Lecap Asset Management Ltd. Makes New $1.29 Million Investment in Smartsheet Inc (NYSE:SMAR)

Lecap Asset Management Ltd. purchased a new position in Smartsheet Inc (NYSE:SMAR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,910 shares of the company's stock, valued at approximately $1,287,000.

Several other institutional investors have also modified their holdings of the business. Treasurer of the State of North Carolina grew its stake 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 worth $2,229,000 after acquiring an additional 280 shares in the last quarter. Delphia USA Inc. grew its stake in shares of Smartsheet by 4.0% during the first quarter. Delphia USA Inc. now owns 7,260 shares of the company's stock worth $347,000 after purchasing an additional 281 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Smartsheet by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,396 shares of the company's stock worth $2,968,000 after purchasing an additional 343 shares in the last quarter. Royal Bank of Canada boosted its stake in Smartsheet by 1.0% in the third 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 in the last quarter. Finally, CWM LLC boosted 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 acquiring an additional 390 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Wall Street Analyst Weigh In

SMAR has been the subject of several research analyst reports. UBS Group decreased their price objective on shares of Smartsheet from $60.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, March 15th. BMO Capital Markets reduced their target price on shares of Smartsheet from $48.00 to $42.00 and set an "outperform" rating for the company in a report on Monday, March 18th. Bank of America began coverage on shares of Smartsheet in a report on Monday, February 26th. They issued an "underperform" rating and a $45.00 target price for the company. Royal Bank of Canada reduced their target price on shares of Smartsheet from $48.00 to $36.00 and set a "sector perform" rating for the company in a report on Friday, March 15th. Finally, Oppenheimer reduced their target price on shares of Smartsheet from $60.00 to $55.00 and set an "outperform" rating for the company 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 company. According to data from MarketBeat.com, Smartsheet has an average rating of "Moderate Buy" and a consensus target price of $49.75.

Smartsheet Price Performance

NYSE:SMAR traded down $1.02 during trading hours on Friday, reaching $37.67. 1,169,356 shares of the company were exchanged, compared to its average volume of 2,341,149. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of -47.68 and a beta of 0.73. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $52.81. The stock has a 50 day simple moving average of $41.29 and a 200 day simple moving average of $42.79.

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

Insider Activity

In related news, COO Stephen Robert Branstetter sold 5,737 shares of Smartsheet stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total transaction of $219,268.14. Following the sale, the chief operating officer now owns 67,801 shares of the company's stock, valued at approximately $2,591,354.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Stephen Robert Branstetter sold 5,737 shares of Smartsheet stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total transaction of $219,268.14. Following the sale, the chief operating officer now owns 67,801 shares of the company's stock, valued at approximately $2,591,354.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $39.44, for a total transaction of $303,766.88. Following the sale, the executive now directly owns 12,718 shares in the company, valued at approximately $501,597.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,258 shares of company stock valued at $963,519. Company insiders own 4.71% of the company's stock.

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.