Landscape Capital Management L.L.C. purchased a new stake in Smartsheet Inc (NYSE:SMAR) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 36,120 shares of the company’s stock, valued at approximately $1,748,000.
Several other hedge funds have also made changes to their positions in SMAR. BNP Paribas Arbitrage SA raised its stake in Smartsheet by 240.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock valued at $27,000 after purchasing an additional 466 shares during the last quarter. Optimum Investment Advisors purchased a new stake in Smartsheet in the 1st quarter valued at $41,000. Evolution Wealth Advisors LLC purchased a new stake in Smartsheet in the 2nd quarter valued at $93,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Smartsheet in the 2nd quarter valued at $111,000. Finally, Systematic Financial Management LP purchased a new position in shares of Smartsheet during the 2nd quarter worth $118,000. 56.24% of the stock is owned by institutional investors and hedge funds.
In other Smartsheet news, Director Geoffrey T. Barker sold 16,700 shares of Smartsheet stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $48.71, for a total value of $813,457.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Michael Arntz sold 4,000 shares of Smartsheet stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $45.26, for a total value of $181,040.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,832,589 shares of company stock worth $473,052,550 in the last 90 days. 24.73% of the stock is currently owned by company insiders.
A number of equities analysts have recently weighed in on the company. Stephens reiterated a “buy” rating and set a $55.00 price target on shares of Smartsheet in a report on Tuesday, April 23rd. Wedbush initiated coverage on Smartsheet in a research report on Thursday, August 1st. They issued an “outperform” rating and a $62.00 price target on the stock. Zacks Investment Research lowered Smartsheet from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target (up previously from $45.00) on shares of Smartsheet in a research report on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Smartsheet currently has an average rating of “Buy” and an average price target of $53.17.
Shares of NYSE SMAR traded up $2.76 during midday trading on Friday, hitting $49.09. 50,727 shares of the company’s stock were exchanged, compared to its average volume of 1,115,923. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.63 and a quick ratio of 1.63. Smartsheet Inc has a twelve month low of $20.34 and a twelve month high of $55.79. The company has a market cap of $5.07 billion, a PE ratio of -79.40 and a beta of 2.00. The firm’s fifty day simple moving average is $51.18 and its 200-day simple moving average is $43.39.
Smartsheet (NYSE:SMAR) last released its quarterly earnings results on Wednesday, June 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.15. The firm had revenue of $56.19 million for the quarter, compared to the consensus estimate of $54.65 million. Smartsheet had a negative return on equity of 34.42% and a negative net margin of 30.04%. The firm’s quarterly revenue was up 54.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) EPS. Equities analysts anticipate that Smartsheet Inc will post -0.94 EPS for the current fiscal year.
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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