Smartsheet Inc (NYSE:SMAR) Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC increased its stake in Smartsheet Inc (NYSE:SMAR) by 306.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,239 shares of the company’s stock after acquiring an additional 31,839 shares during the period. Wolverine Asset Management LLC’s holdings in Smartsheet were worth $2,367,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. US Bancorp DE raised its stake in shares of Smartsheet by 12.9% in the third quarter. US Bancorp DE now owns 1,749 shares of the company’s stock valued at $97,000 after acquiring an additional 200 shares in the last quarter. Landscape Capital Management L.L.C. raised its stake in shares of Smartsheet by 0.3% in the third quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock valued at $4,596,000 after acquiring an additional 225 shares in the last quarter. CIBC Asset Management Inc raised 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 acquiring an additional 227 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Smartsheet by 25.5% in the third quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock valued at $62,000 after acquiring an additional 228 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Smartsheet by 2.4% in the third quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock valued at $639,000 after buying an additional 266 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Smartsheet

In other news, CEO Mark Patrick Mader sold 5,000 shares of Smartsheet stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.07, for a total transaction of $280,350.00. Following the completion of the sale, the chief executive officer now directly owns 619,515 shares in the company, valued at approximately $34,736,206.05. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet 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 sale, the insider now owns 19,739 shares of the company’s stock, valued at approximately $1,105,186.61. The trade was a 9.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,916 shares of company stock valued at $3,186,069. 4.52% of the stock is owned by corporate insiders.

Smartsheet Price Performance

NYSE SMAR opened at $56.47 on Friday. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $56.55. The business’s 50-day moving average price is $56.29 and its 200 day moving average price is $54.38. The firm has a market cap of $7.91 billion, a P/E ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71.

Analysts Set New Price Targets

A number of analysts have weighed in on SMAR shares. Guggenheim cut Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.