Smartsheet Inc (NYSE:SMAR) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its holdings in Smartsheet Inc (NYSE:SMAR) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,275 shares of the company’s stock after selling 2,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Smartsheet were worth $1,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Smartsheet in the 4th quarter valued at approximately $33,000. Allworth Financial LP lifted its holdings in shares of Smartsheet by 2,503.4% in the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock valued at $36,000 after purchasing an additional 726 shares in the last quarter. Castleview Partners LLC purchased a new stake in shares of Smartsheet in the third quarter valued at $39,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Smartsheet in the third quarter worth $105,000. Finally, CWM LLC lifted its stake in Smartsheet by 14.7% in the 3rd quarter. CWM LLC now owns 3,044 shares of the company’s stock worth $123,000 after acquiring an additional 390 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Smartsheet

In other news, CRO Michael Arntz sold 7,572 shares of Smartsheet stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $44.81, for a total transaction of $339,301.32. Following the sale, the executive now owns 7,148 shares of the company’s stock, valued at approximately $320,301.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Michael Arntz sold 7,572 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $44.81, for a total value of $339,301.32. Following the completion of the transaction, the executive now owns 7,148 shares in the company, valued at approximately $320,301.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jolene Lau Marshall sold 2,247 shares of the firm’s stock in a transaction dated 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 directly owns 12,129 shares of the company’s stock, 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 three months. Company insiders own 4.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SMAR shares. Morgan Stanley lowered their target price on Smartsheet from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. KeyCorp initiated coverage on Smartsheet in a report on Thursday, March 21st. They set a “sector weight” rating for the company. DA Davidson lowered their target price on Smartsheet from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Canaccord Genuity Group cut their price target on Smartsheet from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Finally, Jefferies Financial Group lowered 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. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Smartsheet has a consensus rating of “Moderate Buy” and a consensus price target of $49.75.

Smartsheet Stock Performance

Shares of Smartsheet stock opened at $38.28 on Monday. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $52.81. The company’s fifty day simple moving average is $39.70 and its 200-day simple moving average is $42.57.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings results 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. The company had revenue of $256.95 million for the quarter, compared to analyst estimates of $254.99 million. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. Equities analysts forecast that Smartsheet Inc will post -0.43 earnings per share for the current year.

Smartsheet 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.