Smartsheet Inc (NYSE:SMAR) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC increased its position in Smartsheet Inc (NYSE:SMAR - Free Report) by 4,386.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,544 shares of the company's stock after acquiring an additional 26,930 shares during the quarter. International Assets Investment Management LLC's holdings in Smartsheet were worth $1,317,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Smartsheet during the 4th quarter valued at about $33,000. Castleview Partners LLC bought a new stake in Smartsheet during the third quarter valued at approximately $39,000. DekaBank Deutsche Girozentrale purchased a new position in Smartsheet in the 3rd quarter worth approximately $105,000. CWM LLC increased its holdings in shares of Smartsheet by 14.7% in the 3rd quarter. CWM LLC now owns 3,044 shares of the company's stock worth $123,000 after buying an additional 390 shares during the last quarter. Finally, Vinva Investment Management Ltd purchased a new stake in shares of Smartsheet during the 3rd quarter valued at $131,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Smartsheet Price Performance

Smartsheet stock traded up $1.08 during trading hours on Monday, reaching $37.88. The stock had a trading volume of 1,728,157 shares, compared to its average volume of 1,569,270. The company has a fifty day simple moving average of $40.40 and a 200-day simple moving average of $42.70. 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 $5.21 billion, a PE ratio of -47.39 and a beta of 0.73.

Smartsheet (NYSE:SMAR - Get Free Report) last posted its 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. 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 analyst estimates of $254.99 million. Research analysts predict that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SMAR. 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. Canaccord Genuity Group cut their price objective on Smartsheet from $55.00 to $45.00 and set a "buy" rating for the company in a report on Monday, March 18th. Barclays decreased their price objective on Smartsheet from $50.00 to $40.00 and set an "equal weight" rating on the stock in a report on Friday, March 15th. Needham & Company LLC restated a "buy" rating and issued a $57.00 target price on shares of Smartsheet in a research report on Friday, March 15th. Finally, Bank of America initiated coverage on shares of Smartsheet in a research report on Monday, February 26th. They set an "underperform" rating and a $45.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.75.

Insider Transactions at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,247 shares of the company'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 directly owns 12,129 shares in the company, valued at approximately $546,168.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Pete Godbole sold 10,129 shares of the firm'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 value of $391,688.43. Following the completion of the transaction, the chief financial officer now owns 44,346 shares in the company, valued at approximately $1,714,859.82. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jolene Lau Marshall sold 2,247 shares of Smartsheet stock in a transaction that occurred 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 sale, the insider now owns 12,129 shares in the company, valued at $546,168.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,387 shares of company stock worth $1,355,207. 4.71% of the stock is currently owned by insiders.

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.