6,879 Shares in Smartsheet Inc (NYSE:SMAR) Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in Smartsheet Inc (NYSE:SMARGet Rating) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 6,879 shares of the company’s stock, valued at approximately $216,000.

Other large investors have also made changes to their positions in the company. Versor Investments LP raised its position in shares of Smartsheet by 129.6% in the 1st quarter. Versor Investments LP now owns 7,511 shares of the company’s stock worth $411,000 after buying an additional 4,239 shares during the period. Jennison Associates LLC raised its position in shares of Smartsheet by 15.4% in the 1st quarter. Jennison Associates LLC now owns 943,051 shares of the company’s stock worth $51,660,000 after buying an additional 125,517 shares during the period. Russell Investments Group Ltd. raised its position in shares of Smartsheet by 31.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,450 shares of the company’s stock worth $1,205,000 after buying an additional 9,298 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Smartsheet in the 1st quarter worth $692,000. Finally, National Bank of Canada FI raised its position in shares of Smartsheet by 133,149.4% in the 2nd quarter. National Bank of Canada FI now owns 529,000 shares of the company’s stock worth $16,626,000 after buying an additional 528,603 shares during the period. 90.24% of the stock is owned by hedge funds and other institutional investors.

Smartsheet Price Performance

Shares of Smartsheet stock opened at $31.47 on Friday. The company has a market capitalization of $4.07 billion, a PE ratio of -18.09 and a beta of 1.27. Smartsheet Inc has a 1-year low of $25.09 and a 1-year high of $80.89. The business has a 50-day moving average of $33.67 and a 200-day moving average of $34.65.

Smartsheet (NYSE:SMARGet Rating) last posted its quarterly earnings results on Thursday, September 1st. The company reported ($0.46) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.10. The business had revenue of $186.70 million during 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 company’s revenue for the quarter was up 41.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.28) earnings per share. On average, equities analysts expect that Smartsheet Inc will post -2.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jolene Lau Marshall sold 6,000 shares of Smartsheet stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $30.90, for a total value of $185,400.00. Following the completion of the transaction, the insider now directly owns 12,501 shares in the company, valued at $386,280.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Smartsheet news, insider Jolene Lau Marshall sold 6,000 shares of Smartsheet stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $30.90, for a total value of $185,400.00. Following the completion of the transaction, the insider now directly owns 12,501 shares in the company, valued at $386,280.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Megan Hansen sold 4,000 shares of Smartsheet stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $38.04, for a total value of $152,160.00. Following the completion of the transaction, the insider now owns 4,155 shares of the company’s stock, valued at $158,056.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,854 shares of company stock worth $1,055,761. Corporate insiders own 4.58% of the company’s stock.

Analysts Set New Price Targets

SMAR has been the topic of several research reports. BMO Capital Markets cut their price objective on Smartsheet from $43.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, September 2nd. DA Davidson cut their price objective on Smartsheet from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, September 2nd. William Blair reissued an “outperform” rating on shares of Smartsheet in a research report on Friday, September 23rd. Canaccord Genuity Group cut their price objective on Smartsheet from $60.00 to $45.00 in a research report on Friday, September 2nd. Finally, Truist Financial cut their price objective on Smartsheet from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, September 2nd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.59.

About Smartsheet

(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

Want to see what other hedge funds are holding SMAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Smartsheet Inc (NYSE:SMARGet Rating).

Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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