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:SMARGet 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:SMARGet 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

(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.

See Also

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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