Russell Investments Group Ltd. Purchases 5,057 Shares of Smartsheet Inc (NYSE:SMAR)

Russell Investments Group Ltd. grew its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 215,058 shares of the company’s stock after purchasing an additional 5,057 shares during the quarter. Russell Investments Group Ltd.’s holdings in Smartsheet were worth $10,286,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. RGM Capital LLC bought a new position in Smartsheet in the third quarter worth approximately $50,705,000. Eminence Capital LP increased its stake in shares of Smartsheet by 58.3% in the 3rd quarter. Eminence Capital LP now owns 3,329,155 shares of the company’s stock worth $134,698,000 after purchasing an additional 1,226,189 shares in the last quarter. Vanguard Group Inc. raised its holdings in Smartsheet by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 13,307,701 shares of the company’s stock worth $538,430,000 after purchasing an additional 261,836 shares during the period. Lead Edge Capital Management LLC bought a new position in Smartsheet in the 3rd quarter worth $10,216,000. 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 valued at $14,092,000 after purchasing an additional 244,188 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, CFO Pete Godbole sold 10,129 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now 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 SEC, which is accessible through the SEC website. In related news, CRO Michael Arntz sold 7,702 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the sale, the executive now directly owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Pete Godbole sold 10,129 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $38.67, for a total value of $391,688.43. Following the transaction, the chief financial officer now owns 44,346 shares of the company’s stock, valued at approximately $1,714,859.82. The disclosure for this sale can be found here. Insiders sold 23,568 shares of company stock valued at $914,723 in the last ninety days. Insiders own 4.71% of the company’s stock.

Smartsheet Price Performance

SMAR stock opened at $38.58 on Monday. The firm has a fifty day moving average price of $39.27 and a 200 day moving average price of $42.41. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $52.81.

Smartsheet (NYSE:SMAR) last posted its earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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, research analysts forecast that Smartsheet Inc will post -0.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

SMAR has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $57.00 price target on shares of Smartsheet in a research report on Friday, March 15th. 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 research note on Monday, March 18th. Oppenheimer dropped their price target on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. UBS Group decreased their price objective on shares of Smartsheet from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Finally, KeyCorp initiated coverage on shares of Smartsheet in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. One research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.75.

Smartsheet Company 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.