8,825 Shares in Smartsheet Inc (NYSE:SMAR) Bought by Inceptionr LLC

Inceptionr LLC acquired a new stake in shares of Smartsheet Inc (NYSE:SMAR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,825 shares of the company’s stock, valued at approximately $422,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Smartsheet during the fourth quarter worth about $33,000. Allworth Financial LP grew its stake in Smartsheet by 2,503.4% in the 4th quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after buying an additional 726 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Smartsheet in the 3rd quarter worth $105,000. Vinva Investment Management Ltd bought a new position in Smartsheet in the third quarter valued at $131,000. Finally, M&T Bank Corp purchased a new stake in Smartsheet during the fourth quarter valued at about $204,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Smartsheet Stock Up 1.0 %

Shares of SMAR stock traded up $0.42 during trading hours on Friday, hitting $42.36. 424,686 shares of the company’s stock traded hands, compared to its average volume of 1,491,389. The stock’s fifty day simple moving average is $38.90 and its two-hundred day simple moving average is $42.37. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $52.81. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of -53.09 and a beta of 0.73.

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

Insider Activity at Smartsheet

In related news, COO Stephen Robert Branstetter sold 5,737 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total value of $219,268.14. Following the completion of the transaction, the chief operating officer now directly owns 67,801 shares in the company, valued at approximately $2,591,354.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Stephen Robert Branstetter sold 5,737 shares of the 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 sale, the chief operating officer now directly owns 67,801 shares of the company’s stock, valued at $2,591,354.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Pete Godbole sold 10,129 shares of the stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $38.67, for a total value of $391,688.43. Following the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,714,859.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,568 shares of company stock valued at $914,723. 4.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SMAR has been the subject of a number of research reports. KeyCorp began coverage on Smartsheet in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Canaccord Genuity Group decreased their price target on shares of Smartsheet from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. JPMorgan Chase & Co. lowered their price objective on shares of Smartsheet from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 15th. BMO Capital Markets reduced their target price on shares of Smartsheet from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Finally, Morgan Stanley lowered their price target on shares of Smartsheet from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.75.

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.