SG Americas Securities LLC Purchases 1,735 Shares of Smartsheet Inc (NYSE:SMAR)

SG Americas Securities LLC increased its position in shares of Smartsheet Inc (NYSE:SMAR) by 47.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,364 shares of the company’s stock after purchasing an additional 1,735 shares during the period. SG Americas Securities LLC’s holdings in Smartsheet were worth $297,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Smartsheet in the second quarter valued at $25,000. Banque Cantonale Vaudoise bought a new position in shares of Smartsheet during the first quarter valued at approximately $29,000. Versant Capital Management Inc bought a new stake in shares of Smartsheet during the 2nd quarter worth approximately $31,000. Plato Investment Management Ltd purchased a new position in Smartsheet during the 1st quarter valued at $35,000. Finally, First Horizon Advisors Inc. grew its position in Smartsheet by 37.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock valued at $39,000 after acquiring an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, COO Stephen Robert Branstetter sold 1,847 shares of Smartsheet stock in a transaction on Monday, September 16th. The shares were sold at an average price of $53.00, for a total transaction of $97,891.00. Following the transaction, the chief operating officer now owns 64,215 shares in the company, valued at approximately $3,403,395. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Stephen Robert Branstetter sold 1,847 shares of the company’s stock in a transaction on Monday, September 16th. The shares were 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 of the company’s stock, valued at $3,403,395. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jolene Lau Marshall sold 3,571 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $55.37, for a total transaction of $197,726.27. Following the transaction, the insider now directly owns 9,958 shares in the company, valued at $551,374.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,730 shares of company stock valued at $1,968,866 over the last quarter. Company insiders own 4.52% of the company’s stock.

Smartsheet Trading Down 0.2 %

Shares of NYSE SMAR opened at $55.97 on Friday. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.09. The stock has a market cap of $7.74 billion, a PE ratio of -90.27 and a beta of 0.75. The company has a 50-day moving average of $52.08 and a 200 day moving average of $45.38.

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

Smartsheet declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 5th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on SMAR. Needham & Company LLC reaffirmed a “hold” rating and issued a $57.00 price target on shares of Smartsheet in a research note on Tuesday, September 24th. Guggenheim lifted their price target on shares of Smartsheet from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Citigroup reissued a “neutral” rating and issued a $56.50 price objective (down previously from $63.00) on shares of Smartsheet in a research note on Friday, September 27th. Royal Bank of Canada lifted their target price on Smartsheet from $51.00 to $56.50 and gave the company a “sector perform” rating in a research report on Wednesday, September 25th. Finally, Truist Financial reissued a “hold” rating and set a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.82.

About Smartsheet

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.