Washington Capital Management Inc. Has $649,000 Position in Smartsheet Inc (NYSE:SMAR)

Washington Capital Management Inc. decreased its position in shares of Smartsheet Inc (NYSE:SMAR) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,575 shares of the company’s stock after selling 2,400 shares during the quarter. Washington Capital Management Inc.’s holdings in Smartsheet were worth $649,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SMAR. Fifth Third Bancorp bought a new stake in Smartsheet during the fourth quarter worth $26,000. Brooklyn Investment Group acquired a new position in Smartsheet during the 3rd quarter worth approximately $28,000. Raleigh Capital Management Inc. acquired a new stake in Smartsheet in the third quarter valued at approximately $31,000. Waldron Private Wealth LLC acquired a new stake in Smartsheet in the third quarter valued at approximately $33,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Smartsheet by 123.2% during the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after buying an additional 398 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Smartsheet

In other news, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $56.05, for a total transaction of $280,250.00. Following the transaction, the chief executive officer now owns 578,762 shares of the company’s stock, valued at $32,439,610.10. This represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jolene Lau Marshall sold 3,205 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $55.92, for a total value of $179,223.60. Following the completion of the sale, the insider now directly owns 18,695 shares of the company’s stock, valued at $1,045,424.40. The trade was a 14.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,121 shares of company stock valued at $3,645,543. 4.52% of the stock is currently owned by company insiders.

Smartsheet Price Performance

NYSE SMAR opened at $56.47 on Thursday. The stock 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. The business has a 50 day simple moving average of $56.14 and a 200 day simple moving average of $53.37. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55.

Wall Street Analyst Weigh In

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

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.