Allworth Financial LP Buys 726 Shares of Smartsheet Inc (NYSE:SMAR)

Allworth Financial LP raised its stake in Smartsheet Inc (NYSE:SMAR) by 2,503.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 755 shares of the company’s stock after buying an additional 726 shares during the quarter. Allworth Financial LP’s holdings in Smartsheet were worth $36,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in Smartsheet in the fourth quarter valued at approximately $33,000. Castleview Partners LLC bought a new position in Smartsheet in the third quarter valued at approximately $39,000. DekaBank Deutsche Girozentrale bought a new position in Smartsheet in the third quarter valued at approximately $105,000. CWM LLC lifted its stake in Smartsheet by 14.7% in the third quarter. CWM LLC now owns 3,044 shares of the company’s stock valued at $123,000 after buying an additional 390 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Smartsheet by 39.1% in the first quarter. Advisors Asset Management Inc. now owns 3,212 shares of the company’s stock valued at $176,000 after buying an additional 903 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,247 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $45.03, for a total value of $101,182.41. Following the transaction, the insider now directly owns 12,129 shares in the company, valued at $546,168.87. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jolene Lau Marshall sold 2,247 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $45.03, for a total value of $101,182.41. Following the transaction, the insider now directly owns 12,129 shares in the company, valued at $546,168.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Michael Arntz sold 7,572 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $44.81, for a total transaction of $339,301.32. Following the completion of the transaction, the executive now owns 7,148 shares in the company, valued at $320,301.88. The disclosure for this sale can be found here. Insiders have sold a total of 23,258 shares of company stock worth $963,519 over the last ninety days. Insiders own 4.71% of the company’s stock.

Smartsheet Price Performance

NYSE:SMAR opened at $37.67 on Monday. Smartsheet Inc has a one year low of $35.52 and a one year high of $52.81. The company has a market cap of $5.18 billion, a P/E ratio of -47.68 and a beta of 0.73. The firm’s fifty day moving average price is $41.29 and its two-hundred day moving average price is $42.81.

Smartsheet (NYSE:SMAR) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $256.95 million for the quarter, compared to the consensus estimate of $254.99 million. As a group, equities research analysts expect that Smartsheet Inc will post -0.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SMAR. Morgan Stanley cut their price target on shares of Smartsheet from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. BMO Capital Markets cut their price objective on shares of Smartsheet from $48.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. KeyCorp initiated coverage on shares of Smartsheet in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Oppenheimer cut their price objective on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Smartsheet from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.