New York Life Investment Management LLC Takes $7.20 Million Position in Smartsheet Inc (NYSE:SMAR)

New York Life Investment Management LLC acquired a new stake in Smartsheet Inc (NYSE:SMAR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 128,454 shares of the company’s stock, valued at approximately $7,197,000. New York Life Investment Management LLC owned about 0.09% of Smartsheet at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Creative Planning grew its holdings in Smartsheet by 7.2% in the third quarter. Creative Planning now owns 10,779 shares of the company’s stock valued at $597,000 after purchasing an additional 721 shares during the period. International Assets Investment Management LLC grew its holdings in Smartsheet by 5,435.9% in the third quarter. International Assets Investment Management LLC now owns 31,887 shares of the company’s stock valued at $1,765,000 after purchasing an additional 31,311 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Smartsheet by 294.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 28,649 shares of the company’s stock valued at $1,586,000 after purchasing an additional 21,384 shares during the period. Congress Asset Management Co. purchased a new stake in Smartsheet in the third quarter valued at approximately $3,666,000. Finally, US Bancorp DE grew its holdings in Smartsheet by 12.9% in the third quarter. US Bancorp DE now owns 1,749 shares of the company’s stock valued at $97,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Smartsheet Stock Performance

Shares of NYSE SMAR opened at $56.47 on Friday. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55. The stock’s 50-day simple moving average is $56.35 and its 200-day simple moving average is $54.83. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71.

Wall Street Analysts Forecast Growth

SMAR has been the subject of a number of recent analyst reports. Guggenheim downgraded shares of Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Seventeen investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Smartsheet currently has an average rating of “Hold” and an average target price of $56.50.

Insider Buying and Selling

In related news, CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jolene Lau Marshall sold 2,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $55.99, for a total value of $111,980.00. Following the completion of the transaction, the insider now owns 19,739 shares in the company, valued at approximately $1,105,186.61. This trade represents a 9.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,916 shares of company stock worth $3,186,069. 4.52% of the stock is currently owned by corporate insiders.

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.