Trexquant Investment LP Buys 137,014 Shares of Smartsheet Inc (NYSE:SMAR)

Trexquant Investment LP raised its stake in Smartsheet Inc (NYSE:SMAR) by 307.6% in the fourth quarter, Holdings Channel reports. The firm owned 181,561 shares of the company’s stock after acquiring an additional 137,014 shares during the quarter. Trexquant Investment LP’s holdings in Smartsheet were worth $10,173,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Smartsheet by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 2,249,238 shares of the company’s stock valued at $126,065,000 after buying an additional 18,188 shares during the last quarter. Franklin Resources Inc. lifted its stake in Smartsheet by 97.9% in the fourth quarter. Franklin Resources Inc. now owns 104,955 shares of the company’s stock valued at $5,881,000 after acquiring an additional 51,934 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Smartsheet by 447.1% in the 4th quarter. Alliancebernstein L.P. now owns 598,762 shares of the company’s stock valued at $33,549,000 after acquiring an additional 489,321 shares during the period. California Public Employees Retirement System increased its stake in shares of Smartsheet by 170.6% during the 4th quarter. California Public Employees Retirement System now owns 610,289 shares of the company’s stock worth $34,194,000 after purchasing an additional 384,753 shares during the last quarter. Finally, Varenne Capital Partners bought a new stake in shares of Smartsheet in the 4th quarter valued at about $2,642,000. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Sixteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $57.00.

Insider Buying and Selling

In related news, CEO Mark Patrick Mader sold 5,000 shares of the business’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 value 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. The trade was a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.52% of the stock is owned by insiders.

Smartsheet Stock Performance

SMAR opened at $56.47 on Thursday. The stock has a fifty day moving average of $56.47 and a 200-day moving average of $55.98. The company has a market capitalization 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. Smartsheet Inc has a fifty-two week low of $36.27 and a fifty-two week high of $56.55.

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.