Eventide Asset Management LLC boosted its stake in Smartsheet Inc (NYSE:SMAR – Get Rating) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 678,000 shares of the company’s stock after purchasing an additional 13,869 shares during the quarter. Eventide Asset Management LLC owned about 0.53% of Smartsheet worth $52,511,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in Smartsheet by 3,130.0% in the fourth quarter. Lindbrook Capital LLC now owns 323 shares of the company’s stock worth $25,000 after purchasing an additional 313 shares during the period. Covestor Ltd acquired a new stake in Smartsheet in the fourth quarter worth $29,000. National Bank of Canada FI acquired a new stake in Smartsheet in the fourth quarter worth $31,000. Quadrant Capital Group LLC grew its holdings in Smartsheet by 84.7% in the fourth quarter. Quadrant Capital Group LLC now owns 484 shares of the company’s stock worth $37,000 after purchasing an additional 222 shares during the period. Finally, CWM LLC acquired a new position in shares of Smartsheet during the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 88.88% of the company’s stock.
In other news, CRO Michael Arntz sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $55.61, for a total value of $116,781.00. Following the completion of the sale, the executive now directly owns 9,607 shares in the company, valued at approximately $534,245.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Geoffrey T. Barker sold 1,125 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $50.00, for a total transaction of $56,250.00. Following the completion of the sale, the director now owns 315,131 shares of the company’s stock, valued at $15,756,550. The disclosure for this sale can be found here. In the last three months, insiders sold 23,703 shares of company stock valued at $1,301,076. Corporate insiders own 4.58% of the company’s stock.
Smartsheet (NYSE:SMAR – Get Rating) last released its quarterly earnings results on Tuesday, March 15th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.03. Smartsheet had a negative net margin of 31.06% and a negative return on equity of 29.45%. The business had revenue of $157.39 million during the quarter, compared to analysts’ expectations of $151.60 million. During the same quarter in the previous year, the company earned ($0.21) EPS. The business’s quarterly revenue was up 43.2% compared to the same quarter last year. As a group, analysts anticipate that Smartsheet Inc will post -1.59 EPS for the current fiscal year.
A number of research analysts have recently issued reports on SMAR shares. Truist Financial reduced their price objective on shares of Smartsheet from $100.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, March 16th. Wells Fargo & Company lowered their price objective on shares of Smartsheet from $70.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 18th. Oppenheimer lowered their price objective on shares of Smartsheet from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 16th. BMO Capital Markets reduced their target price on shares of Smartsheet from $83.00 to $55.00 and set an “outperform” rating for the company in a research note on Monday, March 14th. Finally, KeyCorp reduced their target price on shares of Smartsheet from $100.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, March 16th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $62.33.
Smartsheet Company Profile (Get Rating)
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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