Vanderbilt University Invests $1.87 Million in Smartsheet Inc (NYSE:SMAR)

Vanderbilt University purchased a new stake in Smartsheet Inc (NYSE:SMAR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 39,079 shares of the company's stock, valued at approximately $1,869,000. Smartsheet accounts for approximately 0.5% of Vanderbilt University's investment portfolio, making the stock its 17th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina raised its position in shares of Smartsheet by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 55,099 shares of the company's stock valued at $2,229,000 after buying an additional 280 shares in the last quarter. Delphia USA Inc. increased its stake in Smartsheet by 4.0% during the 1st quarter. Delphia USA Inc. now owns 7,260 shares of the company's stock worth $347,000 after acquiring an additional 281 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Smartsheet by 0.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,396 shares of the company's stock valued at $2,968,000 after acquiring an additional 343 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Smartsheet by 1.0% during the 3rd quarter. Royal Bank of Canada now owns 37,005 shares of the company's stock valued at $1,272,000 after acquiring an additional 364 shares during the period. Finally, CWM LLC grew its holdings in shares of Smartsheet by 14.7% during the 3rd quarter. CWM LLC now owns 3,044 shares of the company's stock worth $123,000 after purchasing an additional 390 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Stephen Robert Branstetter sold 5,737 shares of Smartsheet stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $38.22, for a total value of $219,268.14. Following the transaction, the chief operating officer now directly owns 67,801 shares of the company's stock, valued at $2,591,354.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CRO Michael Arntz sold 7,572 shares of Smartsheet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $44.81, for a total value of $339,301.32. Following the completion of the transaction, the executive now directly owns 7,148 shares of the company's stock, valued at approximately $320,301.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Stephen Robert Branstetter sold 5,737 shares of the business's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total value of $219,268.14. Following the completion of the transaction, the chief operating officer now directly owns 67,801 shares in the company, valued at $2,591,354.22. The disclosure for this sale can be found here. Insiders sold a total of 23,258 shares of company stock valued at $963,519 in the last three months. Insiders own 4.71% of the company's stock.

Smartsheet Price Performance

NYSE SMAR traded down $0.61 during trading hours on Wednesday, reaching $38.14. The company's stock had a trading volume of 2,271,263 shares, compared to its average volume of 1,556,417. The firm has a fifty day simple moving average of $42.31 and a 200-day simple moving average of $42.87. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $52.81. The stock has a market cap of $5.24 billion, a P/E ratio of -48.28 and a beta of 0.73.

Smartsheet (NYSE:SMAR - Get Free Report) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.17. The firm had revenue of $256.95 million during the quarter, compared to analysts' expectations of $254.99 million. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. On average, research analysts expect that Smartsheet Inc will post -0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SMAR shares. Oppenheimer dropped their price target on Smartsheet from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, March 15th. BMO Capital Markets dropped their target price on shares of Smartsheet from $48.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, March 18th. Canaccord Genuity Group decreased their price objective on shares of Smartsheet from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, March 18th. Citigroup upgraded shares of Smartsheet from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $56.00 to $63.00 in a research report on Thursday, January 11th. Finally, Jefferies Financial Group reduced their target price on Smartsheet from $57.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, March 15th. One equities research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $49.75.

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.