Allworth Financial LP Grows Holdings in Smartsheet Inc (NYSE:SMAR)

Allworth Financial LP grew its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 2,503.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 755 shares of the company’s stock after buying an additional 726 shares during the quarter. Allworth Financial LP’s holdings in Smartsheet were worth $36,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Treasurer of the State of North Carolina boosted its stake in shares of Smartsheet by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 55,099 shares of the company’s stock valued at $2,229,000 after buying an additional 280 shares during the last quarter. Delphia USA Inc. lifted its stake in Smartsheet by 4.0% during the first quarter. Delphia USA Inc. now owns 7,260 shares of the company’s stock worth $347,000 after purchasing an additional 281 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Smartsheet by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,396 shares of the company’s stock worth $2,968,000 after purchasing an additional 343 shares during the last quarter. Royal Bank of Canada lifted its stake in Smartsheet by 1.0% during the third quarter. Royal Bank of Canada now owns 37,005 shares of the company’s stock worth $1,272,000 after purchasing an additional 364 shares during the last quarter. Finally, CWM LLC lifted its stake in Smartsheet by 14.7% during the third quarter. CWM LLC now owns 3,044 shares of the company’s stock worth $123,000 after purchasing an additional 390 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Smartsheet Trading Down 2.6 %

Shares of Smartsheet stock opened at $37.67 on Monday. The company’s 50-day moving average price is $41.29 and its two-hundred day moving average price is $42.81. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $52.81. The stock has a market cap of $5.18 billion, a PE ratio of -47.68 and a beta of 0.73.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.17. The firm had revenue of $256.95 million for the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. On average, equities analysts predict that Smartsheet Inc will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Smartsheet news, CRO Michael Arntz sold 7,702 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $39.44, for a total transaction of $303,766.88. Following the sale, the executive now owns 12,718 shares in the company, valued at approximately $501,597.92. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Smartsheet news, insider Jolene Lau Marshall sold 2,247 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $45.03, for a total transaction of $101,182.41. Following the sale, the insider now owns 12,129 shares in the company, valued at approximately $546,168.87. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the transaction, the executive now directly owns 12,718 shares in the company, valued at approximately $501,597.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,258 shares of company stock worth $963,519. Company insiders own 4.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SMAR. BMO Capital Markets reduced their price objective on Smartsheet from $48.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Citigroup upgraded Smartsheet from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $63.00 in a research note on Thursday, January 11th. Barclays reduced their price objective on Smartsheet from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, March 15th. Jefferies Financial Group reduced their price target on shares of Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 15th. Finally, Royal Bank of Canada reduced their price target on shares of Smartsheet from $48.00 to $36.00 and set a “sector perform” rating for the company in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Smartsheet has an average rating of “Moderate Buy” and a consensus target price of $49.75.

Smartsheet Profile

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.