108,000 Shares in Smartsheet Inc (NYSE:SMAR) Acquired by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd acquired a new position in Smartsheet Inc (NYSE:SMAR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 108,000 shares of the company’s stock, valued at approximately $7,811,000. Melqart Asset Management UK Ltd owned about 0.09% of Smartsheet at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Asset Management One Co. Ltd. bought a new position in shares of Smartsheet in the second quarter worth approximately $28,000. O Shaughnessy Asset Management LLC bought a new position in shares of Smartsheet in the second quarter worth approximately $37,000. Advisory Services Network LLC bought a new position in shares of Smartsheet in the second quarter worth approximately $48,000. Capital Analysts LLC bought a new position in shares of Smartsheet in the second quarter worth approximately $71,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Smartsheet in the second quarter worth approximately $80,000. Institutional investors own 87.47% of the company’s stock.

In other news, insider Eugene Farrell sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $72.07, for a total transaction of $720,700.00. Following the completion of the transaction, the insider now directly owns 37,777 shares in the company, valued at $2,722,588.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Anna Griffin sold 663 shares of the firm’s stock in a transaction on Thursday, October 7th. The shares were sold at an average price of $68.00, for a total value of $45,084.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 272,346 shares of company stock valued at $19,880,093. 6.07% of the stock is owned by corporate insiders.

SMAR has been the subject of several research reports. Truist upped their target price on Smartsheet from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, September 8th. Truist Securities upped their target price on Smartsheet from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, September 8th. Royal Bank of Canada upped their target price on Smartsheet from $65.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 8th. Wells Fargo & Company upped their target price on Smartsheet from $70.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 8th. Finally, Needham & Company LLC upped their target price on Smartsheet from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, September 8th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $85.76.

SMAR stock traded down $0.19 on Wednesday, reaching $71.00. The company’s stock had a trading volume of 4,596 shares, compared to its average volume of 1,131,552. The company has a fifty day moving average price of $72.47. Smartsheet Inc has a 12-month low of $48.62 and a 12-month high of $85.65. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of -62.45 and a beta of 1.41.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings results on Monday, September 6th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The company had revenue of $131.74 million during the quarter, compared to analyst estimates of $125.47 million. Smartsheet had a negative return on equity of 24.57% and a negative net margin of 31.00%. The firm’s revenue was up 44.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) earnings per share. On average, equities research analysts expect that Smartsheet Inc will post -1.35 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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