Syquant Capital Sas Takes Position in Smartsheet Inc (NYSE:SMAR)

Syquant Capital Sas purchased a new position in shares of Smartsheet Inc (NYSE:SMAR) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 275,349 shares of the company’s stock, valued at approximately $15,428,000. Smartsheet makes up about 21.9% of Syquant Capital Sas’ investment portfolio, making the stock its 3rd biggest position.

Several other large investors have also bought and sold shares of SMAR. Victory Capital Management Inc. increased its stake in Smartsheet by 342.0% in the second quarter. Victory Capital Management Inc. now owns 236,914 shares of the company’s stock valued at $10,443,000 after purchasing an additional 183,313 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Smartsheet by 699.9% in the 2nd quarter. American Century Companies Inc. now owns 59,454 shares of the company’s stock valued at $2,621,000 after buying an additional 52,021 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Smartsheet by 590.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 18,248 shares of the company’s stock valued at $791,000 after buying an additional 15,604 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Smartsheet by 107.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 831,709 shares of the company’s stock worth $36,660,000 after buying an additional 430,481 shares during the period. Finally, Andar Capital Management HK Ltd bought a new position in Smartsheet during the second quarter worth about $1,984,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on SMAR. Wells Fargo & Company reiterated an “equal weight” rating and set a $57.00 price objective on shares of Smartsheet in a report on Tuesday, September 24th. Truist Financial reiterated a “hold” rating and issued a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.50 price objective (down from $60.00) on shares of Smartsheet in a report on Tuesday, September 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Finally, Guggenheim downgraded Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. One research 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’s stock. According to data from MarketBeat.com, Smartsheet presently has a consensus rating of “Hold” and a consensus price target of $55.82.

Smartsheet Price Performance

Shares of NYSE SMAR remained flat at $56.37 during trading hours on Monday. The stock had a trading volume of 1,288,190 shares, compared to its average volume of 3,182,053. The company’s 50 day simple moving average is $56.01 and its two-hundred day simple moving average is $52.29. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55. The company has a market cap of $7.89 billion, a price-to-earnings ratio of -939.50, a price-to-earnings-growth ratio of 82.24 and a beta of 0.71.

Insider Activity

In related news, insider Jolene Lau Marshall sold 3,205 shares of Smartsheet stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $55.92, for a total transaction of $179,223.60. Following the sale, the insider now directly owns 18,695 shares of the company’s stock, valued at approximately $1,045,424.40. The trade was a 14.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Patrick Mader sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was 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 approximately $32,439,610.10. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,121 shares of company stock worth $3,645,543. Corporate insiders own 4.52% of the company’s stock.

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.