Canal Capital Management LLC Sells 893 Shares of Smartsheet Inc (NYSE:SMAR)

Canal Capital Management LLC cut its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,214 shares of the company’s stock after selling 893 shares during the quarter. Canal Capital Management LLC’s holdings in Smartsheet were worth $404,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in Smartsheet by 157.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,026,505 shares of the company’s stock worth $113,545,000 after purchasing an additional 1,238,300 shares during the period. FIL Ltd increased its stake in shares of Smartsheet by 33.5% in the 4th quarter. FIL Ltd now owns 3,116,000 shares of the company’s stock worth $174,589,000 after acquiring an additional 781,300 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Smartsheet by 47.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,054,433 shares of the company’s stock worth $115,110,000 after acquiring an additional 664,871 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Smartsheet by 447.1% in the fourth quarter. Alliancebernstein L.P. now owns 598,762 shares of the company’s stock worth $33,549,000 after purchasing an additional 489,321 shares during the period. Finally, Norges Bank bought a new position in shares of Smartsheet during the fourth quarter valued at approximately $25,662,000. 90.01% of the stock is owned by institutional investors.

Smartsheet Price Performance

Shares of SMAR opened at $56.47 on Monday. The stock has a market cap 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. The business’s 50 day moving average price is $56.47 and its 200-day moving average price is $56.24. Smartsheet Inc has a 52 week low of $36.56 and a 52 week high of $56.55.

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.