Andar Capital Management HK Ltd Invests $3.83 Million in Smartsheet Inc (NYSE:SMAR)

Andar Capital Management HK Ltd bought a new position in shares of Smartsheet Inc (NYSE:SMAR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 80,000 shares of the company’s stock, valued at approximately $3,826,000. Smartsheet comprises approximately 5.4% of Andar Capital Management HK Ltd’s investment portfolio, making the stock its 7th biggest holding. Andar Capital Management HK Ltd owned 0.06% of Smartsheet at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SMAR. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Smartsheet in the fourth quarter valued at about $33,000. Allworth Financial LP grew its stake in shares of Smartsheet by 2,503.4% during the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after acquiring an additional 726 shares during the last quarter. Castleview Partners LLC purchased a new stake in shares of Smartsheet during the third quarter worth about $39,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Smartsheet during the third quarter worth about $105,000. Finally, CWM LLC boosted its position in Smartsheet by 14.7% in the third quarter. CWM LLC now owns 3,044 shares of the company’s stock valued at $123,000 after buying an additional 390 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Smartsheet

In other news, insider Jolene Lau Marshall sold 2,247 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $45.03, for a total transaction of $101,182.41. Following the completion of the transaction, the insider now directly owns 12,129 shares in the company, valued at approximately $546,168.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CRO Michael Arntz sold 7,572 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $44.81, for a total transaction of $339,301.32. Following the completion of the transaction, the executive now directly owns 7,148 shares in the company, valued at approximately $320,301.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jolene Lau Marshall sold 2,247 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $45.03, for a total value of $101,182.41. Following the transaction, the insider now owns 12,129 shares of the company’s stock, valued at $546,168.87. The disclosure for this sale can be found here. Insiders sold a total of 33,387 shares of company stock worth $1,355,207 in the last three months. 4.71% of the stock is owned by corporate insiders.

Smartsheet Stock Performance

Shares of SMAR traded up $1.42 during trading hours on Wednesday, hitting $39.25. 796,155 shares of the stock were exchanged, compared to its average volume of 1,527,565. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $52.81. The company has a market cap of $5.39 billion, a price-to-earnings ratio of -48.78 and a beta of 0.73. The stock’s 50-day moving average price is $39.47 and its two-hundred day moving average price is $42.51.

Smartsheet (NYSE:SMAR) last issued its earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.17. The company had revenue of $256.95 million during the quarter, compared to analysts’ expectations of $254.99 million. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. On average, research analysts expect that Smartsheet Inc will post -0.43 earnings per share for the current year.

Analysts Set New Price Targets

SMAR has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their target price on Smartsheet from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. JPMorgan Chase & Co. decreased their price target on Smartsheet from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 15th. KeyCorp began coverage on Smartsheet in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $57.00 price target on shares of Smartsheet in a report on Friday, March 15th. Finally, Citigroup raised Smartsheet from a “neutral” rating to a “buy” rating and boosted their price target for the company from $56.00 to $63.00 in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Smartsheet presently has a consensus rating of “Moderate Buy” and an average price target of $49.75.

Smartsheet 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.