Norges Bank Acquires Shares of 458,005 Smartsheet Inc (NYSE:SMAR)

Norges Bank acquired a new stake in Smartsheet Inc (NYSE:SMAR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 458,005 shares of the company’s stock, valued at approximately $25,662,000. Norges Bank owned approximately 0.33% of Smartsheet at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Smartsheet in the 4th quarter valued at about $25,000. Fifth Third Bancorp acquired a new position in shares of Smartsheet during the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Smartsheet by 737.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 536 shares of the company’s stock valued at $30,000 after acquiring an additional 472 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Smartsheet by 27.5% in the fourth quarter. Venturi Wealth Management LLC now owns 1,549 shares of the company’s stock worth $87,000 after acquiring an additional 334 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Smartsheet by 592.2% during the fourth quarter. IFP Advisors Inc now owns 2,381 shares of the company’s stock worth $133,000 after purchasing an additional 2,037 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Smartsheet Stock Performance

Shares of SMAR stock opened at $56.47 on Monday. Smartsheet Inc has a fifty-two week low of $36.27 and a fifty-two week high of $56.55. The stock’s fifty day moving average is $56.47 and its two-hundred day moving average is $56.07. The firm has a market capitalization of $7.91 billion, a P/E ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71.

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.