Smartsheet Inc (NYSE:SMAR) Stock Position Cut by Capital International Inc. CA

Capital International Inc. CA decreased its stake in shares of Smartsheet Inc (NYSE:SMAR) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,498 shares of the company’s stock after selling 1,595 shares during the period. Capital International Inc. CA’s holdings in Smartsheet were worth $1,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Smartsheet during the fourth quarter valued at approximately $68,879,000. Granahan Investment Management LLC increased its position in shares of Smartsheet by 908.1% during the 4th quarter. Granahan Investment Management LLC now owns 1,040,724 shares of the company’s stock valued at $49,767,000 after purchasing an additional 937,483 shares during the period. Los Angeles Capital Management LLC boosted its stake in Smartsheet by 6,960.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 628,138 shares of the company’s stock valued at $30,038,000 after buying an additional 619,242 shares in the last quarter. Coronation Fund Managers Ltd. grew its holdings in Smartsheet by 44.2% during the first quarter. Coronation Fund Managers Ltd. now owns 1,550,203 shares of the company’s stock worth $59,683,000 after acquiring an additional 474,898 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Smartsheet by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 13,583,818 shares of the company’s stock valued at $649,578,000 after acquiring an additional 276,117 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Smartsheet news, COO Stephen Robert Branstetter sold 4,174 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $43.91, for a total value of $183,280.34. Following the completion of the transaction, the chief operating officer now owns 68,067 shares of the company’s stock, valued at approximately $2,988,821.97. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Smartsheet news, CFO Pete Godbole sold 5,202 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $41.92, for a total transaction of $218,067.84. Following the completion of the transaction, the chief financial officer now owns 44,346 shares in the company, valued at $1,858,984.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Stephen Robert Branstetter sold 4,174 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $43.91, for a total value of $183,280.34. Following the completion of the sale, the chief operating officer now owns 68,067 shares in the company, valued at $2,988,821.97. The disclosure for this sale can be found here. Insiders have sold 34,390 shares of company stock worth $1,484,631 in the last ninety days. Insiders own 4.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays increased their price objective on Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th. UBS Group boosted their price target on shares of Smartsheet from $54.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Morgan Stanley raised their price objective on shares of Smartsheet from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, June 6th. Wells Fargo & Company upped their target price on Smartsheet from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. Finally, BMO Capital Markets upped their price target on shares of Smartsheet from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Smartsheet presently has an average rating of “Moderate Buy” and an average price target of $52.00.

Smartsheet Stock Up 2.7 %

SMAR stock traded up $1.27 during mid-day trading on Friday, reaching $48.40. 1,346,295 shares of the stock traded hands, compared to its average volume of 1,277,224. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $49.42. The firm has a market capitalization of $6.70 billion, a PE ratio of -78.06 and a beta of 0.74. The business has a 50-day moving average of $42.86 and a two-hundred day moving average of $42.12.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings results on Wednesday, June 5th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. The company had revenue of $262.98 million for the quarter, compared to the consensus estimate of $258.06 million. On average, equities research analysts anticipate that Smartsheet Inc will post -0.24 EPS for the current fiscal year.

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.