SG Americas Securities LLC Has $297,000 Holdings in Smartsheet Inc (NYSE:SMAR)

SG Americas Securities LLC grew its stake in shares of Smartsheet Inc (NYSE:SMAR) by 47.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,364 shares of the company’s stock after acquiring an additional 1,735 shares during the period. SG Americas Securities LLC’s holdings in Smartsheet were worth $297,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its holdings in Smartsheet by 37.5% during the second quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock valued at $39,000 after buying an additional 244 shares in the last quarter. Amalgamated Bank raised its stake in shares of Smartsheet by 3.5% in the 2nd quarter. Amalgamated Bank now owns 8,678 shares of the company’s stock valued at $383,000 after buying an additional 294 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Smartsheet by 24.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,822 shares of the company’s stock worth $70,000 after buying an additional 360 shares in the last quarter. Washington Capital Management Inc. lifted its position in shares of Smartsheet by 2.1% during the 2nd quarter. Washington Capital Management Inc. now owns 19,775 shares of the company’s stock worth $872,000 after buying an additional 400 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Smartsheet by 3.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,014 shares of the company’s stock valued at $670,000 after purchasing an additional 402 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

SMAR has been the subject of a number of research reports. Wolfe Research restated a “peer perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. Royal Bank of Canada boosted their price target on shares of Smartsheet from $51.00 to $56.50 and gave the stock a “sector perform” rating in a research note on Wednesday, September 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $56.50 price objective (down from $59.00) on shares of Smartsheet in a research note on Wednesday, September 25th. DA Davidson reaffirmed a “neutral” rating and issued a $56.50 price target (up from $55.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Finally, Truist Financial reiterated a “hold” rating and set a $56.50 target price (down from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.82.

Smartsheet Trading Down 0.2 %

Shares of NYSE SMAR opened at $55.97 on Friday. The business has a 50-day moving average of $52.08 and a 200-day moving average of $45.38. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of -90.27 and a beta of 0.75. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $56.09.

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

Smartsheet declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 5th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 3,571 shares of Smartsheet stock in a transaction that occurred 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 sale, the insider now owns 9,958 shares of the company’s stock, valued at approximately $551,374.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Jolene Lau Marshall sold 3,571 shares of the business’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 transaction, the insider now owns 9,958 shares of the company’s stock, valued at approximately $551,374.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $55.35, for a total transaction of $276,750.00. Following the completion of the transaction, the chief executive officer now directly owns 583,762 shares of the company’s stock, valued at approximately $32,311,226.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,730 shares of company stock valued at $1,968,866. Insiders own 4.52% 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.