 6,013 shares of the company’s stock valued at $337,000 after acquiring an additional 855 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Smartsheet Stock Performance

Shares of NYSE:SMAR opened at $56.47 on Wednesday. The firm has a market cap of $7.91 billion, a PE ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71. The company has a fifty day simple moving average of $56.22 and a 200 day simple moving average of $53.98. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Guggenheim cut shares of Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $56.50 target price on shares of Smartsheet in a research report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $55.82.

Insiders Place Their Bets

In related news, insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $55.99, for a total transaction of $111,980.00. Following the transaction, the insider now directly owns 19,739 shares in the company, valued at $1,105,186.61. This trade represents a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Patrick Mader sold 47,916 shares of Smartsheet stock in a transaction on 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 transaction, the chief executive officer now directly owns 624,356 shares of the company’s stock, valued at approximately $34,938,961.76. This represents a 7.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,121 shares of company stock valued at $3,365,293 in the last ninety days. Corporate insiders own 4.52% of the company’s stock.

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.