Voya Investment Management LLC Acquires 415 Shares of Smartsheet Inc (NYSE:SMAR)

Voya Investment Management LLC boosted its holdings in Smartsheet Inc (NYSE:SMAR) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,998 shares of the company’s stock after acquiring an additional 415 shares during the quarter. Voya Investment Management LLC’s holdings in Smartsheet were worth $865,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Meadow Creek Investment Management LLC raised its stake in Smartsheet by 76.9% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 1,840 shares of the company’s stock valued at $89,000 after buying an additional 800 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Smartsheet by 52.7% in the 2nd quarter. SG Americas Securities LLC now owns 7,825 shares of the company’s stock worth $379,000 after purchasing an additional 2,700 shares in the last quarter. Highland Private Wealth Management purchased a new stake in shares of Smartsheet in the 2nd quarter worth $958,000. Atria Investments LLC purchased a new stake in shares of Smartsheet in the 2nd quarter worth $1,191,000. Finally, Sigma Planning Corp purchased a new stake in shares of Smartsheet in the 2nd quarter worth $517,000. 74.26% of the stock is currently owned by institutional investors and hedge funds.

SMAR opened at $41.57 on Friday. The firm has a 50-day simple moving average of $42.16 and a two-hundred day simple moving average of $44.90. Smartsheet Inc has a 52 week low of $22.01 and a 52 week high of $55.79. The company has a market capitalization of $5.04 billion, a PE ratio of -67.05 and a beta of 2.02. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 0.08.

Smartsheet (NYSE:SMAR) last released its quarterly earnings data on Wednesday, December 4th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.13. Smartsheet had a negative net margin of 32.50% and a negative return on equity of 26.57%. The business had revenue of $71.50 million during the quarter, compared to the consensus estimate of $69.83 million. During the same quarter in the prior year, the firm earned ($0.09) EPS. The business’s revenue was up 52.5% on a year-over-year basis. As a group, sell-side analysts expect that Smartsheet Inc will post -0.88 earnings per share for the current year.

In related news, Director Geoffrey T. Barker sold 16,700 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $41.25, for a total value of $688,875.00. Also, insider Eugene Farrell sold 10,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $40.28, for a total transaction of $402,800.00. Insiders have sold a total of 598,150 shares of company stock valued at $23,834,403 in the last three months. Insiders own 24.73% of the company’s stock.

Several research firms have recently commented on SMAR. Wedbush lowered Smartsheet from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $62.00 to $42.00 in a research note on Monday, November 11th. First Analysis began coverage on Smartsheet in a research note on Tuesday, November 12th. They issued an “outperform” rating and a $50.00 price objective for the company. Royal Bank of Canada reduced their price objective on Smartsheet from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Stephens restated a “buy” rating and issued a $55.00 price objective on shares of Smartsheet in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upped their price objective on Smartsheet from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $50.50.

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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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