Smartsheet Inc (NYSE:SMAR) Shares Purchased by Cwm LLC

Cwm LLC lifted its holdings in Smartsheet Inc (NYSE:SMAR) by 133.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,380 shares of the company’s stock after purchasing an additional 26,511 shares during the period. Cwm LLC’s holdings in Smartsheet were worth $2,568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Swedbank AB acquired a new stake in shares of Smartsheet in the first quarter valued at about $38,388,000. AQR Capital Management LLC increased its stake in Smartsheet by 188.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,349,639 shares of the company’s stock worth $58,844,000 after buying an additional 881,004 shares in the last quarter. Engaged Capital LLC purchased a new position in shares of Smartsheet in the second quarter valued at approximately $29,600,000. Marshall Wace LLP boosted its stake in shares of Smartsheet by 40.9% in the second quarter. Marshall Wace LLP now owns 1,835,994 shares of the company’s stock worth $80,931,000 after acquiring an additional 533,278 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Smartsheet during the second quarter worth approximately $21,254,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Smartsheet Stock Up 0.4 %

SMAR opened at $56.03 on Tuesday. The business has a fifty day simple moving average of $51.24 and a 200-day simple moving average of $44.94. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $56.09. The firm has a market cap of $7.75 billion, a P/E ratio of -90.37 and a beta of 0.75.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. The business had revenue of $276.41 million during the quarter, compared to the consensus estimate of $274.23 million. Smartsheet had a negative return on equity of 4.29% and a negative net margin of 4.07%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.23) earnings per share. Sell-side analysts expect that Smartsheet Inc will post -0.05 earnings per share for the current year.

Smartsheet declared that its board has approved a stock repurchase program on Thursday, September 5th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Smartsheet news, COO Stephen Robert Branstetter sold 2,004 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $48.00, for a total value of $96,192.00. Following the sale, the chief operating officer now directly owns 61,791 shares in the company, valued at $2,965,968. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Smartsheet news, insider Jolene Lau Marshall sold 3,571 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $55.37, for a total value of $197,726.27. Following the completion of the transaction, the insider now owns 9,958 shares in the company, valued at $551,374.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Stephen Robert Branstetter sold 2,004 shares of Smartsheet stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $48.00, for a total value of $96,192.00. Following the sale, the chief operating officer now owns 61,791 shares in the company, valued at $2,965,968. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,734 shares of company stock worth $2,065,058. Corporate insiders own 4.52% of the company’s stock.

Wall Street Analyst Weigh In

SMAR has been the topic of several recent research reports. DA Davidson reaffirmed a “neutral” rating and set a $56.50 target price (up previously from $55.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Morgan Stanley upped their price objective on shares of Smartsheet from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Guggenheim raised their target price on shares of Smartsheet from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Wolfe Research restated a “peer perform” rating on shares of Smartsheet in a research report on Wednesday, September 25th. Finally, Royal Bank of Canada upped their target price on Smartsheet from $51.00 to $56.50 and gave the company a “sector perform” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $55.82.

Smartsheet Company 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.