Thompson Siegel & Walmsley LLC Takes Position in Smartsheet Inc (NYSE:SMAR)

Thompson Siegel & Walmsley LLC purchased a new stake in Smartsheet Inc (NYSE:SMAR) in the fourth quarter, HoldingsChannel reports. The firm purchased 11,000 shares of the company’s stock, valued at approximately $526,000.

A number of other hedge funds have also made changes to their positions in SMAR. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Smartsheet during the fourth quarter valued at $33,000. Allworth Financial LP boosted its stake in shares of Smartsheet by 2,503.4% during the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock valued at $36,000 after acquiring an additional 726 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Smartsheet during the third quarter valued at $105,000. Vinva Investment Management Ltd acquired a new stake in shares of Smartsheet during the third quarter valued at $131,000. Finally, M&T Bank Corp acquired a new stake in shares of Smartsheet during the fourth quarter valued at $204,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. KeyCorp assumed coverage on Smartsheet in a research note on Thursday, March 21st. They issued a “sector weight” rating on the stock. Barclays decreased their price target on Smartsheet from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, March 15th. Oppenheimer decreased their price target on Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. JPMorgan Chase & Co. decreased their price target on Smartsheet from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Finally, Royal Bank of Canada decreased their price target on Smartsheet from $48.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.75.

Smartsheet Stock Performance

SMAR stock opened at $40.07 on Friday. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $52.81. The stock’s 50 day moving average is $38.97 and its two-hundred day moving average is $42.32.

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

Insider Activity

In other news, CRO Michael Arntz sold 7,702 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $39.44, for a total value of $303,766.88. Following the completion of the sale, the executive now directly owns 12,718 shares in the company, valued at approximately $501,597.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Pete Godbole sold 10,129 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 44,346 shares in the company, valued at approximately $1,714,859.82. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Michael Arntz sold 7,702 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $39.44, for a total value of $303,766.88. Following the transaction, the executive now owns 12,718 shares of the company’s stock, valued at $501,597.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,568 shares of company stock worth $914,723. 4.71% of the stock is currently owned by insiders.

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.