Flinton Capital Management LLC lifted its position in Smartsheet Inc (NYSE:SMAR) by 90.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,142 shares of the company’s stock after buying an additional 1,020 shares during the quarter. Flinton Capital Management LLC’s holdings in Smartsheet were worth $53,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Caz Investments LP grew its stake in shares of Smartsheet by 100.0% in the 4th quarter. Caz Investments LP now owns 1,200 shares of the company’s stock valued at $30,000 after buying an additional 600 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of Smartsheet in the 4th quarter valued at approximately $36,000. Rehmann Capital Advisory Group bought a new stake in shares of Smartsheet in the 3rd quarter valued at approximately $57,000. Bank of New York Mellon Corp grew its stake in shares of Smartsheet by 28.0% in the 4th quarter. Bank of New York Mellon Corp now owns 11,276 shares of the company’s stock valued at $280,000 after buying an additional 2,465 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Smartsheet by 1.4% in the 3rd quarter. Clearbridge Investments LLC now owns 241,470 shares of the company’s stock valued at $7,548,000 after buying an additional 3,290 shares in the last quarter. 49.63% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:SMAR opened at $44.95 on Monday. Smartsheet Inc has a fifty-two week low of $18.06 and a fifty-two week high of $46.29. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09.
Several equities research analysts recently weighed in on SMAR shares. Royal Bank of Canada reduced their target price on Smartsheet from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, November 30th. Morgan Stanley boosted their target price on Smartsheet from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, December 4th. Zacks Investment Research upgraded Smartsheet from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Saturday, December 8th. Finally, Stephens started coverage on Smartsheet in a report on Thursday, January 3rd. They issued an “overweight” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Smartsheet currently has an average rating of “Buy” and a consensus price target of $34.00.
In other news, VP Kara Hamilton sold 2,500 shares of the stock in a transaction on Wednesday, January 9th. The stock was sold at an average price of $26.00, for a total transaction of $65,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brent Frei sold 50,000 shares of the stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $25.03, for a total value of $1,251,500.00. The disclosure for this sale can be found here. Insiders sold 807,133 shares of company stock worth $25,645,268 over the last quarter.
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Smartsheet Inc provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts.
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