Capital International Inc. CA Sells 1,595 Shares of Smartsheet Inc (NYSE:SMAR)

Capital International Inc. CA reduced its stake in Smartsheet Inc (NYSE:SMAR) by 3.8% during the first quarter, HoldingsChannel reports. The fund owned 40,498 shares of the company’s stock after selling 1,595 shares during the period. Capital International Inc. CA’s holdings in Smartsheet were worth $1,559,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Smartsheet during the 4th quarter valued at about $68,879,000. Granahan Investment Management LLC grew its holdings in shares of Smartsheet by 908.1% during the fourth quarter. Granahan Investment Management LLC now owns 1,040,724 shares of the company’s stock valued at $49,767,000 after buying an additional 937,483 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Smartsheet by 6,960.9% during the fourth quarter. Los Angeles Capital Management LLC now owns 628,138 shares of the company’s stock valued at $30,038,000 after acquiring an additional 619,242 shares in the last quarter. Coronation Fund Managers Ltd. raised its holdings in Smartsheet by 44.2% in the 1st quarter. Coronation Fund Managers Ltd. now owns 1,550,203 shares of the company’s stock worth $59,683,000 after acquiring an additional 474,898 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Smartsheet by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 13,583,818 shares of the company’s stock valued at $649,578,000 after purchasing an additional 276,117 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Smartsheet Trading Up 2.7 %

Shares of NYSE:SMAR traded up $1.27 during mid-day trading on Friday, reaching $48.40. The stock had a trading volume of 1,346,295 shares, compared to its average volume of 1,277,224. The business’s 50 day moving average price is $42.86 and its 200 day moving average price is $42.12. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $49.42. The company has a market cap of $6.70 billion, a P/E ratio of -78.06 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings data on Wednesday, June 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. The business had revenue of $262.98 million for the quarter, compared to analysts’ expectations of $258.06 million. Analysts predict that Smartsheet Inc will post -0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SMAR has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on Smartsheet from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. BMO Capital Markets raised their price target on Smartsheet from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, June 6th. Barclays upped their price objective on Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th. Wells Fargo & Company boosted their price target on Smartsheet from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, June 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $57.00 price objective on shares of Smartsheet in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $52.00.

Insider Buying and Selling at Smartsheet

In related news, insider Jolene Lau Marshall sold 3,994 shares of Smartsheet stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $43.11, for a total value of $172,181.34. Following the completion of the transaction, the insider now owns 16,567 shares in the company, valued at $714,203.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Pete Godbole sold 7,244 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $41.22, for a total value of $298,597.68. Following the sale, the chief financial officer now directly owns 30,786 shares of the company’s stock, valued at approximately $1,268,998.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jolene Lau Marshall sold 3,994 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $43.11, for a total value of $172,181.34. Following the transaction, the insider now directly owns 16,567 shares in the company, valued at approximately $714,203.37. The disclosure for this sale can be found here. Insiders sold 34,390 shares of company stock worth $1,484,631 over the last 90 days. 4.52% of the stock is owned by insiders.

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.