HighTower Advisors LLC Boosts Holdings in Smartsheet Inc (NYSE:SMAR)

HighTower Advisors LLC grew its position in shares of Smartsheet Inc (NYSE:SMAR – Get Rating) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,796 shares of the company’s stock after purchasing an additional 5,629 shares during the period. HighTower Advisors LLC’s holdings in Smartsheet were worth $2,117,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Belpointe Asset Management LLC purchased a new stake in shares of Smartsheet during the fourth quarter valued at approximately $25,000. UMB Bank n.a. bought a new stake in shares of Smartsheet in the fourth quarter worth $32,000. Signaturefd LLC increased its stake in shares of Smartsheet by 57.1% in the third quarter. Signaturefd LLC now owns 1,073 shares of the company’s stock worth $37,000 after buying an additional 390 shares during the last quarter. CWM LLC increased its stake in shares of Smartsheet by 200.6% in the fourth quarter. CWM LLC now owns 1,076 shares of the company’s stock worth $42,000 after buying an additional 718 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Smartsheet by 560.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,824 shares of the company’s stock worth $72,000 after buying an additional 1,548 shares during the last quarter. Hedge funds and other institutional investors own 89.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SMAR shares. Oppenheimer lifted their price target on shares of Smartsheet from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 15th. Royal Bank of Canada boosted their price target on shares of Smartsheet from $36.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 15th. Wells Fargo & Company boosted their price objective on Smartsheet from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, March 15th. DA Davidson boosted their price objective on Smartsheet from $54.00 to $57.00 in a report on Wednesday, March 15th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $40.00 target price on shares of Smartsheet in a report on Wednesday, March 15th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Smartsheet has an average rating of “Moderate Buy” and an average target price of $49.06.

Insiders Place Their Bets

In other Smartsheet news, insider Jolene Lau Marshall sold 4,000 shares of the stock in a transaction on Friday, March 24th. The stock was sold at an average price of $48.04, for a total transaction of $192,160.00. Following the completion of the transaction, the insider now directly owns 5,535 shares in the company, valued at $265,901.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jolene Lau Marshall sold 4,000 shares of the stock in a transaction on Friday, March 24th. The stock was sold at an average price of $48.04, for a total transaction of $192,160.00. Following the sale, the insider now owns 5,535 shares in the company, valued at $265,901.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Michael Arntz sold 10,418 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $47.68, for a total value of $496,730.24. Following the completion of the transaction, the executive now owns 18,483 shares in the company, valued at approximately $881,269.44. The disclosure for this sale can be found here. Insiders sold 23,430 shares of company stock worth $1,115,359 over the last three months. 4.71% of the stock is currently owned by corporate insiders.

Smartsheet Trading Down 2.1 %

Shares of SMAR stock opened at $46.58 on Wednesday. Smartsheet Inc has a 12 month low of $25.09 and a 12 month high of $48.99. The stock has a 50 day moving average of $44.36 and a 200-day moving average of $40.88.

Smartsheet (NYSE:SMAR – Get Rating) last issued its earnings results on Tuesday, March 14th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.06. The business had revenue of $212.34 million during the quarter, compared to analyst estimates of $206.08 million. Smartsheet had a negative return on equity of 43.31% and a negative net margin of 28.12%. As a group, sell-side analysts expect that Smartsheet Inc will post -1.27 EPS 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.