Smartsheet Inc (NYSE:SMAR) Stake Boosted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC boosted its stake in shares of Smartsheet Inc (NYSE:SMAR) by 737.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 536 shares of the company’s stock after buying an additional 472 shares during the period. EverSource Wealth Advisors LLC’s holdings in Smartsheet were worth $30,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Amalgamated Bank raised its holdings in shares of Smartsheet by 2.6% during the fourth quarter. Amalgamated Bank now owns 8,709 shares of the company’s stock valued at $488,000 after acquiring an additional 217 shares during the period. Landscape Capital Management L.L.C. lifted its holdings in shares of Smartsheet by 0.3% in the third quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock valued at $4,596,000 after purchasing an additional 225 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Smartsheet by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 4,242 shares of the company’s stock worth $238,000 after buying an additional 227 shares during the period. First Horizon Advisors Inc. boosted its position in shares of Smartsheet by 25.5% in the third quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock worth $62,000 after buying an additional 228 shares during the period. Finally, Principal Financial Group Inc. raised its position in Smartsheet by 2.4% during the third quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock valued at $639,000 after buying an additional 266 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Smartsheet

In other news, CEO Mark Patrick Mader sold 5,000 shares of the business’s 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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total transaction of $112,360.00. Following the completion of the transaction, the insider now owns 17,739 shares in the company, valued at $996,577.02. The trade was a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Seventeen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.00.

Smartsheet Price Performance

Smartsheet stock opened at $56.47 on Friday. Smartsheet Inc has a one year low of $36.27 and a one year high of $56.55. The company’s fifty day moving average price is $56.46 and its two-hundred day moving average price is $55.55. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71.

About Smartsheet

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.