US Bancorp DE Has $97,000 Holdings in Smartsheet Inc (NYSE:SMAR)

US Bancorp DE increased its position in Smartsheet Inc (NYSE:SMAR) by 12.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,749 shares of the company’s stock after purchasing an additional 200 shares during the period. US Bancorp DE’s holdings in Smartsheet were worth $97,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMAR. International Assets Investment Management LLC purchased a new stake in shares of Smartsheet in the second quarter valued at $25,000. Versant Capital Management Inc purchased a new stake in Smartsheet in the 2nd quarter worth about $31,000. Raleigh Capital Management Inc. acquired a new stake in Smartsheet during the 3rd quarter worth about $31,000. Waldron Private Wealth LLC purchased a new position in Smartsheet during the 3rd quarter valued at about $33,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Smartsheet in the 1st quarter valued at about $35,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Smartsheet Stock Down 0.0 %

SMAR opened at $55.85 on Friday. The stock’s 50 day moving average price is $54.92 and its two-hundred day moving average price is $47.84. The firm has a market capitalization of $7.76 billion, a P/E ratio of -180.16 and a beta of 0.74. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.15. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. The business had revenue of $276.41 million for the quarter, compared to the consensus estimate of $274.23 million. During the same quarter last year, the company posted ($0.23) earnings per share. Smartsheet’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, analysts anticipate that Smartsheet Inc will post -0.05 earnings per share for the current year.

Smartsheet announced that its board has authorized a share repurchase plan on Thursday, September 5th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Canaccord Genuity Group cut shares of Smartsheet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 25th. Royal Bank of Canada restated a “sector perform” rating and set a $56.50 price target on shares of Smartsheet in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating and set a $57.00 price objective on shares of Smartsheet in a report on Tuesday, September 24th. DA Davidson restated a “neutral” rating and issued a $56.50 target price (up previously from $55.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Finally, William Blair reaffirmed a “market perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Smartsheet presently has an average rating of “Hold” and an average price target of $55.82.

Insider Buying and Selling

In related news, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $56.05, for a total value of $280,250.00. Following the completion of the transaction, the chief executive officer now directly owns 578,762 shares of the company’s stock, valued at $32,439,610.10. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jolene Lau Marshall sold 3,571 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $50.59, for a total transaction of $180,656.89. Following the completion of the sale, the insider now directly owns 13,529 shares in the company, valued at $684,432.11. This trade represents a 20.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,989 shares of company stock valued at $2,068,874 over the last three months. 4.52% of the stock is owned by corporate insiders.

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.