Swiss National Bank Boosts Holdings in Smartsheet Inc (NYSE:SMAR)

Swiss National Bank increased its position in Smartsheet Inc (NYSE:SMARFree Report) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,000 shares of the company’s stock after buying an additional 4,900 shares during the period. Swiss National Bank’s holdings in Smartsheet were worth $11,288,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SMAR. Amalgamated Bank grew its stake in Smartsheet by 14.3% in the 3rd quarter. Amalgamated Bank now owns 31,708 shares of the company’s stock worth $1,283,000 after acquiring an additional 3,974 shares during the period. Qsemble Capital Management LP purchased a new stake in shares of Smartsheet in the third quarter valued at $2,274,000. Barclays PLC increased its stake in Smartsheet by 21.5% in the third quarter. Barclays PLC now owns 96,194 shares of the company’s stock valued at $3,891,000 after purchasing an additional 16,993 shares during the last quarter. Arizona State Retirement System lifted its position in Smartsheet by 2.2% during the third quarter. Arizona State Retirement System now owns 36,140 shares of the company’s stock worth $1,462,000 after buying an additional 777 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new stake in Smartsheet in the 3rd quarter worth about $1,021,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.

Wall Street Analyst Weigh In

SMAR has been the subject of a number of research analyst reports. BMO Capital Markets upped their price objective on shares of Smartsheet from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, December 8th. Truist Financial upped their price target on shares of Smartsheet from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Citigroup upgraded shares of Smartsheet from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $63.00 in a report on Thursday, January 11th. Canaccord Genuity Group upped their price objective on Smartsheet from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Finally, KeyCorp lifted their target price on Smartsheet from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, December 8th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.87.

View Our Latest Stock Analysis on SMAR

Insider Buying and Selling

In other Smartsheet 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 value of $180,619.20. Following the completion of the transaction, the chief financial officer now directly owns 47,064 shares of the company’s stock, valued at approximately $2,127,292.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Jolene Lau Marshall sold 2,102 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 14,848 shares in the company, valued at approximately $618,567.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Pete Godbole sold 3,996 shares of the 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 sale, the chief financial officer now directly owns 47,064 shares in the company, valued at $2,127,292.80. The disclosure for this sale can be found here. Insiders have sold 36,885 shares of company stock valued at $1,676,617 in the last quarter. Company insiders own 4.71% of the company’s stock.

Smartsheet Trading Down 2.9 %

Shares of NYSE:SMAR opened at $46.55 on Tuesday. The business’s 50-day simple moving average is $46.35 and its 200 day simple moving average is $42.95. Smartsheet Inc has a one year low of $37.09 and a one year high of $52.81.

Smartsheet (NYSE:SMARGet Free Report) last issued its quarterly earnings data on Thursday, December 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating 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 company earned ($0.30) earnings per share. Smartsheet’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts expect 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.

Further Reading

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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