SYM FINANCIAL Corp Makes New Investment in Smartsheet Inc (NYSE:SMAR)

SYM FINANCIAL Corp purchased a new stake in shares of Smartsheet Inc (NYSE:SMAR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,956 shares of the company’s stock, valued at approximately $278,000.

Several other institutional investors and hedge funds have also modified their holdings of SMAR. Chicago Partners Investment Group LLC bought a new position in shares of Smartsheet in the 4th quarter valued at approximately $394,000. Gries Financial LLC boosted its position in Smartsheet by 16.6% during the fourth quarter. Gries Financial LLC now owns 6,013 shares of the company’s stock worth $337,000 after purchasing an additional 855 shares during the period. KBC Group NV grew its holdings in Smartsheet by 30.8% during the fourth quarter. KBC Group NV now owns 4,855 shares of the company’s stock valued at $272,000 after purchasing an additional 1,143 shares during the last quarter. Flagship Harbor Advisors LLC raised its position in shares of Smartsheet by 6.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 7,596 shares of the company’s stock valued at $426,000 after purchasing an additional 482 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in shares of Smartsheet in the fourth quarter worth $26,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analysts Set New Price Targets

SMAR has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $56.50 target price on shares of Smartsheet in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Smartsheet in a research note on Friday, December 6th. Finally, Guggenheim downgraded Smartsheet from a “buy” rating to a “neutral” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Smartsheet presently has a consensus rating of “Hold” and a consensus price target of $55.82.

Insider Transactions at Smartsheet

In other Smartsheet news, CEO Mark Patrick Mader sold 47,916 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $55.96, for a total transaction of $2,681,379.36. Following the sale, the chief executive officer now directly owns 624,356 shares in the company, valued at approximately $34,938,961.76. This trade represents a 7.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jolene Lau Marshall sold 3,205 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $55.92, for a total transaction of $179,223.60. Following the completion of the transaction, the insider now owns 18,695 shares of the company’s stock, valued at $1,045,424.40. This trade represents a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,121 shares of company stock valued at $3,365,293 over the last three months. 4.52% of the stock is currently owned by corporate insiders.

Smartsheet Price Performance

Smartsheet stock opened at $56.47 on Monday. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $56.55. The firm has a market capitalization of $7.91 billion, a price-to-earnings ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71. The company’s 50 day simple moving average is $56.17 and its 200 day simple moving average is $53.56.

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.