8,525 Shares in Smartsheet Inc (NYSE:SMAR) Bought by Paloma Partners Management Co

Paloma Partners Management Co acquired a new stake in Smartsheet Inc (NYSE:SMAR) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,525 shares of the company’s stock, valued at approximately $328,000.

A number of other institutional investors have also recently bought and sold shares of SMAR. Norges Bank bought a new position in Smartsheet in the 4th quarter valued at $68,879,000. Granahan Investment Management LLC grew its stake in Smartsheet by 908.1% in the 4th quarter. Granahan Investment Management LLC now owns 1,040,724 shares of the company’s stock valued at $49,767,000 after purchasing an additional 937,483 shares during the period. Los Angeles Capital Management LLC grew its stake in Smartsheet by 6,960.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 628,138 shares of the company’s stock valued at $30,038,000 after purchasing an additional 619,242 shares during the period. Coronation Fund Managers Ltd. grew its stake in Smartsheet by 44.2% in the 1st quarter. Coronation Fund Managers Ltd. now owns 1,550,203 shares of the company’s stock valued at $59,683,000 after purchasing an additional 474,898 shares during the period. Finally, Vanguard Group Inc. grew its stake in Smartsheet by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 13,583,818 shares of the company’s stock valued at $649,578,000 after purchasing an additional 276,117 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Smartsheet

In other Smartsheet news, CFO Pete Godbole sold 7,500 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.54, for a total transaction of $326,550.00. Following the completion of the sale, the chief financial officer now owns 36,846 shares of the company’s stock, valued at $1,604,274.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Stephen Robert Branstetter sold 2,004 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $48.00, for a total value of $96,192.00. Following the completion of the transaction, the chief operating officer now owns 61,791 shares of the company’s stock, valued at $2,965,968. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Pete Godbole sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $43.54, for a total value of $326,550.00. Following the completion of the transaction, the chief financial officer now directly owns 36,846 shares of the company’s stock, valued at approximately $1,604,274.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,390 shares of company stock worth $1,484,631. 4.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SMAR has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on Smartsheet from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. Needham & Company LLC reiterated a “buy” rating and set a $57.00 price target on shares of Smartsheet in a research note on Thursday, June 6th. UBS Group raised their target price on Smartsheet from $54.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Royal Bank of Canada raised their price target on Smartsheet from $36.00 to $43.00 and gave the company a “sector perform” rating in a report on Thursday, June 6th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $56.00 price target on shares of Smartsheet in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Smartsheet has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Smartsheet Stock Performance

Shares of NYSE SMAR traded down $0.18 during mid-day trading on Monday, hitting $48.22. 1,023,384 shares of the stock traded hands, compared to its average volume of 1,524,708. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $49.42. The company has a market cap of $6.67 billion, a price-to-earnings ratio of -77.77 and a beta of 0.74. The stock has a fifty day moving average price of $42.98 and a 200-day moving average price of $42.04.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Wednesday, June 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. The business had revenue of $262.98 million during the quarter, compared to analysts’ expectations of $258.06 million. As a group, sell-side analysts predict that Smartsheet Inc will post -0.24 EPS for the current fiscal year.

About Smartsheet

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.