73,445 Shares in Smartsheet Inc (NYSE:SMAR) Bought by Mint Tower Capital Management B.V.

Mint Tower Capital Management B.V. purchased a new position in Smartsheet Inc (NYSE:SMAR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 73,445 shares of the company’s stock, valued at approximately $4,115,000. Smartsheet makes up approximately 1.0% of Mint Tower Capital Management B.V.’s holdings, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SMAR. Polar Asset Management Partners Inc. purchased a new position in shares of Smartsheet during the third quarter worth approximately $39,029,000. Westchester Capital Management LLC bought a new position in shares of Smartsheet during the 3rd quarter valued at $24,772,000. Glenmede Trust Co. NA raised its position in Smartsheet by 464.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 531,557 shares of the company’s stock worth $29,427,000 after purchasing an additional 437,371 shares during the period. Decagon Asset Management LLP bought a new stake in Smartsheet in the fourth quarter worth $24,232,000. Finally, ING Groep NV boosted its position in Smartsheet by 109.0% during the fourth quarter. ING Groep NV now owns 727,500 shares of the company’s stock valued at $40,762,000 after buying an additional 379,400 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Sixteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $57.00.

Smartsheet Price Performance

Shares of SMAR stock opened at $56.47 on Thursday. The firm 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. The stock has a fifty day moving average of $56.47 and a 200 day moving average of $55.80. Smartsheet Inc has a 52 week low of $36.27 and a 52 week high of $56.55.

Insiders Place Their Bets

In related news, insider Jolene Lau Marshall sold 2,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total value of $112,360.00. Following the sale, the insider now directly owns 17,739 shares of the company’s stock, valued at $996,577.02. This represents a 10.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.07, for a total value of $280,350.00. Following the transaction, the chief executive officer now directly owns 619,515 shares of the company’s stock, valued at $34,736,206.05. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.52% of the company’s stock.

Smartsheet 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.