Smartsheet Inc (NYSE:SMAR) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its holdings in Smartsheet Inc (NYSE:SMAR) by 7.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,275 shares of the company’s stock after buying an additional 2,300 shares during the quarter. Handelsbanken Fonder AB’s holdings in Smartsheet were worth $1,808,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp purchased a new position in shares of Smartsheet in the 4th quarter valued at about $26,000. Brooklyn Investment Group acquired a new stake in shares of Smartsheet in the 3rd quarter worth approximately $28,000. Farther Finance Advisors LLC raised its holdings in Smartsheet by 123.2% during the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after purchasing an additional 398 shares during the last quarter. True Wealth Design LLC purchased a new stake in Smartsheet during the third quarter worth $41,000. Finally, Longfellow Investment Management Co. LLC acquired a new stake in Smartsheet in the third quarter valued at $48,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Smartsheet Stock Performance

Shares of SMAR stock opened at $56.47 on Wednesday. The company’s 50-day simple moving average is $56.32 and its 200-day simple moving average is $54.74. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55. The stock 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.

Insider Buying and Selling

In other news, CEO Mark Patrick Mader sold 47,916 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total value of $2,681,379.36. Following the sale, the chief executive officer now owns 624,356 shares of the company’s stock, valued at approximately $34,938,961.76. The trade was a 7.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jolene Lau Marshall sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total value of $112,360.00. Following the sale, the insider now owns 17,739 shares of the company’s stock, valued at $996,577.02. This trade represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,916 shares of company stock worth $3,186,069 over the last quarter. 4.52% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on SMAR shares. Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Guggenheim downgraded Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.82.

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.