Public Employees Retirement System of Ohio bought a new stake in shares of Smartsheet Inc (NYSE:SMAR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 75,093 shares of the company’s stock, valued at approximately $3,635,000. Public Employees Retirement System of Ohio owned about 0.07% of Smartsheet at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SMAR. FMR LLC increased its holdings in Smartsheet by 754,292.5% in the 1st quarter. FMR LLC now owns 1,214,572 shares of the company’s stock worth $49,542,000 after acquiring an additional 1,214,411 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Smartsheet in the 2nd quarter worth about $30,294,000. TimesSquare Capital Management LLC purchased a new stake in Smartsheet in the 1st quarter worth about $22,129,000. First Trust Advisors LP increased its holdings in Smartsheet by 497.3% in the 2nd quarter. First Trust Advisors LP now owns 517,203 shares of the company’s stock worth $25,033,000 after acquiring an additional 430,614 shares during the last quarter. Finally, Tiff Advisory Services Inc. purchased a new stake in Smartsheet in the 1st quarter worth about $15,284,000. 80.26% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on SMAR shares. Wedbush reissued an “outperform” rating and issued a $62.00 price objective on shares of Smartsheet in a report on Friday, August 30th. Zacks Investment Research raised Smartsheet from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Wednesday. Stephens reissued a “buy” rating and issued a $55.00 price objective on shares of Smartsheet in a report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on Smartsheet from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective (up previously from $45.00) on shares of Smartsheet in a report on Thursday, July 11th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Smartsheet presently has a consensus rating of “Buy” and a consensus price target of $53.00.

NYSE SMAR traded down $1.27 during trading hours on Friday, hitting $40.13. The company had a trading volume of 2,612,421 shares, compared to its average volume of 2,232,726. Smartsheet Inc has a 52 week low of $20.34 and a 52 week high of $55.79. The firm has a 50 day simple moving average of $48.24 and a 200 day simple moving average of $44.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.63 and a current ratio of 3.50. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -64.73 and a beta of 2.04.

Smartsheet (NYSE:SMAR) last issued its earnings results on Wednesday, September 4th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.09. Smartsheet had a negative return on equity of 24.74% and a negative net margin of 30.10%. The business had revenue of $64.64 million during the quarter, compared to the consensus estimate of $63.55 million. During the same quarter last year, the company earned ($0.08) EPS. The firm’s revenue was up 52.5% compared to the same quarter last year. On average, research analysts forecast that Smartsheet Inc will post -0.92 earnings per share for the current year.

In other Smartsheet news, CFO Jennifer Ceran sold 135,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $38.89, for a total value of $5,250,150.00. Also, CEO Mark Patrick Mader sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $38.44, for a total value of $1,537,600.00. In the last 90 days, insiders sold 5,875,761 shares of company stock valued at $258,072,956. 24.73% of the stock is owned by corporate insiders.

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.

Further Reading: Oversold

Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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