Russell Investments Group Ltd. Buys 5,057 Shares of Smartsheet Inc (NYSE:SMAR)

Russell Investments Group Ltd. boosted its stake in Smartsheet Inc (NYSE:SMAR) by 2.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 215,058 shares of the company’s stock after buying an additional 5,057 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.16% of Smartsheet worth $10,286,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Smartsheet by 256.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 152,522 shares of the company’s stock valued at $7,294,000 after purchasing an additional 109,786 shares during the last quarter. Moody National Bank Trust Division purchased a new stake in Smartsheet in the 4th quarter valued at about $1,755,000. Lecap Asset Management Ltd. bought a new position in shares of Smartsheet during the 4th quarter worth approximately $1,287,000. Keenan Capital LLC boosted its stake in shares of Smartsheet by 3.9% in the 3rd quarter. Keenan Capital LLC now owns 1,200,433 shares of the company’s stock worth $48,570,000 after buying an additional 45,000 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Smartsheet in the third quarter valued at approximately $1,919,000. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SMAR. KeyCorp began coverage on Smartsheet in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Citigroup upgraded shares of Smartsheet from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $63.00 in a research report on Thursday, January 11th. Canaccord Genuity Group lowered their price objective on shares of Smartsheet from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. BMO Capital Markets dropped their target price on shares of Smartsheet from $48.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Finally, UBS Group decreased their price target on shares of Smartsheet from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Smartsheet has an average rating of “Moderate Buy” and an average price target of $49.75.

Smartsheet Trading Up 0.5 %

Shares of NYSE SMAR opened at $38.58 on Monday. The stock has a fifty day moving average of $39.27 and a 200-day moving average of $42.41. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $52.81.

Smartsheet (NYSE:SMAR) last posted its earnings results 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. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. The business had revenue of $256.95 million for the quarter, compared to analysts’ expectations of $254.99 million. As a group, sell-side analysts forecast that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

Insider Activity at Smartsheet

In other Smartsheet news, CFO Pete Godbole sold 10,129 shares of the company’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the transaction, the chief financial officer now directly owns 44,346 shares in the company, valued at approximately $1,714,859.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Smartsheet news, CFO Pete Godbole sold 10,129 shares of Smartsheet stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $38.67, for a total transaction of $391,688.43. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,714,859.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Michael Arntz sold 7,702 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $39.44, for a total transaction of $303,766.88. Following the completion of 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. Over the last quarter, insiders sold 23,568 shares of company stock valued at $914,723. Company insiders own 4.71% of the company’s stock.

Smartsheet Company 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.