Allegiance Financial Group Advisory Services LLC Takes Position in Smartsheet Inc (NYSE:SMAR)

Allegiance Financial Group Advisory Services LLC bought a new stake in shares of Smartsheet Inc (NYSE:SMAR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,193 shares of the company’s stock, valued at approximately $347,000.

Several other large investors have also recently made changes to their positions in the business. US Bancorp DE increased its position in shares of Smartsheet by 12.9% during the 3rd quarter. US Bancorp DE now owns 1,749 shares of the company’s stock valued at $97,000 after purchasing an additional 200 shares during the last quarter. Amalgamated Bank grew its stake in shares of Smartsheet by 2.6% during the 4th quarter. Amalgamated Bank now owns 8,709 shares of the company’s stock worth $488,000 after acquiring an additional 217 shares during the period. Landscape Capital Management L.L.C. grew its stake in shares of Smartsheet by 0.3% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock worth $4,596,000 after acquiring an additional 225 shares during the period. CIBC Asset Management Inc grew its stake in shares of Smartsheet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 4,242 shares of the company’s stock worth $238,000 after acquiring an additional 227 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of Smartsheet by 25.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock worth $62,000 after acquiring an additional 228 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Guggenheim cut 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 price target of $56.50.

Smartsheet Price Performance

NYSE SMAR opened at $56.47 on Thursday. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $56.55. The stock’s 50 day moving average is $56.33 and its 200 day moving average is $54.76. The firm has a market capitalization of $7.91 billion, a PE ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71.

Insider Transactions at Smartsheet

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 transaction of $112,360.00. Following the completion of the sale, the insider now owns 17,739 shares in the company, valued at approximately $996,577.02. This represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of the company’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 sale, the chief executive officer now owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,916 shares of company stock worth $3,186,069 over the last quarter. 4.52% of the stock is currently owned by insiders.

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.