AtonRa Partners Cuts Stake in Smartsheet Inc (NYSE:SMAR)

AtonRa Partners cut its stake in Smartsheet Inc (NYSE:SMAR) by 13.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,332 shares of the company’s stock after selling 831 shares during the quarter. AtonRa Partners’ holdings in Smartsheet were worth $255,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Smartsheet by 256.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 152,522 shares of the company’s stock valued at $7,294,000 after buying an additional 109,786 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in Smartsheet in the 4th quarter valued at about $1,755,000. Lecap Asset Management Ltd. acquired a new stake in Smartsheet in the 4th quarter valued at about $1,287,000. Keenan Capital LLC lifted its stake in Smartsheet by 3.9% in the 3rd quarter. Keenan Capital LLC now owns 1,200,433 shares of the company’s stock worth $48,570,000 after purchasing an additional 45,000 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of Smartsheet during the 3rd quarter worth approximately $1,919,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Jolene Lau Marshall sold 2,247 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $45.03, for a total transaction of $101,182.41. Following the sale, the insider now owns 12,129 shares of the company’s stock, valued at $546,168.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jolene Lau Marshall sold 2,247 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $45.03, for a total transaction of $101,182.41. Following the sale, the insider now directly owns 12,129 shares in the company, valued at $546,168.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Pete Godbole sold 10,129 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total transaction of $391,688.43. Following the transaction, the chief financial officer now owns 44,346 shares of the company’s stock, valued at approximately $1,714,859.82. 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 in the last ninety days. Company insiders own 4.71% of the company’s stock.

Smartsheet Price Performance

Shares of SMAR stock traded up $0.32 on Tuesday, hitting $38.66. The stock had a trading volume of 288,924 shares, compared to its average volume of 1,522,878. The company’s 50 day moving average price is $39.59 and its 200-day moving average price is $42.54. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $52.81.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SMAR shares. Barclays cut their price target on Smartsheet from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, March 15th. UBS Group cut their target price on Smartsheet from $60.00 to $54.00 and set a “buy” 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 upped their price objective for the company from $56.00 to $63.00 in a report on Thursday, January 11th. Oppenheimer reduced their target price on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Finally, Morgan Stanley decreased their target price on shares of Smartsheet from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.75.

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.