Magnetar Financial LLC Purchases 5,070 Shares of Smartsheet Inc (NYSE:SMAR)

Magnetar Financial LLC increased its position in shares of Smartsheet Inc (NYSE:SMAR) by 49.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,244 shares of the company’s stock after buying an additional 5,070 shares during the period. Magnetar Financial LLC’s holdings in Smartsheet were worth $587,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quadrature Capital Ltd raised its stake in Smartsheet by 85.3% during the 1st quarter. Quadrature Capital Ltd now owns 33,992 shares of the company’s stock valued at $1,309,000 after purchasing an additional 15,643 shares during the last quarter. Capital International Sarl raised its stake in Smartsheet by 2.2% during the 1st quarter. Capital International Sarl now owns 85,778 shares of the company’s stock valued at $3,302,000 after purchasing an additional 1,874 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Smartsheet by 24.6% during the 1st quarter. Advisors Asset Management Inc. now owns 1,822 shares of the company’s stock valued at $70,000 after purchasing an additional 360 shares during the last quarter. EntryPoint Capital LLC raised its stake in Smartsheet by 51.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,432 shares of the company’s stock valued at $94,000 after purchasing an additional 821 shares during the last quarter. Finally, Natixis raised its stake in Smartsheet by 14.3% during the 1st quarter. Natixis now owns 75,500 shares of the company’s stock valued at $2,907,000 after purchasing an additional 9,438 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Smartsheet Stock Performance

Shares of SMAR stock traded up $0.13 during trading on Monday, reaching $48.53. The company’s stock had a trading volume of 17,784 shares, compared to its average volume of 1,517,724. The business has a fifty day moving average price of $42.86 and a 200-day moving average price of $42.04. Smartsheet Inc has a one year low of $35.52 and a one year high of $49.42.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings results on Wednesday, June 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.06. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. The firm had revenue of $262.98 million for the quarter, compared to analyst estimates of $258.06 million. Equities research analysts expect that Smartsheet Inc will post -0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Stephen Robert Branstetter sold 4,174 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $43.91, for a total value of $183,280.34. Following the transaction, the chief operating officer now directly owns 68,067 shares in the company, valued at $2,988,821.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Pete Godbole sold 5,202 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $41.92, for a total value of $218,067.84. Following the transaction, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,858,984.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephen Robert Branstetter sold 4,174 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $43.91, for a total transaction of $183,280.34. Following the completion of the transaction, the chief operating officer now owns 68,067 shares in the company, valued at $2,988,821.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,390 shares of company stock valued at $1,484,631. 4.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets increased their price objective on shares of Smartsheet from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. Royal Bank of Canada increased their target price on shares of Smartsheet from $36.00 to $43.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. Barclays increased their target price on shares of Smartsheet from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 6th. Canaccord Genuity Group increased their target price on shares of Smartsheet from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, UBS Group increased their target price on shares of Smartsheet from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.00.

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.