Smartsheet Inc (NYSE:SMAR) Stake Cut by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. decreased its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 20.5% in the 2nd quarter, Holdings Channel reports. The firm owned 26,274 shares of the company’s stock after selling 6,772 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Smartsheet were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of SMAR. Banque Cantonale Vaudoise acquired a new position in shares of Smartsheet in the 1st quarter valued at about $29,000. Versant Capital Management Inc acquired a new position in Smartsheet in the second quarter valued at approximately $31,000. Plato Investment Management Ltd bought a new position in shares of Smartsheet during the first quarter valued at approximately $35,000. First Horizon Advisors Inc. raised its position in shares of Smartsheet by 37.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock worth $39,000 after purchasing an additional 244 shares during the period. Finally, Quent Capital LLC lifted its holdings in shares of Smartsheet by 169.1% in the 2nd quarter. Quent Capital LLC now owns 915 shares of the company’s stock worth $40,000 after purchasing an additional 575 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Pete Godbole sold 7,244 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $41.22, for a total value of $298,597.68. Following the transaction, the chief financial officer now owns 30,786 shares in the company, valued at $1,268,998.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Stephen Robert Branstetter sold 4,272 shares of Smartsheet stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $44.42, for a total value of $189,762.24. Following the transaction, the chief operating officer now directly owns 63,795 shares in the company, valued at $2,833,773.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Pete Godbole sold 7,244 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $41.22, for a total value of $298,597.68. Following the transaction, the chief financial officer now owns 30,786 shares of the company’s stock, valued at $1,268,998.92. The disclosure for this sale can be found here. Insiders have sold a total of 32,929 shares of company stock valued at $1,446,805 in the last three months. Insiders own 4.52% of the company’s stock.

Smartsheet Trading Up 0.3 %

NYSE SMAR traded up $0.15 during trading on Monday, reaching $49.84. 246,626 shares of the company’s stock were exchanged, compared to its average volume of 1,447,478. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $50.38. The company’s fifty day simple moving average is $45.64 and its 200-day simple moving average is $42.22. The firm has a market capitalization of $6.89 billion, a PE ratio of -80.42 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Wednesday, June 5th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Smartsheet had a negative net margin of 8.35% and a negative return on equity of 12.06%. The firm had revenue of $262.98 million for the quarter, compared to the consensus estimate of $258.06 million. Equities analysts forecast that Smartsheet Inc will post -0.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SMAR has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on Smartsheet from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada increased their price objective on shares of Smartsheet from $36.00 to $43.00 and gave the stock a “sector perform” rating in a report on Thursday, June 6th. Barclays lifted their price objective on shares of Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th. Canaccord Genuity Group upped their target price on shares of Smartsheet from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price target on shares of Smartsheet in a report on Thursday, June 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.12.

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.