Crescent Grove Advisors LLC Sells 19,610 Shares of Smartsheet Inc (NYSE:SMAR)

Crescent Grove Advisors LLC reduced its stake in shares of Smartsheet Inc (NYSE:SMAR) by 43.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,476 shares of the company’s stock after selling 19,610 shares during the period. Crescent Grove Advisors LLC’s holdings in Smartsheet were worth $1,427,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SMAR. Flagship Harbor Advisors LLC grew its position in Smartsheet by 6.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 7,596 shares of the company’s stock worth $426,000 after acquiring an additional 482 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Smartsheet in the fourth quarter worth approximately $26,000. SG Americas Securities LLC grew its holdings in shares of Smartsheet by 61.8% in the fourth quarter. SG Americas Securities LLC now owns 8,680 shares of the company’s stock worth $486,000 after purchasing an additional 3,316 shares during the last quarter. Clarius Group LLC raised its holdings in Smartsheet by 4.6% during the 4th quarter. Clarius Group LLC now owns 150,897 shares of the company’s stock valued at $8,455,000 after buying an additional 6,685 shares during the last quarter. Finally, Merit Financial Group LLC purchased a new stake in Smartsheet during the 4th quarter valued at $809,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, insider Jolene Lau Marshall sold 3,205 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $55.92, for a total transaction of $179,223.60. Following the completion of the transaction, the insider now directly owns 18,695 shares in the company, valued at $1,045,424.40. This trade represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Patrick Mader sold 47,916 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total transaction of $2,681,379.36. Following the completion of the transaction, the chief executive officer now owns 624,356 shares in the company, valued at approximately $34,938,961.76. The trade was a 7.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,121 shares of company stock valued at $3,645,543 over the last quarter. Corporate insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

Shares of SMAR stock opened at $56.47 on Friday. The company’s fifty day moving average price is $56.11 and its 200-day moving average price is $53.05. The stock has a market cap of $7.91 billion, a PE ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $56.55.

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.