Motley Fool Asset Management LLC Boosts Stake in Smartsheet Inc (NYSE:SMAR)

Motley Fool Asset Management LLC raised its holdings in Smartsheet Inc (NYSE:SMAR) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,034 shares of the company’s stock after purchasing an additional 7,814 shares during the quarter. Motley Fool Asset Management LLC owned 0.05% of Smartsheet worth $3,445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina raised its position in Smartsheet by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 55,099 shares of the company’s stock valued at $2,229,000 after purchasing an additional 280 shares during the period. Cornercap Investment Counsel Inc. raised its holdings in shares of Smartsheet by 1.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 22,860 shares of the company’s stock valued at $1,093,000 after buying an additional 285 shares during the period. CWM LLC raised its holdings in shares of Smartsheet by 14.7% in the 3rd 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 period. Avior Wealth Management LLC raised its holdings in shares of Smartsheet by 5.9% in the 4th quarter. Avior Wealth Management LLC now owns 7,928 shares of the company’s stock valued at $379,000 after buying an additional 441 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Smartsheet by 3.9% in the 3rd quarter. Xponance Inc. now owns 18,082 shares of the company’s stock valued at $732,000 after buying an additional 684 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley cut their price objective on Smartsheet from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Oppenheimer lowered their price objective on Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price objective on shares of Smartsheet in a research report on Friday, March 15th. DA Davidson lowered their price objective on Smartsheet from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Finally, Barclays lowered their price objective on Smartsheet from $50.00 to $40.00 and set an “equal weight” rating for the company in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Smartsheet currently has an average rating of “Moderate Buy” and an average price target of $49.75.

Smartsheet Stock Down 0.7 %

SMAR traded down $0.28 on Thursday, hitting $38.08. 866,929 shares of the company traded hands, compared to its average volume of 1,551,105. The company has a 50 day moving average of $39.80 and a 200-day moving average of $42.60. The stock has a market capitalization of $5.23 billion, a PE ratio of -48.20 and a beta of 0.73. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $52.81.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.17. The firm had revenue of $256.95 million during the quarter, compared to the consensus estimate 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 anticipate that Smartsheet Inc will post -0.43 EPS for the current year.

Insider Buying and Selling at Smartsheet

In other news, CFO Pete Godbole sold 10,129 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total transaction of $391,688.43. Following the completion of the transaction, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $1,714,859.82. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Stephen Robert Branstetter sold 5,737 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $38.22, for a total value of $219,268.14. Following the sale, the chief operating officer now owns 67,801 shares in the company, valued at approximately $2,591,354.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Pete Godbole sold 10,129 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the sale, the chief financial officer now owns 44,346 shares in the company, valued at approximately $1,714,859.82. The disclosure for this sale can be found here. Insiders sold a total of 33,387 shares of company stock valued at $1,355,207 in the last ninety days. Insiders own 4.71% of the company’s stock.

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.