SYM FINANCIAL Corp Buys Shares of 4,956 Smartsheet Inc (NYSE:SMAR)

SYM FINANCIAL Corp purchased a new position 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 purchased 4,956 shares of the company’s stock, valued at approximately $278,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its position in Smartsheet by 6.2% in the third quarter. State Street Corp now owns 2,492,949 shares of the company’s stock valued at $138,010,000 after purchasing an additional 146,353 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Smartsheet by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock worth $123,545,000 after buying an additional 52,293 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Smartsheet by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,665 shares of the company’s stock valued at $70,787,000 after acquiring an additional 20,643 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Smartsheet by 33.9% in the third quarter. Los Angeles Capital Management LLC now owns 835,940 shares of the company’s stock valued at $46,278,000 after acquiring an additional 211,632 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in Smartsheet by 2,767.1% during the third quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock worth $45,589,000 after acquiring an additional 794,779 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Smartsheet news, CEO Mark Patrick Mader sold 5,000 shares of the firm’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 value of $280,350.00. Following the sale, the chief executive officer now owns 619,515 shares in the company, valued at $34,736,206.05. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jolene Lau Marshall sold 3,205 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $55.92, for a total transaction of $179,223.60. Following the transaction, the insider now owns 18,695 shares of the company’s stock, valued at $1,045,424.40. This trade represents a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,121 shares of company stock valued at $3,365,293. 4.52% of the stock is owned by company insiders.

Smartsheet Price Performance

SMAR opened at $56.47 on Monday. The company has a market capitalization 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 fifty day simple moving average of $56.17 and a 200 day simple moving average of $53.56. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55.

Analysts Set New Price Targets

Several research firms have weighed in on SMAR. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $56.50 price target on shares of Smartsheet in a research report on Thursday, October 24th. Guggenheim downgraded shares of Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.82.

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.