732 Shares in Smartsheet Inc (NYSE:SMAR) Bought by True Wealth Design LLC

True Wealth Design LLC acquired a new stake in Smartsheet Inc (NYSE:SMAR) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 732 shares of the company’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. US Bancorp DE boosted its stake in shares of Smartsheet by 12.9% in the 3rd quarter. US Bancorp DE now owns 1,749 shares of the company’s stock valued at $97,000 after purchasing an additional 200 shares in the last quarter. Landscape Capital Management L.L.C. lifted its stake in Smartsheet by 0.3% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock valued at $4,596,000 after purchasing an additional 225 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Smartsheet by 25.5% in the third quarter. First Horizon Advisors Inc. now owns 1,122 shares of the company’s stock valued at $62,000 after buying an additional 228 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Smartsheet by 2.4% during the third quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock worth $639,000 after buying an additional 266 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Smartsheet by 2.1% during the third quarter. Larson Financial Group LLC now owns 13,253 shares of the company’s stock worth $734,000 after buying an additional 277 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SMAR shares. Barclays boosted their price objective on Smartsheet from $50.00 to $56.50 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Jefferies Financial Group restated a “hold” rating and set a $56.50 price target (down from $60.00) on shares of Smartsheet in a report on Tuesday, September 24th. Canaccord Genuity Group reiterated a “hold” rating and issued a $56.50 price objective (down previously from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. UBS Group reiterated a “neutral” rating and set a $56.50 target price (down from $61.00) on shares of Smartsheet in a research report on Thursday, September 26th. Finally, Needham & Company LLC restated a “hold” rating and issued a $57.00 price target on shares of Smartsheet in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Smartsheet presently has a consensus rating of “Hold” and a consensus target price of $55.82.

Insiders Place Their Bets

In related news, COO Stephen Robert Branstetter sold 1,847 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $53.00, for a total transaction of $97,891.00. Following the transaction, the chief operating officer now directly owns 64,215 shares of the company’s stock, valued at approximately $3,403,395. This represents a 2.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $56.05, for a total value of $280,250.00. Following the completion of the sale, the chief executive officer now directly owns 578,762 shares of the company’s stock, valued at $32,439,610.10. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,194 shares of company stock worth $2,248,098. 4.52% of the stock is currently owned by company insiders.

Smartsheet Price Performance

Shares of NYSE:SMAR opened at $55.95 on Monday. The business’s 50-day moving average is $55.80 and its 200-day moving average is $49.13. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of -180.48 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. The firm had revenue of $276.41 million for the quarter, compared to analysts’ expectations of $274.23 million. Smartsheet had a negative return on equity of 4.29% and a negative net margin of 4.07%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) EPS. Analysts anticipate that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet declared that its board has authorized a share repurchase plan on Thursday, September 5th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.