Bank of New York Mellon Corp Decreases Stock Position in Smartsheet Inc (NYSE:SMAR)

Bank of New York Mellon Corp lowered its stake in Smartsheet Inc (NYSE:SMAR) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 642,415 shares of the company’s stock after selling 71,058 shares during the period. Bank of New York Mellon Corp owned approximately 0.46% of Smartsheet worth $35,995,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. US Bancorp DE increased its holdings in shares of Smartsheet by 12.9% in the third quarter. US Bancorp DE now owns 1,749 shares of the company’s stock worth $97,000 after buying an additional 200 shares during the period. Landscape Capital Management L.L.C. grew its stake in shares of Smartsheet by 0.3% in the third quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock worth $4,596,000 after purchasing an additional 225 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Smartsheet by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 4,242 shares of the company’s stock worth $238,000 after purchasing an additional 227 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Smartsheet by 25.5% in the third quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock worth $62,000 after purchasing an additional 228 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Smartsheet by 2.4% in the third quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock worth $639,000 after purchasing an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Transactions at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of Smartsheet stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $55.99, for a total transaction of $111,980.00. Following the completion of the transaction, the insider now owns 19,739 shares in the company, valued at approximately $1,105,186.61. The trade was a 9.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Patrick Mader sold 5,000 shares of Smartsheet stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.07, for a total transaction of $280,350.00. Following the transaction, the chief executive officer now owns 619,515 shares of the company’s stock, valued at approximately $34,736,206.05. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,916 shares of company stock worth $3,186,069. Company insiders own 4.52% of the company’s stock.

Wall Street Analyst Weigh In

SMAR has been the topic of several research reports. Guggenheim cut 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.50.

Smartsheet Price Performance

NYSE SMAR opened at $56.47 on Friday. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $56.55. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71. The firm’s fifty day moving average price is $56.39 and its 200 day moving average price is $55.10.

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.