Jupiter Asset Management Ltd. Cuts Stock Holdings in Smartsheet Inc (NYSE:SMAR)

Jupiter Asset Management Ltd. cut its holdings in shares of Smartsheet Inc (NYSE:SMARFree Report) by 79.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,686 shares of the company’s stock after selling 44,517 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Smartsheet were worth $473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SMAR. Raymond James & Associates boosted its holdings in shares of Smartsheet by 4.5% in 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. boosted its holdings in Smartsheet by 10.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,949 shares of the company’s stock valued at $928,000 after acquiring an additional 1,567 shares during the last quarter. Citigroup Inc. grew its position in Smartsheet by 7.0% during the first quarter. Citigroup Inc. now owns 25,608 shares of the company’s stock valued at $1,403,000 after acquiring an additional 1,677 shares during the period. PNC Financial Services Group Inc. increased its stake in Smartsheet by 8.1% during the first quarter. PNC Financial Services Group Inc. now owns 10,683 shares of the company’s stock worth $585,000 after acquiring an additional 803 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new position in shares of Smartsheet in the 1st quarter worth about $431,000. 88.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Smartsheet

In related news, insider Jolene Lau Marshall sold 2,102 shares of Smartsheet stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $41.66, for a total transaction of $87,569.32. Following the transaction, the insider now directly owns 14,848 shares of the company’s stock, valued at $618,567.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CRO Michael Arntz sold 7,572 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $44.81, for a total transaction of $339,301.32. Following the completion of the sale, the executive now owns 7,148 shares in the company, valued at approximately $320,301.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jolene Lau Marshall sold 2,102 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $41.66, for a total value of $87,569.32. Following the sale, the insider now directly owns 14,848 shares of the company’s stock, valued at $618,567.68. The disclosure for this sale can be found here. Insiders have sold 37,929 shares of company stock worth $1,721,112 over the last quarter. 4.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SMAR has been the subject of a number of research reports. DA Davidson reiterated a “buy” rating on shares of Smartsheet in a report on Wednesday, December 6th. Citigroup upgraded shares of Smartsheet from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $56.00 to $63.00 in a research note on Thursday, January 11th. BMO Capital Markets lifted their target price on shares of Smartsheet from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, December 8th. KeyCorp increased their price target on Smartsheet from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, December 8th. Finally, Canaccord Genuity Group boosted their price objective on Smartsheet from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, December 8th. Three 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 stock currently has an average rating of “Moderate Buy” and an average target price of $53.87.

Check Out Our Latest Research Report on SMAR

Smartsheet Trading Up 3.4 %

Shares of NYSE SMAR opened at $47.92 on Monday. Smartsheet Inc has a 12-month low of $37.09 and a 12-month high of $52.81. The stock has a 50 day simple moving average of $46.32 and a 200-day simple moving average of $42.92.

Smartsheet (NYSE:SMARGet Free Report) last announced its earnings results on Thursday, December 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.07. Smartsheet had a negative return on equity of 23.90% and a negative net margin of 15.15%. The firm had revenue of $245.90 million for the quarter, compared to the consensus estimate of $241.36 million. During the same quarter in the previous year, the business earned ($0.30) EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that Smartsheet Inc will post -0.84 earnings per share for the current year.

About Smartsheet

(Free Report)

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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