Smartsheet Inc (NYSE:SMAR) Shares Bought by RAM Investment Partners LLC

RAM Investment Partners LLC raised its holdings in Smartsheet Inc (NYSE:SMAR) by 24.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,414 shares of the company’s stock after purchasing an additional 4,960 shares during the period. Smartsheet accounts for approximately 0.3% of RAM Investment Partners LLC’s portfolio, making the stock its 25th largest holding. RAM Investment Partners LLC’s holdings in Smartsheet were worth $1,424,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Fifth Third Bancorp acquired a new position in Smartsheet in the 4th quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in shares of Smartsheet in the third quarter valued at approximately $28,000. Raleigh Capital Management Inc. acquired a new position in shares of Smartsheet in the third quarter valued at approximately $31,000. Waldron Private Wealth LLC purchased a new position in shares of Smartsheet during the third quarter valued at approximately $33,000. Finally, Farther Finance Advisors LLC boosted its position in Smartsheet by 123.2% during the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after acquiring an additional 398 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jolene Lau Marshall sold 3,205 shares of the business’s stock in a transaction dated 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. The trade was a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.07, for a total value of $280,350.00. Following the sale, the chief executive officer now owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,121 shares of company stock valued at $3,365,293. Corporate insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

Shares of NYSE SMAR opened at $56.47 on Monday. The stock has a fifty day moving average price of $56.21 and a 200 day moving average price of $53.87. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55. The company 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.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $56.50 price target on shares of Smartsheet in a report on Thursday, October 24th. Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reissued 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.82.

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.