Zurcher Kantonalbank Zurich Cantonalbank Purchases 5,750 Shares of Smartsheet Inc (NYSE:SMAR)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Smartsheet Inc (NYSE:SMAR) by 19.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,057 shares of the company’s stock after purchasing an additional 5,750 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Smartsheet were worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in Smartsheet during the 4th quarter valued at $25,000. Fifth Third Bancorp bought a new position in shares of Smartsheet in the 4th quarter worth $26,000. Brooklyn Investment Group bought a new position in shares of Smartsheet in the 3rd quarter worth $28,000. True Wealth Design LLC bought a new position in shares of Smartsheet in the 3rd quarter worth $41,000. Finally, Longfellow Investment Management Co. LLC bought a new position in shares of Smartsheet in the 3rd quarter worth $48,000. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Seventeen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $57.00.

Insider Buying and Selling at Smartsheet

In other news, 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 completion of the transaction, the chief executive officer now owns 624,356 shares of the company’s stock, valued at $34,938,961.76. The trade was a 7.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jolene Lau Marshall sold 2,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total value of $112,360.00. Following the completion of the transaction, the insider now directly owns 17,739 shares of the company’s stock, valued at approximately $996,577.02. This trade represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,916 shares of company stock worth $3,074,089. 4.52% of the stock is currently owned by insiders.

Smartsheet Stock Performance

Smartsheet stock opened at $56.47 on Monday. The business’s 50-day simple moving average is $56.43 and its two-hundred day simple moving average is $55.43. The company has a market cap of $7.91 billion, a PE ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71. Smartsheet Inc has a fifty-two week low of $36.27 and a fifty-two week high of $56.55.

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.