Great West Life Assurance Co. Can Acquires Shares of 160,334 Smartsheet Inc (NYSE:SMAR)

Great West Life Assurance Co. Can acquired a new stake in shares of Smartsheet Inc (NYSE:SMAR – Get Rating) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 160,334 shares of the company’s stock, valued at approximately $5,516,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SMAR. Raymond James & Associates boosted its holdings in shares of Smartsheet by 4.5% during the 1st quarter. Raymond James & Associates now owns 19,514 shares of the company’s stock valued at $1,069,000 after purchasing an additional 845 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Smartsheet by 10.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,949 shares of the company’s stock valued at $928,000 after buying an additional 1,567 shares in the last quarter. Citigroup Inc. raised its position in shares of Smartsheet by 7.0% during the 1st quarter. Citigroup Inc. now owns 25,608 shares of the company’s stock valued at $1,403,000 after buying an additional 1,677 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Smartsheet by 8.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,683 shares of the company’s stock valued at $585,000 after buying an additional 803 shares in the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in shares of Smartsheet during the 1st quarter valued at about $431,000. Institutional investors own 89.50% of the company’s stock.

Analyst Ratings Changes

SMAR has been the topic of several recent research reports. KeyCorp initiated coverage on shares of Smartsheet in a research report on Thursday, October 13th. They set an “overweight” rating and a $46.00 target price on the stock. Barclays started coverage on shares of Smartsheet in a research report on Thursday, December 15th. They set an “equal weight” rating and a $45.00 target price on the stock. BMO Capital Markets increased their price objective on shares of Smartsheet from $38.00 to $41.00 in a research report on Friday, December 2nd. Morgan Stanley increased their price objective on shares of Smartsheet from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, December 2nd. Finally, Royal Bank of Canada increased their price objective on shares of Smartsheet from $32.00 to $36.00 in a research report on Friday, December 2nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.17.

Insider Activity

In other Smartsheet news, insider Jolene Lau Marshall sold 6,001 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $31.45, for a total value of $188,731.45. Following the completion of the sale, the insider now directly owns 12,501 shares in the company, valued at $393,156.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Smartsheet news, CFO Pete Godbole sold 2,256 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $41.36, for a total value of $93,308.16. Following the completion of the sale, the chief financial officer now directly owns 18,229 shares in the company, valued at $753,951.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jolene Lau Marshall sold 6,001 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $31.45, for a total transaction of $188,731.45. Following the completion of the sale, 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. Over the last ninety days, insiders have sold 15,623 shares of company stock worth $523,937. Corporate insiders own 4.58% of the company’s stock.

Smartsheet Stock Performance

Shares of SMAR stock opened at $42.69 on Friday. The company’s 50-day simple moving average is $36.66 and its two-hundred day simple moving average is $34.61. Smartsheet Inc has a one year low of $25.09 and a one year high of $66.74.

Smartsheet (NYSE:SMAR – Get Rating) last released its quarterly earnings data on Thursday, December 1st. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.21. Smartsheet had a negative net margin of 31.75% and a negative return on equity of 45.17%. The firm had revenue of $199.58 million for the quarter, compared to the consensus estimate of $193.66 million. On average, analysts anticipate that Smartsheet Inc will post -1.66 EPS for the current fiscal year.

Smartsheet 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.