Assenagon Asset Management S.A. Has $1.49 Million Stake in Smartsheet Inc (NYSE:SMAR)

Assenagon Asset Management S.A. decreased its holdings in shares of Smartsheet Inc (NYSE:SMAR - Free Report) by 40.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,790 shares of the company's stock after selling 25,940 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Smartsheet were worth $1,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Smartsheet by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 13,583,818 shares of the company's stock valued at $649,578,000 after purchasing an additional 276,117 shares during the last quarter. Eminence Capital LP raised its stake in shares of Smartsheet by 58.3% during the third quarter. Eminence Capital LP now owns 3,329,155 shares of the company's stock worth $134,698,000 after acquiring an additional 1,226,189 shares in the last quarter. Dorsal Capital Management LP boosted its holdings in Smartsheet by 4.0% during the 4th quarter. Dorsal Capital Management LP now owns 3,225,000 shares of the company's stock valued at $154,220,000 after acquiring an additional 125,000 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Smartsheet by 9.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,706,943 shares of the company's stock valued at $129,446,000 after acquiring an additional 224,513 shares during the period. Finally, TimesSquare Capital Management LLC raised its position in 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 purchasing an additional 172,009 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SMAR shares. Canaccord Genuity Group decreased their price objective on shares of Smartsheet from $55.00 to $45.00 and set a "buy" rating for the company in a report on Monday, March 18th. DA Davidson decreased their target price on shares of Smartsheet from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, March 15th. Barclays lowered their price target on shares of Smartsheet from $50.00 to $40.00 and set an "equal weight" rating on the stock in a report on Friday, March 15th. Jefferies Financial Group decreased their price objective on shares of Smartsheet from $57.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, March 15th. Finally, Wells Fargo & Company dropped their target price 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 given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $49.75.

Smartsheet Stock Down 0.3 %

SMAR stock traded down $0.12 during trading on Monday, hitting $41.91. 957,067 shares of the company's stock traded hands, compared to its average volume of 1,493,037. The firm has a market capitalization of $5.76 billion, a P/E ratio of -53.05 and a beta of 0.73. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $52.81. The business has a fifty day simple moving average of $38.92 and a two-hundred day simple moving average of $42.46.

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, beating 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 business had revenue of $256.95 million during the quarter, compared to analyst estimates of $254.99 million. On average, equities research analysts predict that Smartsheet Inc will post -0.43 EPS for the current fiscal year.

Insider Transactions at Smartsheet

In other news, CRO Michael Arntz sold 7,702 shares of the business's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $39.44, for a total transaction of $303,766.88. Following the sale, the executive now directly owns 12,718 shares of the company's stock, valued at $501,597.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Smartsheet news, CFO Pete Godbole sold 10,129 shares of the firm's stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $38.67, for a total transaction of $391,688.43. Following the completion of the transaction, the chief financial officer now directly owns 44,346 shares of the company's stock, valued at approximately $1,714,859.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Michael Arntz sold 7,702 shares of the company's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $39.44, for a total transaction of $303,766.88. Following the completion of the sale, the executive now directly owns 12,718 shares in the company, valued at $501,597.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,770 shares of company stock worth $1,132,791. Insiders own 4.52% of the company's stock.

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.

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