Arizona State Retirement System Increases Position in Smartsheet Inc (NYSE:SMAR)

Arizona State Retirement System increased its stake in shares of Smartsheet Inc (NYSE:SMARGet Rating) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,348 shares of the company’s stock after buying an additional 358 shares during the quarter. Arizona State Retirement System’s holdings in Smartsheet were worth $1,772,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Xponance Inc. grew its holdings in shares of Smartsheet by 2.4% during the first quarter. Xponance Inc. now owns 13,970 shares of the company’s stock valued at $765,000 after buying an additional 327 shares during the last quarter. Stanley Laman Group Ltd. grew its holdings in shares of Smartsheet by 28.0% during the first quarter. Stanley Laman Group Ltd. now owns 39,575 shares of the company’s stock valued at $2,168,000 after buying an additional 8,661 shares during the last quarter. Alamar Capital Management LLC purchased a new stake in shares of Smartsheet during the fourth quarter valued at $1,352,000. Eventide Asset Management LLC grew its holdings in shares of Smartsheet by 2.1% during the fourth quarter. Eventide Asset Management LLC now owns 678,000 shares of the company’s stock valued at $52,511,000 after buying an additional 13,869 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in Smartsheet by 17.7% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 678,766 shares of the company’s stock valued at $37,183,000 after purchasing an additional 101,931 shares during the last quarter. 88.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, Director Elena Gomez sold 6,250 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $30.47, for a total value of $190,437.50. Following the completion of the sale, the director now owns 6,003 shares in the company, valued at approximately $182,911.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jolene Lau Marshall sold 5,000 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $31.77, for a total value of $158,850.00. Following the completion of the sale, the insider now owns 17,597 shares of the company’s stock, valued at approximately $559,056.69. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elena Gomez sold 6,250 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $30.47, for a total transaction of $190,437.50. Following the completion of the sale, the director now directly owns 6,003 shares of the company’s stock, valued at approximately $182,911.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,035 shares of company stock worth $531,626. Insiders own 4.58% of the company’s stock.

Smartsheet Stock Down 0.4 %

SMAR opened at $30.06 on Monday. Smartsheet Inc has a twelve month low of $27.05 and a twelve month high of $85.65. The company has a 50-day moving average price of $32.77 and a 200 day moving average price of $45.50. The company has a market cap of $3.89 billion, a PE ratio of -18.67 and a beta of 1.58.

Smartsheet (NYSE:SMARGet Rating) last released its quarterly earnings results on Tuesday, June 7th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.01. The firm had revenue of $168.31 million during the quarter, compared to the consensus estimate of $162.55 million. Smartsheet had a negative net margin of 33.96% and a negative return on equity of 36.73%. The company’s revenue for the quarter was up 43.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.28) EPS. As a group, sell-side analysts expect that Smartsheet Inc will post -1.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SMAR shares. Oppenheimer lowered their price target on shares of Smartsheet from $80.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, June 8th. Wells Fargo & Company lowered their price target on shares of Smartsheet from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, June 7th. BMO Capital Markets lowered their price target on shares of Smartsheet from $50.00 to $43.00 in a report on Wednesday, June 8th. JPMorgan Chase & Co. lowered their price target on shares of Smartsheet from $80.00 to $58.00 in a report on Wednesday, June 8th. Finally, Morgan Stanley lowered their target price on shares of Smartsheet from $75.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 8th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.93.

Smartsheet Company Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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