Teacher Retirement System of Texas Buys New Shares in Smartsheet Inc (NYSE:SMAR)

Teacher Retirement System of Texas purchased a new stake in shares of Smartsheet Inc (NYSE:SMAR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,192 shares of the company’s stock, valued at approximately $963,000.

A number of other large investors have also recently bought and sold shares of the business. Cerity Partners LLC boosted its holdings in shares of Smartsheet by 80.3% during the 3rd quarter. Cerity Partners LLC now owns 59,534 shares of the company’s stock worth $3,296,000 after buying an additional 26,509 shares in the last quarter. Bank of Montreal Can boosted its stake in Smartsheet by 348.5% during the third quarter. Bank of Montreal Can now owns 331,728 shares of the company’s stock worth $18,358,000 after acquiring an additional 257,764 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Smartsheet by 2.0% in the third quarter. The Manufacturers Life Insurance Company now owns 33,463 shares of the company’s stock worth $1,853,000 after purchasing an additional 661 shares during the period. Brooklyn Investment Group bought a new stake in Smartsheet in the third quarter valued at $28,000. Finally, BNP Paribas Financial Markets increased its stake in Smartsheet by 3.3% in the third quarter. BNP Paribas Financial Markets now owns 20,359 shares of the company’s stock valued at $1,127,000 after purchasing an additional 654 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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 equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Smartsheet currently has a consensus rating of “Hold” and a consensus price target of $57.00.

Smartsheet Stock Performance

Shares of Smartsheet stock opened at $56.47 on Friday. The company has a market capitalization of $7.91 billion, a P/E ratio of -941.17, a price-to-earnings-growth ratio of 82.90 and a beta of 0.71. The stock has a fifty day simple moving average of $56.47 and a 200 day simple moving average of $55.87. Smartsheet Inc has a 12-month low of $36.27 and a 12-month high of $56.55.

Insider Transactions at Smartsheet

In other news, CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.07, for a total value of $280,350.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jolene Lau Marshall sold 2,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $56.18, for a total value of $112,360.00. Following the sale, the insider now directly owns 17,739 shares of the company’s stock, valued at $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. Company insiders own 4.52% of the company’s stock.

About Smartsheet

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.