XTX Topco Ltd grew its stake in shares of Smartsheet Inc (NYSE:SMAR – Free Report) by 112.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,926 shares of the company’s stock after purchasing an additional 13,220 shares during the quarter. XTX Topco Ltd’s holdings in Smartsheet were worth $1,191,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new stake in shares of Smartsheet during the 4th quarter worth approximately $25,000. International Assets Investment Management LLC purchased a new stake in shares of Smartsheet during the 1st quarter worth approximately $29,000. Headlands Technologies LLC lifted its position in shares of Smartsheet by 87,100.0% during the 1st quarter. Headlands Technologies LLC now owns 872 shares of the company’s stock worth $42,000 after buying an additional 871 shares during the last quarter. Center for Financial Planning Inc. purchased a new stake in shares of Smartsheet during the 1st quarter worth approximately $68,000. Finally, Gyon Technologies Capital Management LP purchased a new stake in shares of Smartsheet during the 4th quarter worth approximately $72,000. Institutional investors and hedge funds own 88.99% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on SMAR. Canaccord Genuity Group boosted their price objective on shares of Smartsheet from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup upped their price target on shares of Smartsheet from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday. BMO Capital Markets upped their price target on shares of Smartsheet from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday. Wells Fargo & Company reduced their price target on shares of Smartsheet from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Morgan Stanley upped their price target on shares of Smartsheet from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.64.
Insider Transactions at Smartsheet
In related news, Director Michael P. Gregoire purchased 3,800 shares of the stock in a transaction dated Tuesday, June 13th. The shares were acquired at an average cost of $39.38 per share, with a total value of $149,644.00. Following the purchase, the director now directly owns 15,301 shares in the company, valued at approximately $602,553.38. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.71% of the company’s stock.
Smartsheet Stock Performance
Shares of SMAR opened at $43.04 on Friday. Smartsheet Inc has a 1 year low of $25.09 and a 1 year high of $52.81. The stock has a market capitalization of $5.75 billion, a P/E ratio of -31.88 and a beta of 0.96. The company’s fifty day moving average is $40.99 and its two-hundred day moving average is $42.79.
Smartsheet (NYSE:SMAR – Get Free Report) last posted its quarterly earnings results on Thursday, September 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. Smartsheet had a negative net margin of 21.39% and a negative return on equity of 34.29%. The business had revenue of $235.60 million for the quarter, compared to analysts’ expectations of $229.57 million. During the same period in the prior year, the company posted ($0.46) EPS. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. Sell-side analysts predict that Smartsheet Inc will post -1.15 EPS for the current year.
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.
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