Smartsheet Inc (NYSE:SMAR) Shares Purchased by Entropy Technologies LP

Entropy Technologies LP grew its position in shares of Smartsheet Inc (NYSE:SMAR) by 144.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,461 shares of the company’s stock after purchasing an additional 22,759 shares during the period. Entropy Technologies LP’s holdings in Smartsheet were worth $2,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SMAR. SYM FINANCIAL Corp acquired a new position in Smartsheet in the fourth quarter valued at $278,000. Chicago Partners Investment Group LLC acquired a new stake in Smartsheet in the 4th quarter valued at $394,000. Gries Financial LLC raised its holdings in shares of Smartsheet by 16.6% during the 4th quarter. Gries Financial LLC now owns 6,013 shares of the company’s stock valued at $337,000 after buying an additional 855 shares during the period. KBC Group NV lifted its position in shares of Smartsheet by 30.8% during the fourth quarter. KBC Group NV now owns 4,855 shares of the company’s stock worth $272,000 after purchasing an additional 1,143 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in Smartsheet by 6.8% in the 4th quarter. Flagship Harbor Advisors LLC now owns 7,596 shares of the company’s stock worth $426,000 after buying an additional 482 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Smartsheet Price Performance

SMAR stock opened at $56.47 on Monday. The firm 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. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $56.55. The firm has a 50 day simple moving average of $56.21 and a 200 day simple moving average of $53.87.

Insider Buying and Selling at Smartsheet

In related news, insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,105,186.61. This trade represents a 9.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of Smartsheet stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.07, for a total transaction of $280,350.00. Following the sale, the chief executive officer now directly owns 619,515 shares of the company’s stock, 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. Over the last 90 days, insiders have sold 60,121 shares of company stock valued at $3,365,293. Corporate insiders own 4.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on SMAR. Guggenheim cut Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $56.50 price objective on shares of Smartsheet in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $55.82.

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.