International Assets Investment Management LLC Purchases 26,930 Shares of Smartsheet Inc (NYSE:SMAR)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of SMAR. Vanguard Group Inc. lifted its holdings in shares of Smartsheet by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 13,307,701 shares of the company's stock valued at $538,430,000 after acquiring an additional 261,836 shares in the last quarter. Eminence Capital LP lifted its holdings in shares of Smartsheet by 58.3% during the 3rd quarter. Eminence Capital LP now owns 3,329,155 shares of the company's stock valued at $134,698,000 after acquiring an additional 1,226,189 shares in the last quarter. TimesSquare Capital Management LLC lifted its holdings in shares of Smartsheet by 8.9% during the 3rd quarter. TimesSquare Capital Management LLC now owns 2,100,142 shares of the company's stock valued at $84,972,000 after acquiring an additional 172,009 shares in the last quarter. RGM Capital LLC acquired a new position in shares of Smartsheet during the 3rd quarter valued at $50,705,000. Finally, Keenan Capital LLC lifted its holdings in shares of Smartsheet by 3.9% during the 3rd quarter. Keenan Capital LLC now owns 1,200,433 shares of the company's stock valued at $48,570,000 after acquiring an additional 45,000 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $57.00 price target on shares of Smartsheet in a research note on Friday, March 15th. Royal Bank of Canada dropped their price target on shares of Smartsheet from $48.00 to $36.00 and set a "sector perform" rating on the stock in a research note on Friday, March 15th. Oppenheimer dropped their target price on shares of Smartsheet from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, March 15th. Bank of America assumed coverage on shares of Smartsheet in a research report on Monday, February 26th. They set an "underperform" rating and a $45.00 price objective for the company. Finally, Barclays lowered their price objective on shares of Smartsheet from $50.00 to $40.00 and set an "equal weight" rating for the company in a research report on Friday, March 15th. One investment 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.com, Smartsheet presently has an average rating of "Moderate Buy" and a consensus price target of $49.75.

Insider Buying and Selling

In related news, CRO Michael Arntz sold 7,702 shares of the company'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 completion of the sale, the executive now owns 12,718 shares in the company, valued at approximately $501,597.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Smartsheet news, COO Stephen Robert Branstetter sold 5,737 shares of the firm's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total value of $219,268.14. Following the sale, the chief operating officer now directly owns 67,801 shares in the company, valued at approximately $2,591,354.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Michael Arntz sold 7,702 shares of the firm's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $39.44, for a total transaction of $303,766.88. Following the transaction, the executive now directly owns 12,718 shares of the company's stock, valued at $501,597.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,568 shares of company stock worth $914,723. Corporate insiders own 4.71% of the company's stock.

Smartsheet Price Performance

Shares of Smartsheet stock traded up $0.62 on Wednesday, hitting $41.49. The company had a trading volume of 1,164,130 shares, compared to its average volume of 1,507,314. The business has a 50-day simple moving average of $38.90 and a 200-day simple moving average of $42.38. The company has a market cap of $5.70 billion, a PE ratio of -52.52 and a beta of 0.73. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $52.81.

Smartsheet (NYSE:SMAR - Get Free Report) last issued 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. The firm had revenue of $256.95 million during the quarter, compared to analysts' expectations of $254.99 million. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. On average, equities research analysts predict that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

About Smartsheet

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.