EntryPoint Capital LLC Increases Stake in Smartsheet Inc (NYSE:SMAR)

EntryPoint Capital LLC boosted its stake in shares of Smartsheet Inc (NYSE:SMAR) by 51.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,432 shares of the company’s stock after acquiring an additional 821 shares during the quarter. EntryPoint Capital LLC’s holdings in Smartsheet were worth $94,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its position in shares of Smartsheet by 66.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 64,730 shares of the company’s stock valued at $3,095,000 after buying an additional 25,940 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Smartsheet in the fourth quarter valued at approximately $33,000. Washington Capital Management Inc. increased its position in shares of Smartsheet by 20.2% in the fourth quarter. Washington Capital Management Inc. now owns 13,100 shares of the company’s stock valued at $626,000 after buying an additional 2,200 shares in the last quarter. Vanderbilt University purchased a new stake in shares of Smartsheet in the fourth quarter valued at approximately $1,869,000. Finally, International Assets Investment Management LLC increased its position in shares of Smartsheet by 4,386.0% in the fourth quarter. International Assets Investment Management LLC now owns 27,544 shares of the company’s stock valued at $1,317,000 after buying an additional 26,930 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Smartsheet

In other news, CFO Pete Godbole sold 5,202 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $41.92, for a total transaction of $218,067.84. Following the sale, the chief financial officer now owns 44,346 shares of the company’s stock, valued at approximately $1,858,984.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Stephen Robert Branstetter sold 2,004 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $48.00, for a total value of $96,192.00. Following the completion of the sale, the chief operating officer now owns 61,791 shares in the company, valued at approximately $2,965,968. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Pete Godbole sold 5,202 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $41.92, for a total transaction of $218,067.84. Following the transaction, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,858,984.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,390 shares of company stock valued at $1,484,631. Corporate insiders own 4.52% of the company’s stock.

Smartsheet Trading Up 3.1 %

Smartsheet stock traded up $1.47 during midday trading on Friday, reaching $48.60. 751,337 shares of the stock traded hands, compared to its average volume of 1,523,873. The company has a 50-day simple moving average of $42.73 and a two-hundred day simple moving average of $42.10. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $49.42. The firm has a market cap of $6.72 billion, a PE ratio of -77.06 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Wednesday, June 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. The business had revenue of $262.98 million during the quarter, compared to analysts’ expectations of $258.06 million. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. Equities research analysts anticipate that Smartsheet Inc will post -0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SMAR. Canaccord Genuity Group raised their price objective on Smartsheet from $45.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Needham & Company LLC restated a “buy” rating and issued a $57.00 price objective on shares of Smartsheet in a report on Thursday, June 6th. BMO Capital Markets raised their price objective on Smartsheet from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. Royal Bank of Canada raised their price objective on Smartsheet from $36.00 to $43.00 and gave the company a “sector perform” rating in a report on Thursday, June 6th. Finally, Morgan Stanley raised their price objective on Smartsheet from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.00.

Smartsheet 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.