Motley Fool Asset Management LLC Sells 12,360 Shares of Smartsheet Inc (SMAR)

Motley Fool Asset Management LLC reduced its position in shares of Smartsheet Inc (NYSE:SMAR) by 19.4% during the 1st quarter, HoldingsChannel reports. The fund owned 51,474 shares of the company’s stock after selling 12,360 shares during the period. Motley Fool Asset Management LLC’s holdings in Smartsheet were worth $2,100,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Whale Rock Capital Management LLC boosted its stake in shares of Smartsheet by 320.6% during the 4th quarter. Whale Rock Capital Management LLC now owns 2,687,999 shares of the company’s stock worth $66,824,000 after acquiring an additional 2,048,846 shares in the last quarter. CI Investments Inc. purchased a new stake in shares of Smartsheet during the 4th quarter worth about $40,607,000. BlackRock Inc. boosted its stake in shares of Smartsheet by 8.0% during the 4th quarter. BlackRock Inc. now owns 811,452 shares of the company’s stock worth $20,173,000 after acquiring an additional 60,037 shares in the last quarter. Morgan Stanley boosted its stake in shares of Smartsheet by 1,011.4% during the 3rd quarter. Morgan Stanley now owns 592,133 shares of the company’s stock worth $18,510,000 after acquiring an additional 538,853 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in shares of Smartsheet by 16.7% during the 3rd quarter. Vanguard Group Inc now owns 587,606 shares of the company’s stock worth $18,369,000 after acquiring an additional 83,956 shares in the last quarter. 37.98% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently issued reports on SMAR. Stephens reissued a “buy” rating and set a $55.00 target price on shares of Smartsheet in a research note on Tuesday, April 23rd. Needham & Company LLC began coverage on shares of Smartsheet in a research note on Thursday, April 11th. They set a “buy” rating and a $45.00 target price on the stock. Oppenheimer began coverage on shares of Smartsheet in a research note on Thursday, April 4th. They set an “outperform” rating and a $50.00 target price on the stock. Zacks Investment Research lowered shares of Smartsheet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Finally, DA Davidson started coverage on shares of Smartsheet in a research note on Thursday, March 21st. They set a “neutral” rating and a $45.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Smartsheet presently has a consensus rating of “Buy” and an average price target of $51.18.

Shares of Smartsheet stock opened at $41.97 on Friday. The stock has a market capitalization of $4.38 billion and a P/E ratio of -67.69. Smartsheet Inc has a twelve month low of $19.12 and a twelve month high of $49.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 1.81.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.12. The firm had revenue of $52.20 million for the quarter, compared to analyst estimates of $49.72 million. Smartsheet had a negative net margin of 30.32% and a negative return on equity of 49.01%. Smartsheet’s quarterly revenue was up 58.2% compared to the same quarter last year. Sell-side analysts forecast that Smartsheet Inc will post -1 EPS for the current year.

In other Smartsheet news, VP Kara Hamilton sold 7,500 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $37.26, for a total value of $279,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Insight Holdings Group, Llc sold 371,513 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $40.31, for a total transaction of $14,975,689.03. The disclosure for this sale can be found here. Insiders sold a total of 954,576 shares of company stock worth $39,140,046 over the last ninety days. 24.73% of the stock is currently owned by corporate insiders.

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About Smartsheet

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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