California Public Employees Retirement System Has $10.71 Million Stock Position in Smartsheet Inc (NYSE:SMAR)

California Public Employees Retirement System decreased its position in shares of Smartsheet Inc (NYSE:SMAR) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,866 shares of the company’s stock after selling 6,901 shares during the quarter. California Public Employees Retirement System owned 0.16% of Smartsheet worth $10,705,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. CWM LLC increased its stake in Smartsheet by 40.8% in the fourth quarter. CWM LLC now owns 4,287 shares of the company’s stock valued at $205,000 after acquiring an additional 1,243 shares during the last quarter. Institute for Wealth Management LLC. acquired a new position in shares of Smartsheet during the 4th quarter worth $210,000. Federated Hermes Inc. lifted its position in shares of Smartsheet by 15.4% during the 4th quarter. Federated Hermes Inc. now owns 927,000 shares of the company’s stock worth $44,329,000 after buying an additional 123,429 shares during the last quarter. Prosperity Wealth Management Inc. acquired a new stake in Smartsheet in the fourth quarter valued at about $366,000. Finally, Avior Wealth Management LLC grew its position in Smartsheet by 5.9% in the fourth quarter. Avior Wealth Management LLC now owns 7,928 shares of the company’s stock valued at $379,000 after acquiring an additional 441 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Smartsheet Price Performance

NYSE SMAR opened at $38.50 on Thursday. Smartsheet Inc has a one year low of $35.52 and a one year high of $52.81. The business has a 50 day simple moving average of $39.42 and a 200 day simple moving average of $42.48. The stock has a market capitalization of $5.29 billion, a P/E ratio of -48.73 and a beta of 0.73.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SMAR shares. Oppenheimer reduced their price target on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Wells Fargo & Company dropped their price target on Smartsheet from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. DA Davidson reduced their price objective on Smartsheet from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. UBS Group cut their price target on Smartsheet from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, BMO Capital Markets lowered their price objective on Smartsheet from $48.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.75.

Insider Transactions at Smartsheet

In related 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 value of $303,766.88. Following the completion of the sale, the executive now directly owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the completion of the sale, the executive now owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Stephen Robert Branstetter sold 5,737 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $38.22, for a total transaction of $219,268.14. Following the transaction, the chief operating officer now owns 67,801 shares in the company, valued at approximately $2,591,354.22. The disclosure for this sale can be found here. Insiders have sold 23,568 shares of company stock valued at $914,723 in the last 90 days. 4.71% of the stock is currently owned by corporate insiders.

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.