SG Americas Securities LLC Lowers Stake in Smartsheet Inc (NYSE:SMAR)

SG Americas Securities LLC lowered its stake in shares of Smartsheet Inc (NYSE:SMAR) by 52.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,464 shares of the company’s stock after selling 4,918 shares during the period. SG Americas Securities LLC’s holdings in Smartsheet were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SMAR. Treasurer of the State of North Carolina lifted its holdings in Smartsheet by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 55,099 shares of the company’s stock worth $2,229,000 after buying an additional 280 shares in the last quarter. Delphia USA Inc. lifted its holdings in Smartsheet by 4.0% during the 1st quarter. Delphia USA Inc. now owns 7,260 shares of the company’s stock worth $347,000 after buying an additional 281 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Smartsheet by 0.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,396 shares of the company’s stock worth $2,968,000 after buying an additional 343 shares in the last quarter. Royal Bank of Canada lifted its holdings in Smartsheet by 1.0% during the 3rd quarter. Royal Bank of Canada now owns 37,005 shares of the company’s stock worth $1,272,000 after buying an additional 364 shares in the last quarter. Finally, CWM LLC lifted its holdings in Smartsheet by 14.7% during the 3rd quarter. CWM LLC now owns 3,044 shares of the company’s stock worth $123,000 after buying an additional 390 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, COO Stephen Robert Branstetter sold 5,737 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total transaction of $219,268.14. Following the transaction, the chief operating officer now owns 67,801 shares of the company’s stock, valued at $2,591,354.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Smartsheet news, CRO Michael Arntz sold 7,702 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the sale, the executive now owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen Robert Branstetter sold 5,737 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total transaction of $219,268.14. Following the completion of the sale, the chief operating officer now owns 67,801 shares in the company, valued at approximately $2,591,354.22. The disclosure for this sale can be found here. Insiders have sold a total of 23,258 shares of company stock valued at $963,519 over the last 90 days. 4.71% of the stock is currently owned by company insiders.

Smartsheet Stock Down 2.6 %

NYSE SMAR opened at $37.68 on Friday. The stock has a market capitalization of $5.18 billion, a PE ratio of -47.70 and a beta of 0.73. The company has a 50 day moving average price of $41.29 and a two-hundred day moving average price of $42.76. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $52.81.

Smartsheet (NYSE:SMAR) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.17. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. The company had revenue of $256.95 million for the quarter, compared to analyst estimates of $254.99 million. As a group, equities analysts anticipate that Smartsheet Inc will post -0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Smartsheet from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, March 18th. UBS Group reduced their price objective on shares of Smartsheet from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Royal Bank of Canada reduced their price objective on shares of Smartsheet from $48.00 to $36.00 and set a “sector perform” rating on the stock in a report on Friday, March 15th. Bank of America started coverage on shares of Smartsheet in a research report on Monday, February 26th. They issued an “underperform” rating and a $45.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 target price on shares of Smartsheet in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.75.

About Smartsheet

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.