Andar Capital Management HK Ltd Acquires New Position in Smartsheet Inc (NYSE:SMAR)

Andar Capital Management HK Ltd acquired a new stake in shares of Smartsheet Inc (NYSE:SMAR - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 80,000 shares of the company's stock, valued at approximately $3,826,000. Smartsheet accounts for about 5.4% of Andar Capital Management HK Ltd's investment portfolio, making the stock its 7th largest position. Andar Capital Management HK Ltd owned 0.06% of Smartsheet at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new position in Smartsheet during the fourth quarter valued at $33,000. Allworth Financial LP grew its stake in Smartsheet by 2,503.4% during 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 in the last quarter. Castleview Partners LLC purchased a new position in Smartsheet during the third quarter valued at $39,000. DekaBank Deutsche Girozentrale purchased a new position in Smartsheet during the third quarter valued at $105,000. Finally, CWM LLC grew its stake in Smartsheet by 14.7% during 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. 90.01% of the stock is currently owned by institutional investors.

Insider Activity at Smartsheet

In related news, insider Jolene Lau Marshall sold 2,247 shares of Smartsheet stock in a transaction dated 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 in the company, valued at approximately $546,168.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CRO Michael Arntz sold 7,702 shares of the business's stock in a transaction dated 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 approximately $501,597.92. 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 the business's stock in a transaction dated 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. Insiders sold 33,387 shares of company stock worth $1,355,207 in the last 90 days. 4.71% of the stock is owned by corporate insiders.

Smartsheet Trading Up 1.8 %

Shares of SMAR stock traded up $0.67 during trading hours on Wednesday, reaching $38.50. 1,338,734 shares of the stock were exchanged, compared to its average volume of 1,534,937. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $52.81. The company's 50-day moving average price is $39.42 and its 200-day moving average price is $42.48. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of -48.73 and a beta of 0.73.

Smartsheet (NYSE:SMAR - Get Free Report) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) earnings per share for the quarter, beating 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. On average, sell-side analysts expect that Smartsheet Inc will post -0.43 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SMAR. Wells Fargo & Company cut their target price on shares of Smartsheet from $55.00 to $47.00 and set an "overweight" rating for the company in a research note on Friday, March 15th. Morgan Stanley cut their target price on shares of Smartsheet from $56.00 to $51.00 and set an "overweight" rating for the company in a research note on Friday, March 15th. Needham & Company LLC reissued a "buy" rating and issued a $57.00 price objective on shares of Smartsheet in a research note on Friday, March 15th. Oppenheimer dropped their price objective on shares of Smartsheet from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, March 15th. Finally, UBS Group dropped 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Smartsheet presently has an average rating of "Moderate Buy" and a consensus price target 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.