Janus Henderson Group PLC Reduces Stake in Smartsheet Inc (NYSE:SMAR)

Janus Henderson Group PLC trimmed its stake in Smartsheet Inc (NYSE:SMAR) by 89.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,195 shares of the company’s stock after selling 27,761 shares during the quarter. Janus Henderson Group PLC’s holdings in Smartsheet were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. US Bancorp DE boosted its stake in Smartsheet by 4.7% in the fourth quarter. US Bancorp DE now owns 3,391 shares of the company’s stock valued at $235,000 after acquiring an additional 152 shares during the last quarter. Amalgamated Bank boosted its stake in Smartsheet by 1.0% in the fourth quarter. Amalgamated Bank now owns 22,576 shares of the company’s stock valued at $1,564,000 after acquiring an additional 222 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Smartsheet by 4.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,285 shares of the company’s stock valued at $435,000 after acquiring an additional 259 shares during the last quarter. First Trust Advisors LP boosted its stake in Smartsheet by 0.4% in the first quarter. First Trust Advisors LP now owns 86,589 shares of the company’s stock valued at $3,532,000 after acquiring an additional 318 shares during the last quarter. Finally, Huntington National Bank purchased a new position in Smartsheet in the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.

Smartsheet stock opened at $63.97 on Thursday. The firm’s 50 day simple moving average is $67.91 and its 200 day simple moving average is $63.66. The firm has a market capitalization of $7.94 billion, a PE ratio of -67.34 and a beta of 1.52. Smartsheet Inc has a 1-year low of $40.21 and a 1-year high of $85.43.

Smartsheet (NYSE:SMAR) last posted its earnings results on Monday, March 15th. The company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.09. The business had revenue of $109.87 million for the quarter, compared to analyst estimates of $102.69 million. Smartsheet had a negative net margin of 32.32% and a negative return on equity of 21.98%. Smartsheet’s revenue was up 39.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.13) EPS. As a group, research analysts anticipate that Smartsheet Inc will post -1.06 earnings per share for the current year.

A number of research firms have weighed in on SMAR. BMO Capital Markets dropped their target price on shares of Smartsheet from $86.00 to $83.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 23rd. Zacks Investment Research lowered shares of Smartsheet from a “hold” rating to a “sell” rating in a research report on Tuesday, March 23rd. JPMorgan Chase & Co. raised shares of Smartsheet from a “neutral” rating to an “overweight” rating and set a $83.00 price target on the stock in a research report on Tuesday, March 23rd. Oppenheimer boosted their price target on shares of Smartsheet from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, January 4th. Finally, Citigroup boosted their price target on shares of Smartsheet from $65.00 to $76.00 in a research report on Wednesday, March 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $73.31.

In other news, Director Brent Frei sold 50,000 shares of the firm’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $81.86, for a total transaction of $4,093,000.00. Following the sale, the director now owns 3,112,560 shares in the company, valued at approximately $254,794,161.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Michael Arntz sold 522 shares of the firm’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $80.00, for a total transaction of $41,760.00. Following the sale, the executive now owns 16,520 shares in the company, valued at approximately $1,321,600. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,766 shares of company stock worth $22,950,181. Corporate insiders own 10.20% of the company’s stock.

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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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