Smartsheet Inc (NYSE:SMAR) Shares Bought by Advisory Services Network LLC

Advisory Services Network LLC raised its position in shares of Smartsheet Inc (NYSE:SMARFree Report) by 21.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,682 shares of the company’s stock after acquiring an additional 1,184 shares during the quarter. Advisory Services Network LLC’s holdings in Smartsheet were worth $320,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Treasurer of the State of North Carolina boosted its stake in Smartsheet by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 55,099 shares of the company’s stock worth $2,229,000 after purchasing an additional 280 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its position in Smartsheet by 1.3% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 22,860 shares of the company’s stock worth $1,093,000 after acquiring an additional 285 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Smartsheet by 3.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,014 shares of the company’s stock valued at $670,000 after acquiring an additional 402 shares in the last quarter. Avior Wealth Management LLC raised its holdings in Smartsheet by 5.9% in the 4th quarter. Avior Wealth Management LLC now owns 7,928 shares of the company’s stock valued at $379,000 after acquiring an additional 441 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Smartsheet during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling at Smartsheet

In other news, CRO Michael Arntz sold 7,702 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the completion of the transaction, the executive now owns 12,718 shares in the company, valued at approximately $501,597.92. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Smartsheet news, COO Stephen Robert Branstetter sold 5,737 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 67,801 shares in the company, valued at $2,591,354.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Michael Arntz sold 7,702 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $39.44, for a total transaction of $303,766.88. Following the transaction, the executive now owns 12,718 shares in the company, valued at $501,597.92. The disclosure for this sale can be found here. Insiders have sold 28,770 shares of company stock worth $1,132,791 over the last three months. Insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

Shares of SMAR opened at $37.44 on Tuesday. The firm’s fifty day simple moving average is $38.89 and its 200-day simple moving average is $42.38. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $52.81.

Smartsheet (NYSE:SMARGet Free Report) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. Sell-side analysts anticipate that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SMAR shares. Jefferies Financial Group reduced their price objective on Smartsheet from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Royal Bank of Canada dropped their price objective on shares of Smartsheet from $48.00 to $36.00 and set a “sector perform” rating for the company in a report on Friday, March 15th. UBS Group reduced their target price on shares of Smartsheet from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Morgan Stanley dropped their price target on shares of Smartsheet from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Finally, Oppenheimer reduced their price target on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.75.

View Our Latest Research Report on SMAR

Smartsheet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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