Zurcher Kantonalbank Zurich Cantonalbank Purchases 11,065 Shares of Smartsheet Inc (NYSE:SMAR)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Smartsheet Inc (NYSE:SMAR) by 44.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,801 shares of the company’s stock after buying an additional 11,065 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Smartsheet were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. RGM Capital LLC bought a new stake in Smartsheet during the 3rd quarter valued at $50,705,000. Eminence Capital LP increased its holdings in Smartsheet by 58.3% during the 3rd quarter. Eminence Capital LP now owns 3,329,155 shares of the company’s stock valued at $134,698,000 after purchasing an additional 1,226,189 shares during the period. Vanguard Group Inc. raised its position in Smartsheet by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 13,307,701 shares of the company’s stock valued at $538,430,000 after purchasing an additional 261,836 shares during the last quarter. Lead Edge Capital Management LLC purchased a new stake in Smartsheet in the 3rd quarter worth approximately $10,216,000. Finally, AQR Capital Management LLC grew its position in shares of Smartsheet by 234.5% in the 3rd quarter. AQR Capital Management LLC now owns 348,300 shares of the company’s stock worth $14,092,000 after buying an additional 244,188 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Smartsheet Stock Up 0.2 %

Shares of SMAR opened at $38.36 on Thursday. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $52.81. The company has a 50 day simple moving average of $39.95 and a two-hundred day simple moving average of $42.63.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, topping 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 business had revenue of $256.95 million for the quarter, compared to analysts’ expectations of $254.99 million. On average, analysts forecast that Smartsheet Inc will post -0.43 EPS for the current year.

Insider Buying and Selling at Smartsheet

In other news, insider Jolene Lau Marshall sold 2,247 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $45.03, for a total transaction of $101,182.41. Following the transaction, the insider now owns 12,129 shares of the company’s stock, valued at approximately $546,168.87. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Pete Godbole sold 10,129 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $38.67, for a total value of $391,688.43. Following the sale, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $1,714,859.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jolene Lau Marshall sold 2,247 shares of the business’s stock in a transaction that occurred 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 owns 12,129 shares of the company’s stock, valued at approximately $546,168.87. The disclosure for this sale can be found here. Insiders have sold a total of 33,387 shares of company stock worth $1,355,207 over the last ninety days. Company insiders own 4.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SMAR. BMO Capital Markets reduced their price objective on Smartsheet from $48.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Citigroup raised shares of Smartsheet from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $63.00 in a research report on Thursday, January 11th. Barclays reduced their price objective on Smartsheet from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, March 15th. Jefferies Financial Group cut their price target on Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Finally, Canaccord Genuity Group dropped 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.