Vanguard Group Inc. Has $649.58 Million Stake in Smartsheet Inc (NYSE:SMAR)

Vanguard Group Inc. grew its position in Smartsheet Inc (NYSE:SMAR) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,583,818 shares of the company’s stock after purchasing an additional 276,117 shares during the quarter. Vanguard Group Inc. owned about 9.97% of Smartsheet worth $649,578,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SMAR. UBS Group AG grew its position in shares of Smartsheet by 207.6% in the third quarter. UBS Group AG now owns 113,356 shares of the company’s stock valued at $4,586,000 after purchasing an additional 76,499 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Smartsheet in the third quarter valued at approximately $105,000. Northern Trust Corp boosted its stake in shares of Smartsheet by 3.5% in the third quarter. Northern Trust Corp now owns 610,015 shares of the company’s stock valued at $24,681,000 after buying an additional 20,832 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Smartsheet by 46.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 225,237 shares of the company’s stock valued at $9,113,000 after buying an additional 71,338 shares during the period. Finally, Profund Advisors LLC boosted its stake in shares of Smartsheet by 12.7% in the third quarter. Profund Advisors LLC now owns 20,126 shares of the company’s stock valued at $814,000 after buying an additional 2,262 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Smartsheet Stock Performance

Shares of SMAR opened at $42.69 on Monday. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of -68.85 and a beta of 0.74. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $49.42. The stock has a fifty day moving average of $39.86 and a 200-day moving average of $42.31.

Insider Activity at Smartsheet

In related news, CFO Pete Godbole sold 10,129 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,714,859.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Pete Godbole sold 10,129 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,714,859.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen Robert Branstetter sold 4,174 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $43.91, for a total value of $183,280.34. Following the completion of the sale, the chief operating officer now owns 68,067 shares of the company’s stock, valued at $2,988,821.97. The disclosure for this sale can be found here. Insiders sold 32,742 shares of company stock worth $1,338,855 over the last three months. Company insiders own 4.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group cut their price target on Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 15th. BMO Capital Markets boosted their price target on Smartsheet from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. KeyCorp started coverage on Smartsheet in a research note on Thursday, March 21st. They set a “sector weight” rating for the company. Morgan Stanley upped their target price on Smartsheet from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, June 6th. Finally, Bank of America started coverage on Smartsheet in a research note on Monday, February 26th. They set an “underperform” rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.75.

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.