GABELLI & Co INVESTMENT ADVISERS INC. Purchases 214,500 Shares of Smartsheet Inc (NYSE:SMAR)

GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Smartsheet Inc (NYSE:SMAR) by 201.0% in the 4th quarter, Holdings Channel reports. The firm owned 321,200 shares of the company’s stock after acquiring an additional 214,500 shares during the quarter. Smartsheet accounts for about 3.1% of GABELLI & Co INVESTMENT ADVISERS INC.’s portfolio, making the stock its 5th largest position. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Smartsheet were worth $17,997,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Smartsheet by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 14,235,855 shares of the company’s stock valued at $797,635,000 after buying an additional 365,851 shares in the last quarter. FNY Investment Advisers LLC grew its holdings in shares of Smartsheet by 1,399.7% in the fourth quarter. FNY Investment Advisers LLC now owns 75,254 shares of the company’s stock valued at $4,216,000 after purchasing an additional 70,236 shares during the period. Syquant Capital Sas acquired a new stake in Smartsheet during the fourth quarter worth about $15,428,000. Nordea Investment Management AB raised its stake in Smartsheet by 11.0% during the fourth quarter. Nordea Investment Management AB now owns 196,922 shares of the company’s stock worth $11,031,000 after purchasing an additional 19,563 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Smartsheet by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,282,883 shares of the company’s stock worth $71,880,000 after purchasing an additional 4,218 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Smartsheet Price Performance

Smartsheet stock opened at $56.47 on Tuesday. The firm has a 50 day simple moving average of $56.47 and a 200-day simple moving average of $56.21. The stock 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 Inc has a 1-year low of $36.27 and a 1-year high of $56.55.

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.