Arrowstreet Capital Limited Partnership Buys 104,840 Shares of Smartsheet Inc (NYSE:SMAR)

Arrowstreet Capital Limited Partnership grew its stake in Smartsheet Inc (NYSE:SMAR) by 57.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 286,486 shares of the company’s stock after purchasing an additional 104,840 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.20% of Smartsheet worth $16,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Smartsheet by 2.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 33,463 shares of the company’s stock worth $1,853,000 after acquiring an additional 661 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Smartsheet by 3.3% during the third quarter. BNP Paribas Financial Markets now owns 20,359 shares of the company’s stock valued at $1,127,000 after buying an additional 654 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Smartsheet by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 8,428 shares of the company’s stock valued at $467,000 after buying an additional 280 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Smartsheet by 77.5% during the 3rd quarter. Captrust Financial Advisors now owns 13,311 shares of the company’s stock valued at $737,000 after buying an additional 5,811 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Smartsheet by 11.3% in the 3rd quarter. Janus Henderson Group PLC now owns 63,284 shares of the company’s stock worth $3,502,000 after acquiring an additional 6,407 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Sixteen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Smartsheet currently has an average rating of “Hold” and an average target price of $57.00.

Smartsheet Stock Performance

Smartsheet stock opened at $56.47 on Friday. Smartsheet Inc has a 12 month low of $36.27 and a 12 month high of $56.55. The stock has a fifty day simple moving average of $56.47 and a two-hundred day simple moving average of $56.01. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71.

Insider Activity at Smartsheet

In related news, CEO Mark Patrick Mader sold 5,000 shares of the 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 transaction, the chief executive officer now owns 619,515 shares in the company, valued at $34,736,206.05. This represents 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 the SEC website. 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.