Abacus FCF Advisors LLC Takes $877,000 Position in Smartsheet Inc (NYSE:SMAR)

Abacus FCF Advisors LLC bought a new position in shares of Smartsheet Inc (NYSE:SMAR) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,646 shares of the company’s stock, valued at approximately $877,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Capula Management Ltd raised its stake in Smartsheet by 110.0% in the fourth quarter. Capula Management Ltd now owns 455,678 shares of the company’s stock valued at $25,532,000 after buying an additional 238,678 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Smartsheet by 157.1% in the 4th quarter. Renaissance Technologies LLC now owns 2,026,505 shares of the company’s stock valued at $113,545,000 after acquiring an additional 1,238,300 shares during the last quarter. Bank of Nova Scotia raised its position in shares of Smartsheet by 785.0% during the 4th quarter. Bank of Nova Scotia now owns 177,000 shares of the company’s stock worth $9,917,000 after acquiring an additional 157,000 shares in the last quarter. FIL Ltd raised its position in shares of Smartsheet by 33.5% during the 4th quarter. FIL Ltd now owns 3,116,000 shares of the company’s stock worth $174,589,000 after acquiring an additional 781,300 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Smartsheet by 1.1% during the fourth quarter. Invesco Ltd. now owns 114,489 shares of the company’s stock worth $6,415,000 after purchasing an additional 1,250 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Smartsheet Price Performance

Shares of Smartsheet stock opened at $56.47 on Wednesday. Smartsheet Inc has a 52 week low of $36.27 and a 52 week high of $56.55. The firm’s 50 day moving average is $56.47 and its two-hundred day moving average is $56.14. The firm has a market capitalization of $7.91 billion, a P/E ratio of -941.17, a P/E/G ratio of 82.90 and a beta of 0.71.

About Smartsheet

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.