Washington Harbour Partners LP Has $3.58 Million Position in Smartsheet Inc (NYSE:SMAR)

Washington Harbour Partners LP grew its position in Smartsheet Inc (NYSE:SMAR) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,034 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Smartsheet makes up about 5.8% of Washington Harbour Partners LP’s portfolio, making the stock its 8th largest position. Washington Harbour Partners LP owned 0.07% of Smartsheet worth $3,582,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SMAR. Assenagon Asset Management S.A. boosted its position in shares of Smartsheet by 66.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 64,730 shares of the company’s stock valued at $3,095,000 after purchasing an additional 25,940 shares in the last quarter. Vanderbilt University acquired a new stake in shares of Smartsheet during the 4th quarter worth approximately $1,869,000. International Assets Investment Management LLC increased its stake in shares of Smartsheet by 4,386.0% in the 4th quarter. International Assets Investment Management LLC now owns 27,544 shares of the company’s stock valued at $1,317,000 after acquiring an additional 26,930 shares in the last quarter. Allworth Financial LP lifted its position in shares of Smartsheet by 2,503.4% during the 4th quarter. Allworth Financial LP now owns 755 shares of the company’s stock valued at $36,000 after acquiring an additional 726 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Smartsheet by 256.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 152,522 shares of the company’s stock worth $7,294,000 after acquiring an additional 109,786 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SMAR shares. Barclays increased their price target on shares of Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th. Canaccord Genuity Group raised their target price on Smartsheet from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Guggenheim reiterated a “buy” rating and set a $56.00 price target on shares of Smartsheet in a research note on Tuesday, June 25th. Morgan Stanley upped their price objective on shares of Smartsheet from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. Finally, Royal Bank of Canada lifted their target price on shares of Smartsheet from $36.00 to $43.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Insider Buying and Selling

In other Smartsheet news, CFO Pete Godbole sold 7,244 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $41.22, for a total transaction of $298,597.68. Following the completion of the sale, the chief financial officer now directly owns 30,786 shares in the company, valued at $1,268,998.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Smartsheet news, CFO Pete Godbole sold 7,244 shares of the firm’s stock in a transaction on 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 owns 30,786 shares of the company’s stock, valued at approximately $1,268,998.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stephen Robert Branstetter sold 2,004 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $48.00, for a total value of $96,192.00. Following the completion of the sale, the chief operating officer now directly owns 61,791 shares in the company, valued at $2,965,968. The disclosure for this sale can be found here. Insiders have sold a total of 34,390 shares of company stock worth $1,484,631 in the last 90 days. 4.52% of the stock is owned by company insiders.

Smartsheet Trading Down 1.6 %

Shares of NYSE:SMAR traded down $0.79 during trading on Thursday, reaching $47.17. The company had a trading volume of 741,837 shares, compared to its average volume of 1,510,397. The company has a fifty day moving average of $43.35 and a two-hundred day moving average of $42.11. The stock has a market capitalization of $6.53 billion, a P/E ratio of -76.08 and a beta of 0.74. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $49.42.

Smartsheet (NYSE:SMAR) last released its earnings results on Wednesday, June 5th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates 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. As a group, equities research analysts predict that Smartsheet Inc will post -0.24 earnings per share for the current year.

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.