Capital International Sarl Grows Position in Smartsheet Inc (NYSE:SMAR)

Capital International Sarl increased its holdings in Smartsheet Inc (NYSE:SMAR) by 2.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,778 shares of the company’s stock after acquiring an additional 1,874 shares during the quarter. Capital International Sarl owned approximately 0.06% of Smartsheet worth $3,302,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Legato Capital Management LLC lifted its position in shares of Smartsheet by 60.1% during the fourth quarter. Legato Capital Management LLC now owns 8,735 shares of the company’s stock valued at $418,000 after buying an additional 3,279 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Smartsheet by 66.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 64,730 shares of the company’s stock valued at $3,095,000 after buying an additional 25,940 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Smartsheet during the fourth quarter valued at about $33,000. Washington Capital Management Inc. lifted its position in shares of Smartsheet by 20.2% during the fourth quarter. Washington Capital Management Inc. now owns 13,100 shares of the company’s stock valued at $626,000 after buying an additional 2,200 shares during the last quarter. Finally, Vanderbilt University purchased a new stake in shares of Smartsheet during the fourth quarter valued at about $1,869,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Smartsheet

In other news, COO Stephen Robert Branstetter sold 2,004 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $48.00, for a total transaction of $96,192.00. Following the sale, the chief operating officer now owns 61,791 shares of the company’s stock, valued at approximately $2,965,968. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Stephen Robert Branstetter sold 2,004 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $48.00, for a total transaction of $96,192.00. Following the sale, the chief operating officer now owns 61,791 shares of the company’s stock, valued at approximately $2,965,968. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jolene Lau Marshall sold 3,994 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $43.11, for a total transaction of $172,181.34. Following the sale, the insider now directly owns 16,567 shares in the company, valued at approximately $714,203.37. The disclosure for this sale can be found here. Insiders have sold 34,390 shares of company stock valued at $1,484,631 in the last 90 days. 4.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on SMAR shares. Guggenheim reissued a “buy” rating and set a $56.00 price target on shares of Smartsheet in a research report on Tuesday, June 25th. Barclays increased their price target on shares of Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th. UBS Group upped their price objective on shares of Smartsheet from $54.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Morgan Stanley upped their price objective on shares of Smartsheet from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. Finally, BMO Capital Markets upped their price objective on shares of Smartsheet from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.00.

Smartsheet Price Performance

NYSE:SMAR traded up $1.28 during midday trading on Friday, hitting $48.41. The company’s stock had a trading volume of 1,346,259 shares, compared to its average volume of 1,528,214. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $49.42. The firm’s 50 day moving average is $42.86 and its 200-day moving average is $42.12. The firm has a market cap of $6.70 billion, a P/E ratio of -78.08 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings results on Wednesday, June 5th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. The company had revenue of $262.98 million for the quarter, compared to the consensus estimate of $258.06 million. As a group, analysts forecast that Smartsheet Inc will post -0.24 EPS for the current year.

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.