Envestnet Asset Management Inc. Has $888,000 Holdings in Smartsheet Inc (NYSE:SMAR)

Envestnet Asset Management Inc. raised its stake in Smartsheet Inc (NYSE:SMAR) by 70.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,898 shares of the company’s stock after acquiring an additional 5,766 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Smartsheet were worth $888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in shares of Smartsheet by 155.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 76,155 shares of the company’s stock valued at $5,278,000 after purchasing an additional 46,287 shares during the last quarter. Motley Fool Asset Management LLC boosted its stake in shares of Smartsheet by 22.0% in the 4th quarter. Motley Fool Asset Management LLC now owns 70,599 shares of the company’s stock valued at $4,892,000 after purchasing an additional 12,750 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Smartsheet by 10.2% in the 4th quarter. Citigroup Inc. now owns 21,353 shares of the company’s stock valued at $1,479,000 after purchasing an additional 1,970 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Smartsheet by 1,838.8% in the 4th quarter. LPL Financial LLC now owns 258,494 shares of the company’s stock valued at $17,911,000 after purchasing an additional 245,161 shares during the last quarter. Finally, Fulcrum Capital LLC bought a new position in shares of Smartsheet in the 4th quarter valued at about $353,000. Hedge funds and other institutional investors own 87.24% of the company’s stock.

NYSE SMAR opened at $63.99 on Friday. Smartsheet Inc has a 12-month low of $40.21 and a 12-month high of $85.43. The firm has a market capitalization of $7.94 billion, a P/E ratio of -68.07 and a beta of 1.40. The firm has a 50 day simple moving average of $60.20.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Tuesday, June 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.05. Smartsheet had a negative net margin of 29.83% and a negative return on equity of 21.58%. The company had revenue of $117.08 million for the quarter, compared to the consensus estimate of $114.76 million. During the same period last year, the company earned ($0.11) earnings per share. The firm’s revenue was up 37.0% compared to the same quarter last year. Analysts anticipate that Smartsheet Inc will post -1.43 EPS for the current year.

In related news, CEO Mark Patrick Mader sold 20,144 shares of the business’s stock in a transaction on Tuesday, May 18th. The shares were sold at an average price of $54.26, for a total transaction of $1,093,013.44. Following the transaction, the chief executive officer now directly owns 399,331 shares in the company, valued at $21,667,700.06. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Eugene Farrell sold 16,000 shares of the business’s stock in a transaction on Thursday, March 25th. The stock was sold at an average price of $62.02, for a total transaction of $992,320.00. Following the transaction, the insider now owns 41,661 shares in the company, valued at $2,583,815.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 216,394 shares of company stock worth $13,617,501. 6.07% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on SMAR shares. JPMorgan Chase & Co. raised shares of Smartsheet from a “neutral” rating to an “overweight” rating and set a $83.00 target price on the stock in a research note on Tuesday, March 23rd. Wells Fargo & Company reduced their price objective on shares of Smartsheet from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 3rd. Zacks Investment Research raised shares of Smartsheet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 19th. Jefferies Financial Group lifted their price objective on shares of Smartsheet from $60.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, June 3rd. Finally, KeyCorp lifted their price objective on shares of Smartsheet from $82.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 17th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $76.75.

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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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