Smartsheet Inc (NYSE:SMAR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 78.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,918 shares of the company’s stock after selling 10,387 shares during the period. PNC Financial Services Group Inc.’s holdings in Smartsheet were worth $163,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Smartsheet in the fourth quarter valued at about $25,000. Fifth Third Bancorp acquired a new position in Smartsheet in the 4th quarter valued at about $26,000. Brooklyn Investment Group purchased a new stake in Smartsheet during the 3rd quarter valued at approximately $28,000. True Wealth Design LLC acquired a new stake in Smartsheet during the 3rd quarter worth approximately $41,000. Finally, Longfellow Investment Management Co. LLC purchased a new position in shares of Smartsheet in the 3rd quarter valued at approximately $48,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Mark Patrick Mader sold 5,000 shares of Smartsheet stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.07, for a total transaction of $280,350.00. Following the completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jolene Lau Marshall sold 2,000 shares of the business’s 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 sale, the insider now owns 17,739 shares in the company, valued at approximately $996,577.02. The trade was a 10.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Sixteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Smartsheet has a consensus rating of “Hold” and a consensus price target of $57.00.

Smartsheet Price Performance

NYSE:SMAR opened at $56.47 on Monday. The firm’s fifty day simple moving average is $56.46 and its 200-day simple moving average is $55.72. The stock has a market cap 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. Smartsheet Inc has a fifty-two week low of $36.27 and a fifty-two week high of $56.55.

Smartsheet Company 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.