Smartsheet Inc (NYSE:SMAR) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 33.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 835,940 shares of the company’s stock after buying an additional 211,632 shares during the period. Los Angeles Capital Management LLC owned about 0.60% of Smartsheet worth $46,278,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SMAR. Atria Investments Inc lifted its position in shares of Smartsheet by 3.1% during the third quarter. Atria Investments Inc now owns 9,749 shares of the company’s stock worth $540,000 after purchasing an additional 289 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Smartsheet during the third quarter worth $152,000. 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 lifted its position in shares of Smartsheet by 123.2% during the third quarter. Farther Finance Advisors LLC now owns 721 shares of the company’s stock worth $40,000 after purchasing an additional 398 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Smartsheet by 12.9% during the third quarter. US Bancorp DE now owns 1,749 shares of the company’s stock worth $97,000 after purchasing an additional 200 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Smartsheet

In other news, insider Jolene Lau Marshall sold 3,741 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $48.18, for a total transaction of $180,241.38. Following the completion of the transaction, the insider now owns 17,100 shares in the company, valued at approximately $823,878. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Smartsheet news, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $56.05, for a total value of $280,250.00. Following the completion of the transaction, the chief executive officer now directly owns 578,762 shares in the company, valued at $32,439,610.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the insider now owns 17,100 shares of the company’s stock, valued at approximately $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 42,730 shares of company stock worth $2,249,116 in the last 90 days. Corporate insiders own 4.52% of the company’s stock.

Analysts Set New Price Targets

SMAR has been the subject of a number of research analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Wells Fargo & Company restated an “equal weight” rating and issued a $57.00 price target on shares of Smartsheet in a research note on Tuesday, September 24th. Morgan Stanley lifted their price target on shares of Smartsheet from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Barclays lifted their price target on shares of Smartsheet from $50.00 to $56.50 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, William Blair restated a “market perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.82.

Smartsheet Price Performance

Shares of SMAR stock traded up $0.06 during trading hours on Friday, reaching $56.02. The stock had a trading volume of 1,215,355 shares, compared to its average volume of 3,207,541. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $56.55. The firm has a 50-day simple moving average of $54.24 and a 200-day simple moving average of $47.29. The firm has a market capitalization of $7.78 billion, a PE ratio of -180.71 and a beta of 0.74.

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

Smartsheet declared that its Board of Directors has approved a stock repurchase program on Thursday, September 5th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.