Decagon Asset Management LLP Invests $24.23 Million in Smartsheet Inc (NYSE:SMAR)

Decagon Asset Management LLP acquired a new position in shares of Smartsheet Inc (NYSE:SMAR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 432,486 shares of the company’s stock, valued at approximately $24,232,000. Smartsheet makes up approximately 8.8% of Decagon Asset Management LLP’s holdings, making the stock its 3rd biggest position. Decagon Asset Management LLP owned approximately 0.31% of Smartsheet at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its holdings in Smartsheet by 6.2% in the third quarter. State Street Corp now owns 2,492,949 shares of the company’s stock valued at $138,010,000 after purchasing an additional 146,353 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Smartsheet by 2.4% in the third quarter. Geode Capital Management LLC now owns 2,231,050 shares of the company’s stock valued at $123,545,000 after purchasing an additional 52,293 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Smartsheet by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,282,883 shares of the company’s stock valued at $71,880,000 after purchasing an additional 4,218 shares in the last quarter. Picton Mahoney Asset Management boosted its holdings in Smartsheet by 10.4% in the fourth quarter. Picton Mahoney Asset Management now owns 945,500 shares of the company’s stock valued at $52,976,000 after purchasing an additional 88,759 shares in the last quarter. Finally, Citigroup Inc. boosted its holdings in Smartsheet by 2,767.1% in the third quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock valued at $45,589,000 after purchasing an additional 794,779 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Smartsheet Price Performance

Smartsheet stock opened at $56.47 on Wednesday. Smartsheet Inc has a 12 month low of $36.27 and a 12 month high of $56.55. The business has a 50 day simple moving average of $56.45 and a 200-day simple moving average of $55.54. The stock has a market capitalization of $7.91 billion, a PE ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71.

Insider Transactions at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 owns 17,739 shares in the company, valued at approximately $996,577.02. This represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the completion of the transaction, the chief executive officer now owns 619,515 shares of the company’s stock, valued at $34,736,206.05. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.52% of the company’s stock.

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.