Victory Capital Management Inc. Sells 189,987 Shares of Smartsheet Inc (NYSE:SMAR)

Victory Capital Management Inc. trimmed its position in shares of Smartsheet Inc (NYSE:SMAR) by 91.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,837 shares of the company’s stock after selling 189,987 shares during the period. Victory Capital Management Inc.’s holdings in Smartsheet were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Smartsheet during the fourth quarter valued at $25,000. Fifth Third Bancorp bought a new position in shares of Smartsheet in the fourth quarter worth $26,000. Brooklyn Investment Group bought a new position in shares of Smartsheet in the third quarter worth $28,000. True Wealth Design LLC bought a new position in shares of Smartsheet in the third quarter worth $41,000. Finally, Longfellow Investment Management Co. LLC bought a new position in shares of Smartsheet in the third quarter worth $48,000. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Smartsheet news, insider Jolene Lau Marshall sold 2,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.18, for a total transaction of $112,360.00. Following the sale, the insider now owns 17,739 shares in the company, valued at $996,577.02. This trade represents a 10.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.07, for a total value of $280,350.00. Following the sale, the chief executive officer now owns 619,515 shares in the company, 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. 4.52% of the stock is currently owned by company insiders.

Smartsheet Stock Performance

Shares of SMAR stock opened at $56.47 on Friday. Smartsheet Inc has a 52-week low of $36.27 and a 52-week high of $56.55. The company 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. The business’s fifty day moving average is $56.46 and its 200 day moving average is $55.55.

Analyst Upgrades and Downgrades

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

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.