EFG Asset Management North America Corp. Sells 775 Shares of Smartsheet Inc (NYSE:SMAR)

EFG Asset Management North America Corp. reduced its stake in Smartsheet Inc (NYSE:SMAR) by 2.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 31,181 shares of the company’s stock after selling 775 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Smartsheet were worth $1,491,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of SMAR. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Smartsheet by 256.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 152,522 shares of the company’s stock worth $7,294,000 after buying an additional 109,786 shares during the period. Moody National Bank Trust Division bought a new stake in Smartsheet during the 4th quarter worth approximately $1,755,000. Lecap Asset Management Ltd. purchased a new position in Smartsheet during the fourth quarter valued at approximately $1,287,000. Lisanti Capital Growth LLC increased its stake in shares of Smartsheet by 197.4% in the fourth quarter. Lisanti Capital Growth LLC now owns 75,040 shares of the company’s stock worth $3,588,000 after purchasing an additional 49,810 shares in the last quarter. Finally, Keenan Capital LLC increased its stake in shares of Smartsheet by 3.9% in the third quarter. Keenan Capital LLC now owns 1,200,433 shares of the company’s stock worth $48,570,000 after purchasing an additional 45,000 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Smartsheet Stock Up 1.1 %

NYSE SMAR traded up $0.45 during trading hours on Thursday, hitting $41.94. 1,094,166 shares of the company were exchanged, compared to its average volume of 1,502,969. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $52.81. The stock has a 50-day moving average price of $38.90 and a 200 day moving average price of $42.38. The stock has a market cap of $5.76 billion, a PE ratio of -52.80 and a beta of 0.73.

Smartsheet (NYSE:SMAR) last released its earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.17. The firm had revenue of $256.95 million for the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. As a group, sell-side analysts anticipate that Smartsheet Inc will post -0.43 earnings per share for the current year.

Analysts Set New Price Targets

SMAR has been the subject of several recent analyst reports. Jefferies Financial Group dropped their target price on shares of Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 15th. Oppenheimer cut their target price on Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Royal Bank of Canada lowered their price target on Smartsheet from $48.00 to $36.00 and set a “sector perform” rating on the stock in a report on Friday, March 15th. Canaccord Genuity Group cut their price objective on shares of Smartsheet from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, March 18th. Finally, Morgan Stanley lowered their target price on shares of Smartsheet from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.75.

Insider Transactions at Smartsheet

In related news, CFO Pete Godbole sold 10,129 shares of Smartsheet stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $38.67, for a total transaction of $391,688.43. Following the completion of the transaction, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $1,714,859.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Pete Godbole sold 10,129 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total transaction of $391,688.43. Following the completion of the transaction, the chief financial officer now owns 44,346 shares in the company, valued at approximately $1,714,859.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Michael Arntz sold 7,702 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the completion of the transaction, the executive now directly owns 12,718 shares in the company, valued at approximately $501,597.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,568 shares of company stock worth $914,723. 4.71% of the stock is currently owned by insiders.

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.