Smartsheet Inc (NYSE:SMAR) Stock Position Boosted by Versor Investments LP

Versor Investments LP increased its position in shares of Smartsheet Inc (NYSE:SMAR) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,272 shares of the company’s stock after purchasing an additional 1,741 shares during the quarter. Smartsheet makes up approximately 1.1% of Versor Investments LP’s investment portfolio, making the stock its 9th largest position. Versor Investments LP owned about 0.08% of Smartsheet worth $6,123,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SMAR. Fifth Third Bancorp purchased a new stake in Smartsheet in the 4th quarter valued at $26,000. Brooklyn Investment Group acquired a new stake in Smartsheet during the third quarter worth about $28,000. Farther Finance Advisors LLC increased 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 purchasing an additional 398 shares during the last quarter. True Wealth Design LLC purchased a new position in Smartsheet during the third quarter worth about $41,000. Finally, Longfellow Investment Management Co. LLC acquired a new position in Smartsheet in the 3rd quarter valued at about $48,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Smartsheet Stock Performance

Shares of Smartsheet stock opened at $56.47 on Thursday. The business has a 50-day simple moving average of $56.33 and a 200-day simple moving average of $54.76. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55. The company has a market cap of $7.91 billion, a PE ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SMAR shares. Guggenheim lowered shares of Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Seventeen research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.50.

Insider Buying and Selling

In other news, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction 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 completion of the sale, the insider now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 619,515 shares in the company, valued at $34,736,206.05. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,916 shares of company stock worth $3,186,069 over the last 90 days. 4.52% of the stock is owned by insiders.

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.