Oppenheimer & Co. Inc. Has $215,000 Stock Holdings in Smartsheet Inc (NYSE:SMAR)

Oppenheimer & Co. Inc. decreased its stake in Smartsheet Inc (NYSE:SMARFree Report) by 85.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,321 shares of the company’s stock after selling 30,449 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Smartsheet were worth $215,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SMAR. Commonwealth Equity Services LLC lifted its stake in shares of Smartsheet by 1.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 46,417 shares of the company’s stock valued at $1,776,000 after acquiring an additional 462 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Smartsheet by 102.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,736 shares of the company’s stock valued at $1,729,000 after purchasing an additional 21,627 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Smartsheet by 55.9% during the second quarter. Citigroup Inc. now owns 48,246 shares of the company’s stock worth $1,846,000 after purchasing an additional 17,291 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in shares of Smartsheet by 6.9% in the second quarter. ArrowMark Colorado Holdings LLC now owns 1,800,327 shares of the company’s stock valued at $68,881,000 after buying an additional 116,914 shares during the period. Finally, Qsemble Capital Management LP bought a new position in Smartsheet in the 3rd quarter valued at approximately $2,274,000. Institutional investors and hedge funds own 88.99% of the company’s stock.

Smartsheet Stock Performance

Shares of SMAR stock opened at $46.55 on Tuesday. Smartsheet Inc has a fifty-two week low of $37.09 and a fifty-two week high of $52.81. The stock has a 50 day simple moving average of $46.35 and a two-hundred day simple moving average of $42.95. The company has a market cap of $6.34 billion, a P/E ratio of -44.33 and a beta of 0.80.

Smartsheet (NYSE:SMARGet Free Report) last announced its quarterly earnings data on Thursday, December 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.09 by $0.07. Smartsheet had a negative net margin of 15.15% and a negative return on equity of 23.90%. The company had revenue of $245.90 million during the quarter, compared to the consensus estimate of $241.36 million. During the same quarter last year, the firm posted ($0.30) EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts predict that Smartsheet Inc will post -0.84 earnings per share for the current year.

Wall Street Analyst Weigh In

SMAR has been the topic of a number of research reports. Citigroup raised shares of Smartsheet from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $56.00 to $63.00 in a report on Thursday, January 11th. Canaccord Genuity Group increased their price objective on Smartsheet from $53.00 to $55.00 and gave the company a “buy” rating in a report on Friday, December 8th. Truist Financial lifted their target price on Smartsheet from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, December 8th. BMO Capital Markets increased their price target on Smartsheet from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, December 8th. Finally, DA Davidson restated a “buy” rating on shares of Smartsheet in a research report on Wednesday, December 6th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Smartsheet presently has a consensus rating of “Moderate Buy” and an average price target of $53.87.

View Our Latest Stock Analysis on Smartsheet

Insider Buying and Selling at Smartsheet

In other news, CFO Pete Godbole sold 3,996 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $45.20, for a total transaction of $180,619.20. Following the transaction, the chief financial officer now owns 47,064 shares in the company, valued at $2,127,292.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO Michael Arntz sold 7,632 shares of Smartsheet stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $45.28, for a total value of $345,576.96. Following the completion of the sale, the executive now owns 18,153 shares of the company’s stock, valued at approximately $821,967.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Pete Godbole sold 3,996 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $45.20, for a total transaction of $180,619.20. Following the transaction, the chief financial officer now owns 47,064 shares in the company, valued at approximately $2,127,292.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,885 shares of company stock valued at $1,676,617. Corporate insiders own 4.71% of the company’s stock.

Smartsheet Company Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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