Strs Ohio Sells 595 Shares of Smartsheet Inc (NYSE:SMAR)

Strs Ohio reduced its stake in Smartsheet Inc (NYSE:SMAR) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,031 shares of the company’s stock after selling 595 shares during the quarter. Strs Ohio’s holdings in Smartsheet were worth $623,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. bought a new stake in Smartsheet during the 4th quarter worth about $33,000. Allworth Financial LP lifted its position in Smartsheet by 2,503.4% during the 4th quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after buying an additional 726 shares in the last quarter. Castleview Partners LLC bought a new stake in Smartsheet during the 3rd quarter worth about $39,000. DekaBank Deutsche Girozentrale bought a new stake in Smartsheet during the 3rd quarter worth about $105,000. Finally, CWM LLC lifted its position in Smartsheet by 14.7% during the 3rd quarter. CWM LLC now owns 3,044 shares of the company’s stock worth $123,000 after buying an additional 390 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SMAR shares. Jefferies Financial Group cut their price target on shares of Smartsheet from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Needham & Company LLC restated a “buy” rating and set a $57.00 price objective on shares of Smartsheet in a research note on Friday, March 15th. JPMorgan Chase & Co. lowered their price objective on shares of Smartsheet from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. UBS Group decreased their price target on shares of Smartsheet from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Finally, Wells Fargo & Company decreased their price target on shares of Smartsheet from $55.00 to $47.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.75.

Smartsheet Trading Up 0.6 %

Shares of Smartsheet stock opened at $38.29 on Friday. The company has a 50 day moving average of $39.70 and a 200-day moving average of $42.58. Smartsheet Inc has a 1-year low of $35.52 and a 1-year high of $52.81. The company has a market cap of $5.26 billion, a PE ratio of -48.47 and a beta of 0.73.

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

Insider Transactions at Smartsheet

In other 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 completion of the sale, the insider now owns 12,129 shares of the company’s stock, valued at approximately $546,168.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Pete Godbole sold 10,129 shares of the 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 transaction, the chief financial officer now owns 44,346 shares of the company’s stock, valued at approximately $1,714,859.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jolene Lau Marshall sold 2,247 shares of the 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 completion of the transaction, the insider now directly owns 12,129 shares of the company’s stock, valued at approximately $546,168.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,387 shares of company stock valued at $1,355,207. Company insiders own 4.71% of the company’s stock.

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.