Duality Advisers LP Reduces Stock Position in Smartsheet Inc (NYSE:SMAR)

Duality Advisers LP lessened its holdings in Smartsheet Inc (NYSE:SMAR) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,103 shares of the company’s stock after selling 998 shares during the quarter. Duality Advisers LP’s holdings in Smartsheet were worth $866,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Smartsheet by 256.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 152,522 shares of the company’s stock valued at $7,294,000 after buying an additional 109,786 shares during the last quarter. Moody National Bank Trust Division purchased a new position in Smartsheet in the fourth quarter valued at $1,755,000. Lecap Asset Management Ltd. purchased a new position in Smartsheet in the fourth quarter valued at $1,287,000. Keenan Capital LLC increased its holdings in Smartsheet by 3.9% in the third quarter. Keenan Capital LLC now owns 1,200,433 shares of the company’s stock valued at $48,570,000 after buying an additional 45,000 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new position in Smartsheet in the third quarter valued at $1,919,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Smartsheet

In related news, insider Jolene Lau Marshall sold 2,247 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $45.03, for a total value of $101,182.41. Following the completion of the sale, the insider now owns 12,129 shares in the company, valued at $546,168.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CRO Michael Arntz sold 7,572 shares of Smartsheet stock in a transaction that occurred 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 sale, the executive now directly owns 7,148 shares in the company, valued at approximately $320,301.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jolene Lau Marshall sold 2,247 shares of Smartsheet stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $45.03, for a total transaction of $101,182.41. Following the sale, the insider now owns 12,129 shares of the company’s stock, valued at $546,168.87. The disclosure for this sale can be found here. Insiders sold a total of 33,387 shares of company stock worth $1,355,207 over the last 90 days. Company insiders own 4.71% of the company’s stock.

Smartsheet Stock Performance

Shares of NYSE:SMAR opened at $38.36 on Thursday. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $52.81. The company has a 50-day moving average price of $39.95 and a 200 day moving average price of $42.63.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.17. The firm 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, research analysts forecast that Smartsheet Inc will post -0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

SMAR has been the topic of several research reports. Oppenheimer dropped their price objective on Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price objective on shares of Smartsheet in a report on Friday, March 15th. Citigroup raised Smartsheet from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $63.00 in a report on Thursday, January 11th. Canaccord Genuity Group dropped their price objective on Smartsheet from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Finally, DA Davidson dropped their price objective on Smartsheet from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.75.

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.