Larson Financial Group LLC Has $708,000 Stake in Smartsheet Inc (NYSE:SMAR)

Larson Financial Group LLC reduced its position in shares of Smartsheet Inc (NYSE:SMAR) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,643 shares of the company’s stock after selling 610 shares during the period. Larson Financial Group LLC’s holdings in Smartsheet were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SMAR. US Bancorp DE increased its holdings in shares of Smartsheet by 12.9% during the third quarter. US Bancorp DE now owns 1,749 shares of the company’s stock worth $97,000 after purchasing an additional 200 shares during the period. Amalgamated Bank grew its position in Smartsheet by 2.6% during the fourth quarter. Amalgamated Bank now owns 8,709 shares of the company’s stock worth $488,000 after buying an additional 217 shares in the last quarter. Landscape Capital Management L.L.C. increased its stake in Smartsheet by 0.3% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock worth $4,596,000 after acquiring an additional 225 shares during the period. CIBC Asset Management Inc raised its holdings in Smartsheet by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 4,242 shares of the company’s stock valued at $238,000 after acquiring an additional 227 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Smartsheet by 25.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock valued at $62,000 after acquiring an additional 228 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Mark Patrick Mader sold 47,916 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $55.96, for a total transaction 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 approximately $34,938,961.76. This trade represents a 7.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction on 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 approximately $996,577.02. This trade represents a 10.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,916 shares of company stock valued at $3,186,069 in the last 90 days. Corporate insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

Shares of SMAR opened at $56.47 on Monday. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $56.55. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71. The stock has a fifty day moving average of $56.39 and a 200-day moving average of $55.18.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SMAR. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research report on Friday, December 6th. Guggenheim downgraded shares of Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. Seventeen research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.50.

Smartsheet 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.