WCM Investment Management LLC Grows Position in Smartsheet Inc (NYSE:SMAR)

WCM Investment Management LLC grew its stake in Smartsheet Inc (NYSE:SMAR - Free Report) by 44.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 410,878 shares of the company's stock after purchasing an additional 127,155 shares during the period. WCM Investment Management LLC owned about 0.30% of Smartsheet worth $19,833,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of Smartsheet during the 4th quarter worth about $33,000. Allworth Financial LP increased its stake in Smartsheet by 2,503.4% in the fourth quarter. Allworth Financial LP now owns 755 shares of the company's stock valued at $36,000 after acquiring an additional 726 shares during the period. Castleview Partners LLC bought a new stake in Smartsheet in the third quarter valued at about $39,000. DekaBank Deutsche Girozentrale bought a new stake in Smartsheet in the third quarter valued at about $105,000. Finally, Captrust Financial Advisors increased its stake in Smartsheet by 202.7% in the second quarter. Captrust Financial Advisors now owns 3,530 shares of the company's stock valued at $111,000 after acquiring an additional 2,364 shares during the period. Institutional investors own 90.01% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SMAR. Bank of America began coverage on shares of Smartsheet in a research note on Monday, February 26th. They set an "underperform" rating and a $45.00 price objective on the stock. BMO Capital Markets reduced their target price on shares of Smartsheet from $48.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, March 18th. Citigroup upgraded shares of Smartsheet from a "neutral" rating to a "buy" rating and upped their target price for the stock from $56.00 to $63.00 in a research report on Thursday, January 11th. DA Davidson cut their price objective on shares of Smartsheet from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, March 15th. Finally, Royal Bank of Canada cut their price objective on shares of Smartsheet from $48.00 to $36.00 and set a "sector perform" 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 issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Smartsheet currently has an average rating of "Moderate Buy" and a consensus target price of $49.75.

Smartsheet Trading Down 2.6 %

Shares of SMAR stock traded down $1.02 during trading hours on Friday, hitting $37.67. 1,169,356 shares of the company were exchanged, compared to its average volume of 2,341,149. The business has a 50 day moving average of $41.29 and a two-hundred day moving average of $42.81. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $52.81. The company has a market capitalization of $5.18 billion, a PE ratio of -47.68 and a beta of 0.73.

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

Insider Activity at Smartsheet

In related news, insider Jolene Lau Marshall sold 2,247 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $45.03, for a total value of $101,182.41. Following the completion of the transaction, the insider now 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 can be accessed through the SEC website. In other Smartsheet news, CRO Michael Arntz sold 7,702 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the completion of the sale, the executive now owns 12,718 shares in the company, valued at $501,597.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jolene Lau Marshall sold 2,247 shares of the stock in a transaction 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 completion of the sale, the insider now owns 12,129 shares of the company's stock, valued at approximately $546,168.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,258 shares of company stock valued at $963,519. Corporate insiders own 4.71% of the company's stock.

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.