Baird Financial Group Inc. Lowers Position in Smartsheet Inc (NYSE:SMAR)

Baird Financial Group Inc. lessened its stake in Smartsheet Inc (NYSE:SMARGet Rating) by 3.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 30,393 shares of the company’s stock after selling 1,154 shares during the quarter. Baird Financial Group Inc.’s holdings in Smartsheet were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of SMAR. Ellevest Inc. lifted its position in shares of Smartsheet by 1,141.0% during the 2nd quarter. Ellevest Inc. now owns 1,030 shares of the company’s stock valued at $32,000 after buying an additional 947 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Smartsheet during the 1st quarter valued at approximately $93,000. Advisors Asset Management Inc. lifted its position in shares of Smartsheet by 39.1% during the 1st quarter. Advisors Asset Management Inc. now owns 3,212 shares of the company’s stock valued at $176,000 after buying an additional 903 shares in the last quarter. Level Four Advisory Services LLC purchased a new position in shares of Smartsheet during the 1st quarter valued at approximately $208,000. Finally, Gladstone Institutional Advisory LLC purchased a new position in shares of Smartsheet during the 1st quarter valued at approximately $210,000. Hedge funds and other institutional investors own 90.24% of the company’s stock.

Insider Transactions at Smartsheet

In other news, insider Jolene Lau Marshall sold 6,001 shares of the stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $31.45, for a total transaction of $188,731.45. Following the completion of the transaction, the insider now directly owns 12,501 shares in the company, valued at approximately $393,156.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Elena Gomez sold 6,250 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $37.17, for a total transaction of $232,312.50. Following the completion of the transaction, the director now directly owns 6,003 shares in the company, valued at approximately $223,131.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jolene Lau Marshall sold 6,001 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $31.45, for a total value of $188,731.45. Following the transaction, the insider now owns 12,501 shares of the company’s stock, valued at $393,156.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,605 shares of company stock worth $1,010,805. 4.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SMAR. DA Davidson decreased their target price on Smartsheet from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, September 2nd. Morgan Stanley reduced their price objective on Smartsheet from $62.00 to $54.00 and set an “overweight” rating for the company in a research note on Monday, October 3rd. Truist Financial reduced their price objective on Smartsheet from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, September 2nd. Canaccord Genuity Group reduced their price objective on Smartsheet from $60.00 to $45.00 in a research note on Friday, September 2nd. Finally, William Blair reissued an “outperform” rating on shares of Smartsheet in a research note on Friday, September 23rd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.59.

Smartsheet Stock Down 1.5 %

Shares of SMAR opened at $28.37 on Friday. The company has a market capitalization of $3.67 billion, a PE ratio of -16.30 and a beta of 1.27. Smartsheet Inc has a 52-week low of $25.09 and a 52-week high of $80.89. The stock has a fifty day simple moving average of $33.21 and a two-hundred day simple moving average of $33.98.

Smartsheet (NYSE:SMARGet Rating) last released its quarterly earnings results on Thursday, September 1st. The company reported ($0.46) earnings per share 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 analysts’ expectations 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 was up 41.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.28) EPS. As a group, equities analysts anticipate that Smartsheet Inc will post -2.03 earnings per share for the current fiscal year.

Smartsheet 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

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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