Cerity Partners LLC Makes New $205,000 Investment in Smartsheet Inc (NYSE:SMAR)

Cerity Partners LLC purchased a new stake in Smartsheet Inc (NYSE:SMAR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,291 shares of the company’s stock, valued at approximately $205,000.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Smartsheet by 256.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 152,522 shares of the company’s stock worth $7,294,000 after acquiring an additional 109,786 shares during the period. Moody National Bank Trust Division bought a new position in shares of Smartsheet in the fourth quarter worth $1,755,000. Keenan Capital LLC raised its stake in Smartsheet by 3.9% in the third quarter. Keenan Capital LLC now owns 1,200,433 shares of the company’s stock valued at $48,570,000 after purchasing an additional 45,000 shares in the last quarter. Seven Eight Capital LP bought a new stake in Smartsheet during the third quarter worth about $1,919,000. Finally, AQR Capital Management LLC lifted its position in Smartsheet by 234.5% during the third quarter. AQR Capital Management LLC now owns 348,300 shares of the company’s stock worth $14,092,000 after purchasing an additional 244,188 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on SMAR shares. BMO Capital Markets decreased their target price on shares of Smartsheet from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. JPMorgan Chase & Co. lowered their price objective on shares of Smartsheet from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Canaccord Genuity Group cut their target price on Smartsheet from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Jefferies Financial Group decreased their price target on Smartsheet from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, Wells Fargo & Company dropped their price objective on Smartsheet from $55.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.75.

Insider Activity at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,247 shares of the firm’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 transaction of $101,182.41. Following the completion of the transaction, the insider now owns 12,129 shares in the company, valued at approximately $546,168.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $101,182.41. Following the sale, the insider now owns 12,129 shares of the company’s stock, valued at $546,168.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Stephen Robert Branstetter sold 5,737 shares of Smartsheet stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $38.22, for a total value of $219,268.14. Following the completion of the transaction, the chief operating officer now directly owns 67,801 shares of the company’s stock, valued at $2,591,354.22. 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 ninety days. Insiders own 4.71% of the company’s stock.

Smartsheet Price Performance

SMAR opened at $38.34 on Tuesday. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $52.81. The company’s 50 day moving average price is $39.59 and its two-hundred day moving average price is $42.54. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of -48.53 and a beta of 0.73.

Smartsheet (NYSE:SMAR) last announced its 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. The firm had revenue of $256.95 million for the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. As a group, equities research analysts predict that Smartsheet Inc will post -0.43 EPS 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.