AtonRa Partners Trims Holdings in Smartsheet Inc (NYSE:SMAR)

AtonRa Partners trimmed its stake in shares of Smartsheet Inc (NYSE:SMAR) by 13.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,332 shares of the company’s stock after selling 831 shares during the quarter. AtonRa Partners’ holdings in Smartsheet were worth $255,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Smartsheet in the fourth quarter worth $33,000. Allworth Financial LP grew its holdings in shares of Smartsheet by 2,503.4% during the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after purchasing an additional 726 shares in the last quarter. Castleview Partners LLC bought a new position in shares of Smartsheet in the third quarter worth approximately $39,000. DekaBank Deutsche Girozentrale bought a new position in shares of Smartsheet in the third quarter worth approximately $105,000. Finally, CWM LLC raised its stake in Smartsheet by 14.7% in the third quarter. CWM LLC now owns 3,044 shares of the company’s stock valued at $123,000 after purchasing an additional 390 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Transactions at Smartsheet

In other news, insider Jolene Lau Marshall sold 2,247 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $45.03, for a total value of $101,182.41. Following the sale, the insider now directly owns 12,129 shares of the company’s stock, valued at $546,168.87. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Jolene Lau Marshall sold 2,247 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $45.03, for a total transaction of $101,182.41. Following the sale, the insider now owns 12,129 shares in the company, valued at $546,168.87. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Pete Godbole sold 10,129 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $1,714,859.82. The disclosure for this sale can be found here. Insiders have sold a total of 33,387 shares of company stock valued at $1,355,207 in the last ninety days. 4.71% of the stock is currently owned by corporate insiders.

Smartsheet Stock Up 0.8 %

Shares of SMAR stock traded up $0.32 during midday trading on Tuesday, reaching $38.66. 288,924 shares of the stock were exchanged, compared to its average volume of 1,522,878. The company’s 50 day moving average is $39.59 and its two-hundred day moving average is $42.54. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $52.81.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.17. The business had revenue of $256.95 million during the quarter, compared to analyst estimates 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, analysts forecast that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SMAR. Canaccord Genuity Group decreased their price target on shares of Smartsheet from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Needham & Company LLC restated a “buy” rating and set a $57.00 price target on shares of Smartsheet in a research report on Friday, March 15th. JPMorgan Chase & Co. cut their price objective on Smartsheet from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Morgan Stanley decreased their price objective on Smartsheet from $56.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Finally, Wells Fargo & Company cut their target price on Smartsheet from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.75.

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.