Blair William & Co. IL Sells 73,060 Shares of Smartsheet Inc (NYSE:SMAR)

Blair William & Co. IL decreased its stake in Smartsheet Inc (NYSE:SMAR) by 22.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 247,645 shares of the company’s stock after selling 73,060 shares during the period. Blair William & Co. IL owned about 0.18% of Smartsheet worth $10,916,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SMAR. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Smartsheet by 4.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,622 shares of the company’s stock valued at $468,000 after acquiring an additional 455 shares during the last quarter. Amalgamated Bank lifted its position in Smartsheet by 3.5% in the second quarter. Amalgamated Bank now owns 8,678 shares of the company’s stock valued at $383,000 after purchasing an additional 294 shares during the last quarter. Andar Capital Management HK Ltd purchased a new stake in shares of Smartsheet during the second quarter valued at approximately $1,984,000. Dimensional Fund Advisors LP boosted its stake in shares of Smartsheet by 107.3% during the second quarter. Dimensional Fund Advisors LP now owns 831,709 shares of the company’s stock valued at $36,660,000 after purchasing an additional 430,481 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Smartsheet by 590.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 18,248 shares of the company’s stock worth $791,000 after purchasing an additional 15,604 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity at Smartsheet

In related news, COO Stephen Robert Branstetter sold 1,847 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $53.00, for a total value of $97,891.00. Following the sale, the chief operating officer now directly owns 64,215 shares in the company, valued at $3,403,395. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Smartsheet 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 sale, the chief operating officer now directly owns 64,215 shares in the company, valued at $3,403,395. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jolene Lau Marshall sold 3,741 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $48.18, for a total value of $180,241.38. Following the transaction, the insider now directly owns 17,100 shares in the company, valued at approximately $823,878. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,429 shares of company stock valued at $916,925. Corporate insiders own 4.52% of the company’s stock.

Smartsheet Stock Performance

SMAR opened at $50.83 on Friday. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of -81.98 and a beta of 0.74. The firm’s fifty day moving average is $48.45 and its 200 day moving average is $43.10. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $54.50.

Smartsheet (NYSE:SMAR) last issued its earnings results on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.15. Smartsheet had a negative return on equity of 4.29% and a negative net margin of 4.07%. The company had revenue of $276.41 million for the quarter, compared to the consensus estimate of $274.23 million. During the same quarter last year, the company earned ($0.23) EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities research analysts predict that Smartsheet Inc will post -0.05 earnings per share for the current year.

Smartsheet announced that its Board of Directors has initiated a share buyback program on Thursday, September 5th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Smartsheet from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Barclays lifted their price objective on Smartsheet from $45.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Wells Fargo & Company upped their target price on Smartsheet from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. Canaccord Genuity Group lifted their price target on shares of Smartsheet from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Smartsheet from $43.00 to $51.00 and gave the company a “sector perform” rating in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.06.

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.