173,330 Shares in Smartsheet Inc (NYSE:SMAR) Purchased by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. purchased a new position in shares of Smartsheet Inc (NYSE:SMAR) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 173,330 shares of the company’s stock, valued at approximately $8,289,000. Smartsheet accounts for 1.3% of Stanley Laman Group Ltd.’s holdings, making the stock its 14th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in Smartsheet during the fourth quarter worth about $33,000. Allworth Financial LP boosted its holdings in shares of Smartsheet by 2,503.4% during the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after acquiring an additional 726 shares during the period. Castleview Partners LLC bought a new stake in shares of Smartsheet during the third quarter worth approximately $39,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Smartsheet during the third quarter worth approximately $105,000. Finally, CWM LLC boosted its holdings in shares of Smartsheet by 14.7% during the third quarter. CWM LLC now owns 3,044 shares of the company’s stock worth $123,000 after acquiring an additional 390 shares during the period. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SMAR has been the subject of a number of research analyst reports. Bank of America initiated coverage on Smartsheet in a report on Monday, February 26th. They set an “underperform” rating and a $45.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Smartsheet from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Jefferies Financial Group reduced their price objective on Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 15th. Oppenheimer reduced their price objective on Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Finally, 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 research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.75.

Insider Transactions at Smartsheet

In other news, CRO Michael Arntz sold 7,572 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $44.81, for a total transaction of $339,301.32. Following the completion of the transaction, the executive now directly owns 7,148 shares in the company, valued at $320,301.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Smartsheet news, CRO Michael Arntz sold 7,572 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $44.81, for a total transaction of $339,301.32. Following the sale, the executive now owns 7,148 shares of the company’s stock, valued at $320,301.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jolene Lau Marshall sold 2,247 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $45.03, for a total transaction of $101,182.41. Following the transaction, the insider now owns 12,129 shares in the company, valued at approximately $546,168.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,387 shares of company stock worth $1,355,207. Corporate insiders own 4.71% of the company’s stock.

Smartsheet Price Performance

SMAR traded down $0.28 during trading on Thursday, hitting $38.08. 866,929 shares of the stock traded hands, compared to its average volume of 1,551,105. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $52.81. The company has a market cap of $5.23 billion, a price-to-earnings ratio of -48.20 and a beta of 0.73. The business has a 50 day moving average price of $39.80 and a 200 day moving average price of $42.60.

Smartsheet (NYSE:SMAR) last announced its quarterly 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. The company had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. On average, equities research analysts predict that Smartsheet Inc will post -0.43 earnings per share for the current year.

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.