Lisanti Capital Growth LLC Acquires 49,810 Shares of Smartsheet Inc (NYSE:SMAR)

Lisanti Capital Growth LLC increased its holdings in shares of Smartsheet Inc (NYSE:SMAR - Free Report) by 197.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,040 shares of the company's stock after buying an additional 49,810 shares during the period. Lisanti Capital Growth LLC owned 0.06% of Smartsheet worth $3,588,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SMAR. RGM Capital LLC bought a new stake in shares of Smartsheet during the third quarter worth approximately $50,705,000. Eminence Capital LP increased its stake in Smartsheet by 58.3% in the third quarter. Eminence Capital LP now owns 3,329,155 shares of the company's stock valued at $134,698,000 after purchasing an additional 1,226,189 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Smartsheet by 6,960.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 628,138 shares of the company's stock valued at $30,038,000 after purchasing an additional 619,242 shares in the last quarter. Vanguard Group Inc. increased its stake in Smartsheet by 2.0% in the third quarter. Vanguard Group Inc. now owns 13,307,701 shares of the company's stock valued at $538,430,000 after purchasing an additional 261,836 shares in the last quarter. Finally, Lead Edge Capital Management LLC bought a new stake in Smartsheet in the third quarter valued at approximately $10,216,000. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, CRO Michael Arntz sold 7,702 shares of the firm'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 transaction, the executive now directly owns 12,718 shares of the company's stock, valued at approximately $501,597.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CRO Michael Arntz sold 7,702 shares of the firm's stock in a transaction that occurred 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 sale, the executive now directly owns 12,718 shares in the company, valued at approximately $501,597.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Stephen Robert Branstetter sold 5,737 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 67,801 shares in the company, valued at $2,591,354.22. The disclosure for this sale can be found here. Insiders have sold a total of 23,568 shares of company stock valued at $914,723 in the last ninety days. 4.71% of the stock is currently owned by company insiders.

Smartsheet Stock Performance

NYSE:SMAR traded up $0.68 during mid-day trading on Monday, reaching $39.26. 944,435 shares of the company's stock were exchanged, compared to its average volume of 1,524,193. Smartsheet Inc has a one year low of $35.52 and a one year high of $52.81. The firm has a market capitalization of $5.40 billion, a PE ratio of -49.70 and a beta of 0.73. The business's fifty day simple moving average is $39.22 and its two-hundred day simple moving average is $42.38.

Smartsheet (NYSE:SMAR - Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) EPS 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 business had revenue of $256.95 million for the quarter, compared to analyst estimates of $254.99 million. As a group, equities research analysts forecast that Smartsheet Inc will post -0.43 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on SMAR. BMO Capital Markets lowered their target price on shares of Smartsheet from $48.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, March 18th. Citigroup upgraded shares of Smartsheet from a "neutral" rating to a "buy" rating and upped their price target for the company from $56.00 to $63.00 in a report on Thursday, January 11th. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 price target on shares of Smartsheet in a report on Friday, March 15th. DA Davidson reduced their price target on shares of Smartsheet from $65.00 to $55.00 and set a "buy" rating for the company in a report on Friday, March 15th. Finally, Wells Fargo & Company reduced their price target on shares of Smartsheet from $55.00 to $47.00 and set an "overweight" 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 assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Smartsheet currently has an average rating of "Moderate Buy" and a consensus target price 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.

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