2,742 Shares in Smartsheet Inc (NYSE:SMAR) Acquired by Capital Performance Advisors LLP

Capital Performance Advisors LLP purchased a new position in shares of Smartsheet Inc (NYSE:SMAR) during the third quarter, Holdings Channel reports. The fund purchased 2,742 shares of the company’s stock, valued at approximately $152,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Smartsheet by 2.4% during the third quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock worth $639,000 after purchasing an additional 266 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Smartsheet by 123.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after buying an additional 398 shares during the period. US Bancorp DE lifted its holdings in Smartsheet by 12.9% during the 3rd quarter. US Bancorp DE now owns 1,749 shares of the company’s stock worth $97,000 after buying an additional 200 shares in the last quarter. Congress Asset Management Co. purchased a new position in Smartsheet in the 3rd quarter valued at approximately $3,666,000. Finally, Smith Group Asset Management LLC grew its stake in shares of Smartsheet by 14.3% in the third quarter. Smith Group Asset Management LLC now owns 17,170 shares of the company’s stock worth $951,000 after acquiring an additional 2,150 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Smartsheet Stock Up 0.1 %

Shares of Smartsheet stock traded up $0.07 on Friday, hitting $56.03. The stock had a trading volume of 336,063 shares, compared to its average volume of 2,172,856. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $56.55. The company’s 50 day moving average price is $53.95 and its 200 day moving average price is $47.04.

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

Smartsheet announced that its board has approved a stock repurchase plan on Thursday, September 5th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Jolene Lau Marshall sold 3,741 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $48.18, for a total transaction of $180,241.38. Following the transaction, the insider now owns 17,100 shares of the company’s stock, valued at $823,878. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Jolene Lau Marshall sold 3,741 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $48.18, for a total transaction of $180,241.38. Following the completion of the sale, the insider now owns 17,100 shares in the company, valued at $823,878. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen Robert Branstetter sold 1,847 shares of Smartsheet stock in a transaction on Monday, September 16th. The shares were sold at an average price of $53.00, for a total transaction of $97,891.00. Following the completion of the transaction, the chief operating officer now owns 64,215 shares in the company, valued at approximately $3,403,395. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,730 shares of company stock worth $2,249,116 in the last 90 days. Company insiders own 4.52% of the company’s stock.

Wall Street Analysts Forecast Growth

SMAR has been the topic of several analyst reports. Canaccord Genuity Group reiterated a “hold” rating and issued a $56.50 price objective (down from $60.00) on shares of Smartsheet in a research note on Wednesday, September 25th. Wolfe Research reaffirmed a “peer perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Needham & Company LLC reiterated a “hold” rating and issued a $57.00 price objective on shares of Smartsheet in a research note on Tuesday, September 24th. Jefferies Financial Group restated a “hold” rating and set a $56.50 target price (down from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Finally, Citigroup reiterated a “neutral” rating and issued a $56.50 price target (down previously from $63.00) on shares of Smartsheet in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Smartsheet presently has a consensus rating of “Hold” and a consensus price target of $55.82.

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.