Capital Performance Advisors LLP Makes New $152,000 Investment in Smartsheet Inc (NYSE:SMAR)

Capital Performance Advisors LLP purchased a new stake in shares of Smartsheet Inc (NYSE:SMAR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,742 shares of the company’s stock, valued at approximately $152,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Smartsheet by 1.7% in the first quarter. Vanguard Group Inc. now owns 13,809,208 shares of the company’s stock valued at $531,655,000 after buying an additional 225,390 shares during the last quarter. Eminence Capital LP raised its position in shares of Smartsheet by 9.2% in the 2nd quarter. Eminence Capital LP now owns 4,251,328 shares of the company’s stock valued at $187,399,000 after purchasing an additional 358,988 shares during the last quarter. RGM Capital LLC boosted its stake in Smartsheet by 7.6% in the 2nd quarter. RGM Capital LLC now owns 2,223,763 shares of the company’s stock worth $98,023,000 after purchasing an additional 156,817 shares in the last quarter. Marshall Wace LLP grew its position in Smartsheet by 40.9% during the 2nd quarter. Marshall Wace LLP now owns 1,835,994 shares of the company’s stock worth $80,931,000 after purchasing an additional 533,278 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Smartsheet by 188.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,349,639 shares of the company’s stock valued at $58,844,000 after purchasing an additional 881,004 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SMAR has been the subject of several research reports. Needham & Company LLC reiterated a “hold” rating and set a $57.00 price objective on shares of Smartsheet in a research note on Tuesday, September 24th. DA Davidson reaffirmed a “neutral” rating and set a $56.50 price target (up previously from $55.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $56.50 price objective on shares of Smartsheet in a report on Thursday, October 24th. Wolfe Research reaffirmed a “peer perform” rating on shares of Smartsheet in a report on Wednesday, September 25th. Finally, UBS Group reiterated a “neutral” rating and issued a $56.50 price target (down previously from $61.00) on shares of Smartsheet in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Smartsheet currently has a consensus rating of “Hold” and a consensus price target of $55.82.

Insider Transactions at Smartsheet

In related news, CEO Mark Patrick Mader sold 5,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $56.05, for a total transaction of $280,250.00. Following the transaction, the chief executive officer now directly owns 578,762 shares in the company, valued at approximately $32,439,610.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Stephen Robert Branstetter sold 1,847 shares of Smartsheet stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $53.00, for a total transaction of $97,891.00. Following the sale, the chief operating officer now owns 64,215 shares of the company’s stock, valued at approximately $3,403,395. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $56.05, for a total value of $280,250.00. Following the completion of the transaction, the chief executive officer now owns 578,762 shares of the company’s stock, valued at $32,439,610.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,730 shares of company stock valued at $2,249,116 over the last 90 days. 4.52% of the stock is currently owned by corporate insiders.

Smartsheet Stock Up 0.1 %

Shares of SMAR traded up $0.07 during mid-day trading on Friday, hitting $56.03. 336,063 shares of the company were exchanged, compared to its average volume of 2,172,856. Smartsheet Inc has a 1-year low of $35.52 and a 1-year high of $56.55. The company has a 50 day moving average of $53.95 and a 200-day moving average of $47.04.

Smartsheet (NYSE:SMAR) last released its earnings results on Thursday, September 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.15. Smartsheet had a negative return on equity of 4.29% and a negative net margin of 4.07%. The business had revenue of $276.41 million for the quarter, compared to the consensus estimate of $274.23 million. During the same quarter last year, the business posted ($0.23) earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. Sell-side analysts expect that Smartsheet Inc will post -0.05 earnings per share for the current fiscal year.

Smartsheet announced that its Board of Directors has initiated a share repurchase program on Thursday, September 5th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Smartsheet 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.