Walleye Capital LLC Sells 59,493 Shares of Smartsheet Inc (NYSE:SMAR)

Walleye Capital LLC lowered its position in shares of Smartsheet Inc (NYSE:SMARGet Rating) by 75.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,913 shares of the company’s stock after selling 59,493 shares during the period. Walleye Capital LLC’s holdings in Smartsheet were worth $1,036,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SMAR. Covestor Ltd bought a new stake in Smartsheet during the fourth quarter worth about $29,000. IronBridge Private Wealth LLC bought a new stake in shares of Smartsheet in the 4th quarter valued at about $32,000. Cornerstone Advisory LLC bought a new stake in shares of Smartsheet in the 4th quarter valued at about $39,000. Prospera Financial Services Inc bought a new stake in shares of Smartsheet in the 1st quarter valued at about $93,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Smartsheet by 204.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,660 shares of the company’s stock valued at $128,000 after acquiring an additional 1,114 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SMAR shares. DA Davidson lowered their target price on Smartsheet from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, September 2nd. Morgan Stanley lowered their price target on Smartsheet from $68.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, September 2nd. Canaccord Genuity Group lowered their price target on Smartsheet from $60.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, September 2nd. Royal Bank of Canada upped their price target on Smartsheet from $34.00 to $38.00 in a research report on Wednesday, June 8th. Finally, Oppenheimer lowered their price target on Smartsheet from $80.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, June 8th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Smartsheet presently has a consensus rating of “Moderate Buy” and an average price target of $49.27.

Smartsheet Stock Performance

SMAR stock opened at $36.31 on Monday. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of -20.87 and a beta of 1.41. The business’s 50 day moving average price is $33.91 and its two-hundred day moving average price is $39.83. Smartsheet Inc has a fifty-two week low of $27.05 and a fifty-two week high of $80.89.

Smartsheet (NYSE:SMARGet Rating) last posted its quarterly earnings results on Thursday, September 1st. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.10. The company had revenue of $186.70 million for the quarter, compared to the consensus estimate of $180.56 million. Smartsheet had a negative return on equity of 42.47% and a negative net margin of 33.88%. The firm’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.28) EPS. Sell-side analysts forecast that Smartsheet Inc will post -2.03 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Pete Godbole sold 1,104 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $36.64, for a total value of $40,450.56. Following the sale, the chief financial officer now owns 15,874 shares in the company, valued at approximately $581,623.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Smartsheet news, insider Megan Hansen sold 4,000 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $38.04, for a total transaction of $152,160.00. Following the sale, the insider now directly owns 4,155 shares in the company, valued at approximately $158,056.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Pete Godbole sold 1,104 shares of the stock in a transaction on Friday, September 16th. The shares were sold at an average price of $36.64, for a total value of $40,450.56. Following the sale, the chief financial officer now owns 15,874 shares in the company, valued at $581,623.36. The disclosure for this sale can be found here. Insiders have sold 34,633 shares of company stock worth $1,189,937 in the last 90 days. Insiders own 4.58% of the company’s stock.

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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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