Avior Wealth Management LLC Acquires 441 Shares of Smartsheet Inc (NYSE:SMAR)

Avior Wealth Management LLC lifted its holdings in Smartsheet Inc (NYSE:SMAR) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,928 shares of the company’s stock after acquiring an additional 441 shares during the period. Avior Wealth Management LLC’s holdings in Smartsheet were worth $379,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SMAR. Capital World Investors lifted its holdings in shares of Smartsheet by 11.2% in the 1st quarter. Capital World Investors now owns 15,316,599 shares of the company’s stock valued at $839,084,000 after acquiring an additional 1,542,891 shares during the last quarter. Norges Bank bought a new stake in Smartsheet in the fourth quarter worth about $52,292,000. Goldman Sachs Group Inc. lifted its stake in Smartsheet by 81.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,808,651 shares of the company’s stock worth $88,276,000 after purchasing an additional 1,262,177 shares during the last quarter. RGM Capital LLC bought a new stake in Smartsheet in the third quarter worth about $50,705,000. Finally, Eminence Capital LP lifted its stake in Smartsheet by 58.3% in the third quarter. Eminence Capital LP now owns 3,329,155 shares of the company’s stock worth $134,698,000 after purchasing an additional 1,226,189 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Smartsheet

In other Smartsheet news, CFO Pete Godbole sold 10,129 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,714,859.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Smartsheet news, CFO Pete Godbole sold 10,129 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,714,859.82. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CRO Michael Arntz sold 7,572 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $44.81, for a total transaction of $339,301.32. Following the completion of the sale, the executive now owns 7,148 shares of the company’s stock, valued at $320,301.88. The disclosure for this sale can be found here. Insiders have sold a total of 33,387 shares of company stock valued at $1,355,207 over the last ninety days. 4.71% of the stock is owned by company insiders.

Smartsheet Price Performance

Shares of SMAR stock opened at $37.42 on Friday. The company’s 50 day moving average is $40.62 and its 200 day moving average is $42.69. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $52.81.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.17. The company had revenue of $256.95 million for the quarter, compared to analyst estimates of $254.99 million. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. Sell-side analysts expect that Smartsheet Inc will post -0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SMAR shares. Morgan Stanley decreased their price objective on shares of Smartsheet from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Citigroup raised shares of Smartsheet from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $63.00 in a research note on Thursday, January 11th. BMO Capital Markets decreased their price objective on shares of Smartsheet from $48.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Barclays decreased their price objective on shares of Smartsheet from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, March 15th. Finally, Wells Fargo & Company reduced their target price on shares of Smartsheet from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.75.

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.