Quent Capital LLC Cuts Stock Position in Smartsheet Inc (NYSE:SMAR)

Quent Capital LLC lessened its stake in shares of Smartsheet Inc (NYSE:SMAR) by 21.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 810 shares of the company’s stock after selling 223 shares during the quarter. Quent Capital LLC’s holdings in Smartsheet were worth $45,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Savant Capital LLC raised its stake in shares of Smartsheet by 55.7% during the fourth quarter. Savant Capital LLC now owns 72,218 shares of the company’s stock worth $4,046,000 after purchasing an additional 25,833 shares during the last quarter. RAM Investment Partners LLC raised its stake in shares of Smartsheet by 24.2% during the fourth 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 during the last quarter. Entropy Technologies LP raised its stake in shares of 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 purchasing an additional 22,759 shares during the last quarter. SYM FINANCIAL Corp purchased a new stake in shares of Smartsheet during the fourth quarter worth approximately $278,000. Finally, Chicago Partners Investment Group LLC purchased a new position in Smartsheet in the fourth quarter worth $394,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total value of $112,360.00. Following the sale, the insider now directly owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. This trade represents a 10.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Patrick Mader sold 47,916 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total value of $2,681,379.36. Following the completion of the sale, the chief executive officer now directly owns 624,356 shares in the company, valued at approximately $34,938,961.76. The trade was a 7.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,916 shares of company stock valued at $3,186,069 over the last quarter. Insiders own 4.52% of the company’s stock.

Smartsheet Price Performance

SMAR opened at $56.47 on Friday. The firm has a market cap of $7.91 billion, a P/E ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $56.55. The business’s fifty day simple moving average is $56.24 and its 200 day simple moving average is $54.05.

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.