Norges Bank Invests $25.66 Million in Smartsheet Inc (NYSE:SMAR)

Norges Bank acquired a new stake in Smartsheet Inc (NYSE:SMAR) in the fourth quarter, Holdings Channel.com reports. The fund acquired 458,005 shares of the company’s stock, valued at approximately $25,662,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zacks Investment Management acquired a new position in Smartsheet in the 3rd quarter valued at about $4,551,000. FNY Investment Advisers LLC raised its position in shares of Smartsheet by 1,399.7% during the 4th quarter. FNY Investment Advisers LLC now owns 75,254 shares of the company’s stock valued at $4,216,000 after buying an additional 70,236 shares during the period. Syquant Capital Sas acquired a new position in Smartsheet in the fourth quarter valued at approximately $15,428,000. Vanguard Group Inc. grew its position in Smartsheet by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 14,235,855 shares of the company’s stock worth $797,635,000 after acquiring an additional 365,851 shares during the period. Finally, Nordea Investment Management AB increased its stake in Smartsheet by 11.0% during the fourth quarter. Nordea Investment Management AB now owns 196,922 shares of the company’s stock worth $11,031,000 after acquiring an additional 19,563 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Smartsheet Price Performance

NYSE:SMAR opened at $56.47 on Monday. Smartsheet Inc has a 52 week low of $36.27 and a 52 week high of $56.55. The stock’s fifty day moving average is $56.47 and its two-hundred day moving average is $56.07. The company has a market capitalization 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.

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.