Smartsheet Inc (NYSE:SMAR) Shares Sold by Clarius Group LLC

Clarius Group LLC lessened its stake in Smartsheet Inc (NYSE:SMAR) by 10.4% in the third quarter, Holdings Channel reports. The institutional investor owned 144,212 shares of the company’s stock after selling 16,679 shares during the quarter. Smartsheet accounts for about 0.6% of Clarius Group LLC’s portfolio, making the stock its 27th largest position. Clarius Group LLC’s holdings in Smartsheet were worth $7,984,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SMAR. Vanguard Group Inc. grew its holdings in shares of Smartsheet by 1.7% during the first quarter. Vanguard Group Inc. now owns 13,809,208 shares of the company’s stock valued at $531,655,000 after purchasing an additional 225,390 shares during the last quarter. Eminence Capital LP raised its position in shares of Smartsheet by 9.2% during the 2nd quarter. Eminence Capital LP now owns 4,251,328 shares of the company’s stock worth $187,399,000 after buying an additional 358,988 shares in the last quarter. RGM Capital LLC lifted its stake in shares of Smartsheet by 7.6% in the 2nd quarter. RGM Capital LLC now owns 2,223,763 shares of the company’s stock worth $98,023,000 after acquiring an additional 156,817 shares during the period. Marshall Wace LLP boosted its holdings in shares of Smartsheet by 40.9% in the second quarter. Marshall Wace LLP now owns 1,835,994 shares of the company’s stock valued at $80,931,000 after acquiring an additional 533,278 shares in the last quarter. Finally, Coronation Fund Managers Ltd. boosted its holdings in shares of Smartsheet by 44.2% in the first quarter. Coronation Fund Managers Ltd. now owns 1,550,203 shares of the company’s stock valued at $59,683,000 after acquiring an additional 474,898 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Smartsheet Trading Up 0.1 %

SMAR opened at $55.56 on Friday. The business’s 50-day simple moving average is $50.66 and its 200 day simple moving average is $44.53. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $55.63.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. Smartsheet had a negative return on equity of 4.29% and a negative net margin of 4.07%. The company had revenue of $276.41 million during the quarter, compared to analysts’ expectations of $274.23 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. The business’s revenue was up 17.3% on a year-over-year basis. As a group, research analysts predict that Smartsheet Inc will post -0.05 earnings per share for the current year.

Smartsheet announced that its board has authorized a share repurchase plan on Thursday, September 5th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Smartsheet

In other Smartsheet news, COO Stephen Robert Branstetter sold 2,004 shares of the stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $48.00, for a total transaction of $96,192.00. Following the sale, the chief operating officer now directly owns 61,791 shares in the company, valued at $2,965,968. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Stephen Robert Branstetter sold 2,004 shares of Smartsheet stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $48.00, for a total value of $96,192.00. Following the transaction, the chief operating officer now owns 61,791 shares in the company, valued at approximately $2,965,968. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jolene Lau Marshall sold 3,741 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $48.18, for a total value of $180,241.38. Following the completion of the sale, the insider now owns 17,100 shares of the company’s stock, valued at $823,878. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,734 shares of company stock worth $2,065,058 in the last ninety days. 4.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on SMAR shares. Truist Financial reissued a “hold” rating and set a $56.50 target price (down previously from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. William Blair restated a “market perform” rating on shares of Smartsheet in a report on Wednesday, September 25th. Wolfe Research reiterated a “peer perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Canaccord Genuity Group restated a “hold” rating and set a $56.50 price target (down from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. Finally, Barclays increased their price objective on Smartsheet from $50.00 to $56.50 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.