Varenne Capital Partners Purchases New Position in Smartsheet Inc (NYSE:SMAR)

Varenne Capital Partners acquired a new position in Smartsheet Inc (NYSE:SMAR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 47,157 shares of the company’s stock, valued at approximately $2,642,000. Smartsheet accounts for about 0.8% of Varenne Capital Partners’ holdings, making the stock its 14th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zacks Investment Management purchased a new stake in shares of Smartsheet in the third quarter worth about $4,551,000. Verition Fund Management LLC lifted its stake in Smartsheet by 1,149.0% in the 3rd quarter. Verition Fund Management LLC now owns 322,103 shares of the company’s stock worth $17,832,000 after purchasing an additional 296,314 shares in the last quarter. Maven Securities LTD bought a new position in Smartsheet in the 3rd quarter valued at $3,875,000. FNY Investment Advisers LLC increased its holdings in shares of Smartsheet by 1,399.7% in the fourth quarter. FNY Investment Advisers LLC now owns 75,254 shares of the company’s stock worth $4,216,000 after purchasing an additional 70,236 shares during the period. Finally, Syquant Capital Sas purchased a new stake in shares of Smartsheet in the fourth quarter worth $15,428,000. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Smartsheet

In other Smartsheet news, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was 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 in the company, valued at approximately $34,736,206.05. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jolene Lau Marshall sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 17,739 shares in the company, valued at $996,577.02. This trade represents a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.52% of the stock is currently owned by corporate insiders.

Smartsheet Stock Performance

NYSE:SMAR opened at $56.47 on Friday. Smartsheet Inc has a fifty-two week low of $36.27 and a fifty-two week high of $56.55. The firm has a market cap 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. The business has a 50 day moving average price of $56.47 and a 200-day moving average price of $55.87.

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.