Xponance Inc. Acquires 879 Shares of Smartsheet Inc (NYSE:SMAR)

Xponance Inc. boosted its holdings in Smartsheet Inc (NYSE:SMAR) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,032 shares of the company’s stock after acquiring an additional 879 shares during the period. Xponance Inc.’s holdings in Smartsheet were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SMAR. Citigroup Inc. raised its position in shares of Smartsheet by 2,767.1% in the third quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock valued at $45,589,000 after purchasing an additional 794,779 shares during the period. Polar Asset Management Partners Inc. acquired a new position in Smartsheet in the 3rd quarter valued at about $39,029,000. Westchester Capital Management LLC bought a new position in Smartsheet in the 3rd quarter valued at about $24,772,000. Glenmede Trust Co. NA raised its holdings in Smartsheet by 464.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 531,557 shares of the company’s stock valued at $29,427,000 after acquiring an additional 437,371 shares during the period. Finally, ING Groep NV lifted its position in Smartsheet by 109.0% during the fourth quarter. ING Groep NV now owns 727,500 shares of the company’s stock worth $40,762,000 after acquiring an additional 379,400 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In other Smartsheet news, CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.07, for a total transaction of $280,350.00. Following the completion of the transaction, the chief executive officer now directly owns 619,515 shares in the company, valued at $34,736,206.05. The trade was a 0.80 % 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, 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 owns 17,739 shares of the company’s stock, valued at $996,577.02. The trade was 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 company insiders.

Smartsheet Stock Performance

SMAR opened at $56.47 on Monday. Smartsheet Inc has a 52-week low of $36.27 and a 52-week high of $56.55. The firm has a market cap of $7.91 billion, a P/E ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71. The business’s fifty day moving average is $56.46 and its 200-day moving average is $55.72.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $57.00.

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.