Xponance Inc. Cuts Holdings in Smartsheet Inc (NYSE:SMAR)

Xponance Inc. trimmed its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,460 shares of the company’s stock after selling 622 shares during the period. Xponance Inc.’s holdings in Smartsheet were worth $835,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Smartsheet during the 4th quarter worth approximately $33,000. Allworth Financial LP raised its stake in shares of Smartsheet by 2,503.4% during the 4th quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after buying an additional 726 shares in the last quarter. Castleview Partners LLC purchased a new position in shares of Smartsheet during the 3rd quarter worth approximately $39,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Smartsheet during the 3rd quarter worth approximately $105,000. Finally, CWM LLC raised its stake in shares of 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. 90.01% of the stock is owned by hedge funds and other institutional investors.

Smartsheet Trading Down 0.7 %

Shares of NYSE:SMAR opened at $38.08 on Friday. The business’s fifty day moving average price is $39.80 and its two-hundred day moving average price is $42.60. Smartsheet Inc has a one year low of $35.52 and a one year high of $52.81.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.17. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. The business had revenue of $256.95 million for the quarter, compared to analysts’ expectations of $254.99 million. As a group, sell-side analysts expect that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on SMAR. Royal Bank of Canada lowered their price target on Smartsheet from $48.00 to $36.00 and set a “sector perform” rating on the stock in a report on Friday, March 15th. Morgan Stanley lowered their price target on Smartsheet from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Oppenheimer lowered their price target on Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Jefferies Financial Group lowered their price target on Smartsheet from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Finally, Wells Fargo & Company lowered their price target on Smartsheet from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.75.

Insider Transactions at Smartsheet

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

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.