Machina Capital S.A.S. Takes $257,000 Position in Smartsheet Inc (NYSE:SMAR)

Machina Capital S.A.S. acquired a new position in Smartsheet Inc (NYSE:SMAR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,595 shares of the company’s stock, valued at approximately $257,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new position in Smartsheet in the 4th quarter worth approximately $25,000. Fifth Third Bancorp bought a new position in Smartsheet in the 4th quarter worth approximately $26,000. Brooklyn Investment Group bought a new position in Smartsheet in the 3rd quarter worth approximately $28,000. Farther Finance Advisors LLC grew its holdings in Smartsheet by 123.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after buying an additional 398 shares in the last quarter. Finally, True Wealth Design LLC bought a new position in Smartsheet in the 3rd quarter worth approximately $41,000. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SMAR. Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a report on Friday, December 6th. Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Seventeen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Smartsheet has an average rating of “Hold” and an average target price of $56.50.

Insider Activity

In other news, insider Jolene Lau Marshall sold 2,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $55.99, for a total transaction of $111,980.00. Following the completion of the sale, the insider now owns 19,739 shares in the company, valued at approximately $1,105,186.61. This represents a 9.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Patrick Mader sold 5,000 shares of the 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 completion of the sale, the chief executive officer now owns 619,515 shares of the company’s stock, valued at $34,736,206.05. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,916 shares of company stock worth $3,186,069. Insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

Shares of NYSE:SMAR opened at $56.47 on Monday. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55. The stock has a fifty day moving average of $56.39 and a 200-day moving average of $55.18. The company has a market capitalization of $7.91 billion, a PE ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71.

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.