Gabelli Funds LLC Boosts Stock Position in Smartsheet Inc (NYSE:SMAR)

Gabelli Funds LLC raised its position in Smartsheet Inc (NYSE:SMAR) by 239.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,419 shares of the company’s stock after purchasing an additional 251,369 shares during the period. Gabelli Funds LLC’s holdings in Smartsheet were worth $19,970,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SMAR. Renaissance Technologies LLC raised its position in shares of Smartsheet by 157.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,026,505 shares of the company’s stock valued at $113,545,000 after buying an additional 1,238,300 shares during the last quarter. FIL Ltd raised its holdings in Smartsheet by 33.5% in the 4th quarter. FIL Ltd now owns 3,116,000 shares of the company’s stock valued at $174,589,000 after acquiring an additional 781,300 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Smartsheet by 47.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,054,433 shares of the company’s stock worth $115,110,000 after purchasing an additional 664,871 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Smartsheet by 447.1% during the fourth quarter. Alliancebernstein L.P. now owns 598,762 shares of the company’s stock worth $33,549,000 after purchasing an additional 489,321 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Smartsheet in the fourth quarter valued at $25,662,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Smartsheet Stock Performance

Smartsheet stock opened at $56.47 on Wednesday. The stock has a fifty day moving average price of $56.47 and a 200 day moving average price of $56.21. Smartsheet Inc has a 52 week low of $36.27 and a 52 week high of $56.55. The firm has a market capitalization of $7.91 billion, a P/E ratio of -941.17, a PEG ratio of 82.90 and a beta of 0.71.

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.