National Asset Management Inc. Increases Holdings in Smartsheet Inc (NYSE:SMAR)

National Asset Management Inc. grew its holdings in shares of Smartsheet Inc (NYSE:SMARGet Rating) by 35.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,542 shares of the company’s stock after purchasing an additional 1,180 shares during the quarter. National Asset Management Inc.’s holdings in Smartsheet were worth $249,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd bought a new position in shares of Smartsheet during the 4th quarter worth $29,000. National Bank of Canada FI bought a new position in shares of Smartsheet during the 4th quarter worth $31,000. IronBridge Private Wealth LLC bought a new position in shares of Smartsheet during the 4th quarter worth $32,000. Quadrant Capital Group LLC grew its stake in shares of Smartsheet by 84.7% during the 4th quarter. Quadrant Capital Group LLC now owns 484 shares of the company’s stock worth $37,000 after acquiring an additional 222 shares during the period. Finally, CWM LLC bought a new position in shares of Smartsheet during the 4th quarter worth $38,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Smartsheet Trading Down 0.4 %

Shares of SMAR opened at $30.06 on Friday. The company has a market cap of $3.89 billion, a PE ratio of -18.67 and a beta of 1.58. The stock has a 50-day moving average price of $32.77 and a 200-day moving average price of $45.62. Smartsheet Inc has a 12-month low of $27.05 and a 12-month high of $85.65.

Smartsheet (NYSE:SMARGet Rating) last announced its quarterly earnings data on Tuesday, June 7th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. The company had revenue of $168.31 million for the quarter, compared to analysts’ expectations of $162.55 million. Smartsheet had a negative return on equity of 36.73% and a negative net margin of 33.96%. Smartsheet’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.28) EPS. As a group, analysts predict that Smartsheet Inc will post -1.88 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on SMAR. JPMorgan Chase & Co. cut their target price on Smartsheet from $80.00 to $58.00 in a research note on Wednesday, June 8th. Royal Bank of Canada raised their target price on Smartsheet from $34.00 to $38.00 in a research note on Wednesday, June 8th. Jefferies Financial Group cut their target price on Smartsheet from $75.00 to $50.00 in a research note on Monday, May 23rd. Oppenheimer cut their target price on Smartsheet from $80.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, June 8th. Finally, Wells Fargo & Company cut their target price on Smartsheet from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, June 7th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.93.

Insider Activity at Smartsheet

In related news, Director Elena Gomez sold 6,250 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $30.47, for a total transaction of $190,437.50. Following the transaction, the director now directly owns 6,003 shares of the company’s stock, valued at approximately $182,911.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Smartsheet news, insider Jolene Lau Marshall sold 5,779 shares of Smartsheet stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $31.50, for a total value of $182,038.50. Following the transaction, the insider now directly owns 22,097 shares of the company’s stock, valued at approximately $696,055.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elena Gomez sold 6,250 shares of Smartsheet stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $30.47, for a total value of $190,437.50. Following the completion of the transaction, the director now directly owns 6,003 shares in the company, valued at $182,911.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,035 shares of company stock valued at $531,626. Corporate insiders own 4.58% of the company’s stock.

Smartsheet Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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