Goldman Sachs Group Inc. cut its stake in Smartsheet Inc (NYSE:SMAR – Free Report) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,287,936 shares of the company’s stock after selling 10,893 shares during the period. Goldman Sachs Group Inc. owned about 0.95% of Smartsheet worth $61,589,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Smartsheet by 2.0% in the third quarter. Vanguard Group Inc. now owns 13,307,701 shares of the company’s stock worth $538,430,000 after purchasing an additional 261,836 shares during the last quarter. Eminence Capital LP grew its holdings in shares of Smartsheet by 58.3% in the third quarter. Eminence Capital LP now owns 3,329,155 shares of the company’s stock worth $134,698,000 after purchasing an additional 1,226,189 shares during the last quarter. Dorsal Capital Management LP grew its holdings in shares of Smartsheet by 4.0% in the fourth quarter. Dorsal Capital Management LP now owns 3,225,000 shares of the company’s stock worth $154,220,000 after purchasing an additional 125,000 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Smartsheet by 9.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,706,943 shares of the company’s stock worth $129,446,000 after purchasing an additional 224,513 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its holdings in shares of Smartsheet by 8.9% in the third quarter. TimesSquare Capital Management LLC now owns 2,100,142 shares of the company’s stock worth $84,972,000 after purchasing an additional 172,009 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.
Smartsheet Trading Down 1.5 %
NYSE:SMAR opened at $41.24 on Wednesday. The company has a market cap of $5.71 billion, a PE ratio of -66.52 and a beta of 0.75. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $49.42. The company’s 50 day moving average is $39.65 and its two-hundred day moving average is $42.38.
Insiders Place Their Bets
Wall Street Analyst Weigh In
A number of research firms have recently commented on SMAR. UBS Group upped their price target on shares of Smartsheet from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Royal Bank of Canada raised their target price on shares of Smartsheet from $36.00 to $43.00 and gave the company a “sector perform” rating in a research report on Thursday, June 6th. Wells Fargo & Company raised their target price on shares of Smartsheet from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, June 6th. Needham & Company LLC reissued a “buy” rating and set a $57.00 target price on shares of Smartsheet in a research report on Thursday, June 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Smartsheet from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.75.
Read Our Latest Analysis on Smartsheet
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.
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