Amalgamated Bank Grows Stake in Smartsheet Inc (NYSE:SMAR)

Amalgamated Bank grew its stake in shares of Smartsheet Inc (NYSE:SMAR) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,709 shares of the company’s stock after acquiring an additional 217 shares during the quarter. Amalgamated Bank’s holdings in Smartsheet were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Smartsheet by 592.2% during the fourth quarter. IFP Advisors Inc now owns 2,381 shares of the company’s stock worth $133,000 after buying an additional 2,037 shares in the last quarter. Wolverine Asset Management LLC increased its position in Smartsheet by 306.1% during the fourth quarter. Wolverine Asset Management LLC now owns 42,239 shares of the company’s stock worth $2,367,000 after buying an additional 31,839 shares in the last quarter. ING Groep NV increased 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 buying an additional 379,400 shares in the last quarter. Handelsbanken Fonder AB increased its position in Smartsheet by 7.7% during the fourth quarter. Handelsbanken Fonder AB now owns 32,275 shares of the company’s stock worth $1,808,000 after buying an additional 2,300 shares in the last quarter. Finally, Ieq Capital LLC increased its position in Smartsheet by 1,885.5% during the fourth quarter. Ieq Capital LLC now owns 238,958 shares of the company’s stock worth $13,389,000 after buying an additional 226,923 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SMAR has been the subject of several recent research reports. Guggenheim downgraded Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Seventeen investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.50.

Insider Activity at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total transaction of $112,360.00. Following the transaction, the insider now owns 17,739 shares in the company, valued at $996,577.02. The trade was a 10.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Patrick Mader sold 47,916 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total value of $2,681,379.36. Following the transaction, the chief executive officer now owns 624,356 shares in the company, valued at approximately $34,938,961.76. This represents a 7.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,916 shares of company stock worth $3,186,069. 4.52% of the stock is owned by insiders.

Smartsheet Stock Performance

Shares of Smartsheet stock opened at $56.47 on Wednesday. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $56.55. The stock has a market capitalization of $7.91 billion, a P/E ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71. The business’s fifty day moving average price is $56.37 and its 200 day moving average price is $55.04.

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.