Brighton Jones LLC Has $767,000 Stock Holdings in Smartsheet Inc (NYSE:SMAR)

Brighton Jones LLC raised its stake in Smartsheet Inc (NYSE:SMARGet Rating) by 18.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,997 shares of the company’s stock after acquiring an additional 2,189 shares during the period. Brighton Jones LLC’s holdings in Smartsheet were worth $767,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Covestor Ltd bought a new position in shares of Smartsheet in the 4th quarter valued at $29,000. IronBridge Private Wealth LLC bought a new position in shares of Smartsheet in the 4th quarter valued at $32,000. Cornerstone Advisory LLC bought a new position in shares of Smartsheet in the 4th quarter valued at $39,000. Pinebridge Investments L.P. bought a new position in shares of Smartsheet in the 4th quarter valued at $62,000. Finally, Capital Analysts LLC increased its stake in shares of Smartsheet by 25.1% in the 4th quarter. Capital Analysts LLC now owns 1,235 shares of the company’s stock valued at $96,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

Insider Activity

In other news, Director Elena Gomez sold 6,250 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $30.47, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jolene Lau Marshall sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $31.77, for a total transaction of $158,850.00. Following the transaction, the insider now directly owns 17,597 shares of the company’s stock, valued at approximately $559,056.69. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Elena Gomez sold 6,250 shares of the company’s 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 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. Insiders have sold 23,279 shares of company stock valued at $765,014 in the last ninety days. 4.58% of the stock is owned by company insiders.

Smartsheet Price Performance

Shares of NYSE:SMAR opened at $35.10 on Friday. The business’s 50-day moving average is $33.36 and its 200-day moving average is $40.61. Smartsheet Inc has a 1 year low of $27.05 and a 1 year high of $80.89.

Smartsheet (NYSE:SMARGet Rating) last announced its quarterly earnings data on Thursday, September 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.10. The company had revenue of $186.70 million for the quarter, compared to the consensus estimate of $180.56 million. Smartsheet had a negative return on equity of 41.95% and a negative net margin of 33.88%. The firm’s revenue was up 41.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.28) EPS. Equities analysts anticipate that Smartsheet Inc will post -2.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SMAR shares. Canaccord Genuity Group reduced their price objective on Smartsheet from $60.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, September 2nd. JPMorgan Chase & Co. reduced their price objective on Smartsheet from $80.00 to $58.00 in a research report on Wednesday, June 8th. Wells Fargo & Company reduced their price objective on Smartsheet from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 7th. Truist Financial reduced their price objective on Smartsheet from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, September 2nd. Finally, Jefferies Financial Group reduced their price objective on Smartsheet from $50.00 to $40.00 in a research report on Friday, September 2nd. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.27.

About Smartsheet

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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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