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

Los Angeles Capital Management LLC grew its holdings in shares of Smartsheet Inc (NYSE:SMARGet Rating) by 12.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,522 shares of the company’s stock after purchasing an additional 2,985 shares during the period. Los Angeles Capital Management LLC’s holdings in Smartsheet were worth $834,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital World Investors increased its position in Smartsheet by 11.2% during the 1st quarter. Capital World Investors now owns 15,316,599 shares of the company’s stock worth $839,084,000 after purchasing an additional 1,542,891 shares during the period. Vanguard Group Inc. increased its position in Smartsheet by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 11,326,756 shares of the company’s stock worth $620,480,000 after purchasing an additional 66,327 shares during the period. Dorsey Asset Management LLC increased its position in Smartsheet by 7.3% during the 1st quarter. Dorsey Asset Management LLC now owns 3,009,153 shares of the company’s stock worth $164,841,000 after purchasing an additional 203,696 shares during the period. State Street Corp increased its position in Smartsheet by 3.9% during the 1st quarter. State Street Corp now owns 1,900,859 shares of the company’s stock worth $104,129,000 after purchasing an additional 72,157 shares during the period. Finally, Dorsal Capital Management LLC grew its holdings in shares of Smartsheet by 65.2% in the 1st quarter. Dorsal Capital Management LLC now owns 1,900,000 shares of the company’s stock worth $104,082,000 after acquiring an additional 750,000 shares during the period. Institutional investors and hedge funds own 90.24% of the company’s stock.

Smartsheet Price Performance

Shares of Smartsheet stock opened at $26.80 on Wednesday. Smartsheet Inc has a fifty-two week low of $25.09 and a fifty-two week high of $80.89. The business’s fifty day moving average is $33.91 and its two-hundred day moving average is $34.99.

Smartsheet (NYSE:SMARGet Rating) last issued its quarterly earnings results on Thursday, September 1st. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.10. Smartsheet had a negative return on equity of 42.47% and a negative net margin of 33.88%. The company had revenue of $186.70 million for the quarter, compared to analyst estimates of $180.56 million. During the same quarter in the prior year, the company posted ($0.28) EPS. The business’s revenue for the quarter was up 41.8% compared to the same quarter last year. As a group, equities analysts expect that Smartsheet Inc will post -2.03 EPS for the current year.

Insiders Place Their Bets

In related news, Director Elena Gomez sold 6,250 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $37.39, for a total value of $233,687.50. Following the transaction, the director now directly owns 6,003 shares of the company’s stock, valued at approximately $224,452.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Elena Gomez sold 6,250 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $37.39, for a total value of $233,687.50. Following the transaction, the director now directly owns 6,003 shares of the company’s stock, valued at approximately $224,452.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jolene Lau Marshall sold 6,000 shares of the stock in a transaction on Friday, November 4th. The stock was sold at an average price of $30.90, for a total value of $185,400.00. Following the completion of the transaction, the insider now directly owns 12,501 shares in the company, valued at $386,280.90. The disclosure for this sale can be found here. Insiders have sold a total of 29,854 shares of company stock valued at $1,055,761 in the last quarter. 4.58% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group lowered their price target on Smartsheet from $60.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, September 2nd. Morgan Stanley lowered their price target on Smartsheet from $62.00 to $54.00 and set an “overweight” rating on the stock in a report on Monday, October 3rd. William Blair restated an “outperform” rating on shares of Smartsheet in a report on Friday, September 23rd. Jefferies Financial Group lowered their price target on Smartsheet from $50.00 to $40.00 in a report on Friday, September 2nd. Finally, Credit Suisse Group assumed coverage on Smartsheet in a report on Friday, September 23rd. They issued a “neutral” rating and a $40.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.59.

Smartsheet Profile

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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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