Covestor Ltd Has $112,000 Stock Holdings in Smartsheet Inc (NYSE:SMAR)

Covestor Ltd raised its position in Smartsheet Inc (NYSE:SMAR) by 37.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,899 shares of the company’s stock after acquiring an additional 790 shares during the period. Covestor Ltd’s holdings in Smartsheet were worth $112,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Smartsheet during the 4th quarter valued at about $68,879,000. Granahan Investment Management LLC boosted its holdings in 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 purchasing an additional 937,483 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Smartsheet by 6,960.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 628,138 shares of the company’s stock valued at $30,038,000 after purchasing an additional 619,242 shares during the period. Coronation Fund Managers Ltd. raised its holdings in shares of 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 buying an additional 474,898 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Smartsheet by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 13,583,818 shares of the company’s stock worth $649,578,000 after buying an additional 276,117 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group upped their price target on Smartsheet from $54.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Wells Fargo & Company increased their target price on shares of Smartsheet from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, June 6th. Canaccord Genuity Group boosted their price target on shares of Smartsheet from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Morgan Stanley increased their price target on Smartsheet from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, June 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price target on shares of Smartsheet in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Smartsheet has an average rating of “Moderate Buy” and an average target price of $52.00.

Smartsheet Trading Down 0.1 %

Shares of NYSE:SMAR traded down $0.03 during trading on Tuesday, hitting $48.52. 1,026,879 shares of the company’s stock were exchanged, compared to its average volume of 1,530,001. The firm has a market cap of $6.71 billion, a P/E ratio of -78.93 and a beta of 0.74. The firm has a 50-day moving average price of $42.36 and a two-hundred day moving average price of $42.00. Smartsheet Inc has a 1-year low of $35.52 and a 1-year 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, topping analysts’ consensus estimates of ($0.11) by $0.06. The firm had revenue of $262.98 million during the quarter, compared to analyst estimates of $258.06 million. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. As a group, research analysts predict that Smartsheet Inc will post -0.24 EPS for the current year.

Insider Buying and Selling

In other Smartsheet news, 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 transaction of $96,192.00. Following the transaction, the chief operating officer now owns 61,791 shares in the company, valued at $2,965,968. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Smartsheet news, COO Stephen Robert Branstetter sold 2,004 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were 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 owns 61,791 shares of the company’s stock, valued at $2,965,968. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jolene Lau Marshall sold 3,994 shares of Smartsheet stock in a transaction on Friday, July 5th. The stock was sold at an average price of $43.11, for a total transaction of $172,181.34. Following the transaction, the insider now directly owns 16,567 shares in the company, valued at $714,203.37. The disclosure for this sale can be found here. Insiders sold a total of 34,390 shares of company stock valued at $1,484,631 over the last three months. Company insiders own 4.52% of the company’s stock.

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.