Smartsheet Inc (NYSE:SMAR) is Dorsal Capital Management LP’s 10th Largest Position

Dorsal Capital Management LP raised its position in Smartsheet Inc (NYSE:SMARFree Report) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,225,000 shares of the company’s stock after purchasing an additional 125,000 shares during the quarter. Smartsheet makes up approximately 4.8% of Dorsal Capital Management LP’s holdings, making the stock its 10th biggest position. Dorsal Capital Management LP owned about 2.37% of Smartsheet worth $154,220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Smartsheet during the 4th quarter worth about $33,000. Allworth Financial LP raised its stake in shares of Smartsheet by 2,503.4% in the 4th quarter. Allworth Financial LP now owns 755 shares of the company’s stock valued at $36,000 after acquiring an additional 726 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Smartsheet in the 3rd quarter valued at approximately $105,000. Vinva Investment Management Ltd bought a new position in shares of Smartsheet in the 3rd quarter valued at approximately $131,000. Finally, M&T Bank Corp bought a new position in shares of Smartsheet in the 4th quarter valued at approximately $204,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, CFO Pete Godbole sold 10,129 shares of Smartsheet 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 completion of the transaction, the chief financial officer now owns 44,346 shares in the company, valued at approximately $1,714,859.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CRO Michael Arntz sold 7,702 shares of the business’s stock in a transaction 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 completion of the sale, the executive now owns 12,718 shares in the company, valued at $501,597.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Pete Godbole sold 10,129 shares of Smartsheet 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 sale, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at $1,714,859.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,770 shares of company stock worth $1,132,791. 4.52% of the stock is currently owned by insiders.

Smartsheet Stock Performance

Smartsheet stock opened at $44.33 on Monday. Smartsheet Inc has a one year low of $35.52 and a one year high of $49.42. The business has a 50 day simple moving average of $39.10 and a 200 day simple moving average of $42.37.

Smartsheet (NYSE:SMARGet Free Report) last posted 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 business had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. As a group, sell-side analysts anticipate that Smartsheet Inc will post -0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Canaccord Genuity Group raised their price objective on Smartsheet from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday. DA Davidson lowered their target price on Smartsheet from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, March 15th. KeyCorp initiated coverage on Smartsheet in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Jefferies Financial Group lowered their target price on Smartsheet from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. lowered their target price on Smartsheet from $54.00 to $50.00 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 assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.75.

Check Out Our Latest Research Report on SMAR

Smartsheet Company 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.

Featured Articles

Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

Receive News & Ratings for Smartsheet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smartsheet and related companies with MarketBeat.com's FREE daily email newsletter.