Smartsheet Inc (NYSE:SMAR) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in Smartsheet Inc (NYSE:SMARGet Rating) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 218,865 shares of the company’s stock after selling 9,807 shares during the period. California Public Employees Retirement System’s holdings in Smartsheet were worth $6,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Smartsheet by 44.7% in the 2nd quarter. Principal Financial Group Inc. now owns 17,204 shares of the company’s stock valued at $541,000 after purchasing an additional 5,312 shares during the period. Lazard Asset Management LLC raised its position in Smartsheet by 44.7% during the second quarter. Lazard Asset Management LLC now owns 2,004 shares of the company’s stock worth $62,000 after acquiring an additional 619 shares during the period. Summit Trail Advisors LLC raised its position in Smartsheet by 232.9% during the second quarter. Summit Trail Advisors LLC now owns 42,482 shares of the company’s stock worth $1,335,000 after acquiring an additional 29,719 shares during the period. Duality Advisers LP acquired a new position in Smartsheet during the second quarter worth $2,811,000. Finally, Bank of Nova Scotia raised its position in Smartsheet by 256.2% during the second quarter. Bank of Nova Scotia now owns 781,947 shares of the company’s stock worth $24,577,000 after acquiring an additional 562,421 shares during the period. 90.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SMAR shares. KeyCorp started coverage on shares of Smartsheet in a research report on Thursday, October 13th. They set an “overweight” rating and a $46.00 price objective for the company. Credit Suisse Group started coverage on shares of Smartsheet in a research report on Friday, September 23rd. They set a “neutral” rating and a $40.00 price objective for the company. Truist Financial reduced their price objective on shares of Smartsheet from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, September 2nd. Morgan Stanley dropped their target price on shares of Smartsheet from $62.00 to $54.00 and set an “overweight” rating for the company in a report on Monday, October 3rd. Finally, Moffett Nathanson initiated coverage on shares of Smartsheet in a report on Thursday, September 22nd. They set an “outperform” rating and a $50.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.59.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, insider Megan Hansen sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $38.04, for a total value of $152,160.00. Following the transaction, the insider now owns 4,155 shares of the company’s stock, valued at $158,056.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Smartsheet news, insider Megan Hansen sold 4,000 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $38.04, for a total value of $152,160.00. Following the transaction, the insider now owns 4,155 shares of the company’s stock, valued at $158,056.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elena Gomez sold 6,250 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were 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 disclosure for this sale can be found here. Insiders have sold 29,605 shares of company stock valued at $1,010,805 over the last 90 days. 4.58% of the stock is owned by insiders.

Smartsheet Trading Up 4.8 %

Shares of SMAR opened at $29.07 on Thursday. Smartsheet Inc has a 12-month low of $25.09 and a 12-month high of $80.89. The firm has a 50-day moving average price of $32.59 and a 200 day moving average price of $33.60. The firm has a market capitalization of $3.76 billion, a P/E ratio of -16.71 and a beta of 1.27.

Smartsheet (NYSE:SMARGet Rating) last announced its quarterly earnings data on Thursday, September 1st. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.10. Smartsheet had a negative net margin of 33.88% and a negative return on equity of 42.47%. The firm had revenue of $186.70 million during the quarter, compared to analyst estimates of $180.56 million. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. Smartsheet’s quarterly revenue was up 41.8% on a year-over-year basis. Equities research analysts predict that Smartsheet Inc will post -2.03 earnings per share for the current fiscal year.

Smartsheet Company Profile

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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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