Principal Financial Group Inc. Has $639,000 Holdings in Smartsheet Inc (NYSE:SMAR)

Principal Financial Group Inc. increased its position in Smartsheet Inc (NYSE:SMAR) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,538 shares of the company’s stock after purchasing an additional 266 shares during the quarter. Principal Financial Group Inc.’s holdings in Smartsheet were worth $639,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. US Bancorp DE lifted its stake in Smartsheet by 12.9% in the third quarter. US Bancorp DE now owns 1,749 shares of the company’s stock valued at $97,000 after buying an additional 200 shares in the last quarter. Landscape Capital Management L.L.C. grew its position in shares of Smartsheet by 0.3% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock valued at $4,596,000 after acquiring an additional 225 shares during the period. First Horizon Advisors Inc. raised its stake in Smartsheet by 25.5% in the third quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock valued at $62,000 after buying an additional 228 shares during the period. Larson Financial Group LLC increased its holdings in shares of Smartsheet by 2.1% in the third quarter. Larson Financial Group LLC now owns 13,253 shares of the company’s stock valued at $734,000 after purchasing an additional 277 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Smartsheet by 3.4% during the third quarter. MetLife Investment Management LLC now owns 8,428 shares of the company’s stock worth $467,000 after acquiring an additional 280 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Smartsheet Price Performance

Shares of SMAR stock opened at $56.20 on Monday. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55. The company has a market cap of $7.87 billion, a P/E ratio of -936.67, a P/E/G ratio of 82.24 and a beta of 0.71. The firm has a 50-day moving average of $56.03 and a 200-day moving average of $51.72.

Insider Buying and Selling at Smartsheet

In related news, insider Jolene Lau Marshall sold 3,205 shares of Smartsheet stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $55.92, for a total value of $179,223.60. Following the completion of the transaction, the insider now directly owns 18,695 shares in the company, valued at approximately $1,045,424.40. The trade was a 14.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Patrick Mader sold 47,916 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $55.96, for a total transaction of $2,681,379.36. Following the completion of the sale, the chief executive officer now directly owns 624,356 shares in the company, valued at approximately $34,938,961.76. The trade was a 7.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,121 shares of company stock worth $3,365,193. Insiders own 4.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group reiterated a “neutral” rating and issued a $56.50 price objective (down previously from $61.00) on shares of Smartsheet in a research note on Thursday, September 26th. DA Davidson reissued a “neutral” rating and issued a $56.50 price objective (up previously from $55.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Guggenheim cut Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $56.50 price objective on shares of Smartsheet in a report on Thursday, October 24th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a research report on Tuesday, September 24th. One equities research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.82.

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.