Swiss National Bank Acquires 6,600 Shares of Smartsheet Inc (NYSE:SMAR)

Swiss National Bank raised its position in Smartsheet Inc (NYSE:SMAR – Get Rating) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,900 shares of the company’s stock after buying an additional 6,600 shares during the quarter. Swiss National Bank owned 0.23% of Smartsheet worth $11,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its position in shares of Smartsheet by 23.8% during the 3rd quarter. California Public Employees Retirement System now owns 271,032 shares of the company’s stock worth $9,313,000 after buying an additional 52,167 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Smartsheet by 1.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 53,749 shares of the company’s stock worth $1,847,000 after buying an additional 690 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Smartsheet by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 33,263 shares of the company’s stock worth $1,143,000 after buying an additional 631 shares during the last quarter. Wrapmanager Inc. bought a new stake in shares of Smartsheet during the 4th quarter worth $213,000. Finally, Alpha Square Group S LLC raised its position in Smartsheet by 25.0% in the third quarter. Alpha Square Group S LLC now owns 75,000 shares of the company’s stock valued at $2,577,000 after purchasing an additional 15,000 shares during the last quarter. 89.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SMAR shares. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 target price on shares of Smartsheet in a research report on Wednesday, March 15th. Guggenheim increased their target price on Smartsheet from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Friday, March 24th. KeyCorp raised their price objective on Smartsheet from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 15th. DA Davidson raised their price objective on Smartsheet from $54.00 to $57.00 in a research report on Wednesday, March 15th. Finally, Credit Suisse Group restated a “neutral” rating and set a $40.00 price objective on shares of Smartsheet in a research report on Wednesday, March 15th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.06.

Smartsheet Stock Up 0.8 %

Shares of NYSE:SMAR opened at $41.34 on Monday. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of -24.75 and a beta of 1.07. Smartsheet Inc has a 12-month low of $25.09 and a 12-month high of $48.99. The business’s 50 day moving average is $43.79 and its 200 day moving average is $40.21.

Smartsheet (NYSE:SMAR – Get Rating) last issued its quarterly earnings results on Tuesday, March 14th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.06. The business had revenue of $212.34 million for the quarter, compared to analyst estimates of $206.08 million. Smartsheet had a negative return on equity of 43.31% and a negative net margin of 28.12%. As a group, equities research analysts expect that Smartsheet Inc will post -1.27 earnings per share for the current year.

Insider Buying and Selling

In other Smartsheet news, insider Jolene Lau Marshall sold 2,221 shares of the business’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $44.47, for a total value of $98,767.87. Following the sale, the insider now directly owns 9,535 shares in the company, valued at $424,021.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CRO Michael Arntz sold 7,961 shares of the stock in a transaction dated Friday, March 31st. The stock was sold at an average price of $47.72, for a total transaction of $379,898.92. Following the sale, the executive now owns 10,522 shares of the company’s stock, valued at approximately $502,109.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jolene Lau Marshall sold 2,221 shares of the company’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $44.47, for a total value of $98,767.87. Following the completion of the transaction, the insider now owns 9,535 shares in the company, valued at $424,021.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,600 shares of company stock worth $1,167,557. 4.71% of the stock is owned by company insiders.

Smartsheet Company 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.