Savant Capital LLC Purchases 25,833 Shares of Smartsheet Inc (NYSE:SMAR)

Savant Capital LLC raised its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 55.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,218 shares of the company’s stock after buying an additional 25,833 shares during the period. Savant Capital LLC owned about 0.05% of Smartsheet worth $4,046,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Citigroup Inc. lifted its holdings in Smartsheet by 2,767.1% during the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock valued at $45,589,000 after buying an additional 794,779 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of Smartsheet during the third quarter worth approximately $39,029,000. Alpine Associates Management Inc. purchased a new position in shares of Smartsheet during the third quarter worth approximately $28,029,000. Westchester Capital Management LLC bought a new stake in shares of Smartsheet during the third quarter valued at approximately $24,772,000. Finally, Glenmede Trust Co. NA boosted its holdings in shares of Smartsheet by 464.4% in the third quarter. Glenmede Trust Co. NA now owns 531,557 shares of the company’s stock valued at $29,427,000 after purchasing an additional 437,371 shares during the period. Institutional investors own 90.01% of the company’s stock.

Smartsheet Price Performance

NYSE SMAR opened at $56.47 on Wednesday. The company has a fifty day moving average of $56.22 and a two-hundred day moving average of $53.98. The company has a market capitalization 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 1 year low of $35.52 and a 1 year high of $56.55.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SMAR shares. Royal Bank of Canada reissued a “sector perform” rating and set a $56.50 price target on shares of Smartsheet in a research report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Finally, Guggenheim lowered shares of Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $55.82.

Insiders Place Their Bets

In related news, CEO Mark Patrick Mader sold 47,916 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 624,356 shares of the company’s stock, valued at $34,938,961.76. This represents a 7.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jolene Lau Marshall sold 3,205 shares of the company’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 transaction, the insider now directly owns 18,695 shares in the company, valued at approximately $1,045,424.40. This trade represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,121 shares of company stock valued at $3,365,293. Insiders own 4.52% of the company’s stock.

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.