Amalgamated Bank Sells 186 Shares of Smartsheet Inc (NYSE:SMAR)

Amalgamated Bank decreased its stake in shares of Smartsheet Inc (NYSE:SMAR) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,492 shares of the company’s stock after selling 186 shares during the quarter. Amalgamated Bank’s holdings in Smartsheet were worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of SMAR. SG Americas Securities LLC increased its stake in Smartsheet by 250.1% in the first quarter. SG Americas Securities LLC now owns 15,630 shares of the company’s stock valued at $602,000 after purchasing an additional 11,166 shares in the last quarter. Sei Investments Co. grew its stake in shares of Smartsheet by 20.3% in the 1st quarter. Sei Investments Co. now owns 147,306 shares of the company’s stock valued at $5,671,000 after buying an additional 24,823 shares during the period. State Board of Administration of Florida Retirement System increased its position in Smartsheet by 5.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 128,873 shares of the company’s stock valued at $4,962,000 after buying an additional 6,260 shares in the last quarter. M&G Plc acquired a new position in Smartsheet during the 1st quarter worth approximately $6,426,000. Finally, Vanguard Group Inc. boosted its holdings in Smartsheet by 1.7% in the first quarter. Vanguard Group Inc. now owns 13,809,208 shares of the company’s stock worth $531,655,000 after acquiring an additional 225,390 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SMAR. UBS Group restated a “neutral” rating and set a $56.50 price objective (down previously from $61.00) on shares of Smartsheet in a report on Thursday, September 26th. BMO Capital Markets restated a “market perform” rating and set a $56.50 price target (down previously from $59.00) on shares of Smartsheet in a research note on Wednesday, September 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $56.50 price objective on shares of Smartsheet in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating and set a $57.00 target price on shares of Smartsheet in a research report on Tuesday, September 24th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $56.50 price target (down previously from $63.00) on shares of Smartsheet in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $55.82.

Insider Buying and Selling

In related news, CEO Mark Patrick Mader sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $51.78, for a total transaction of $1,035,600.00. Following the completion of the transaction, the chief executive officer now owns 588,762 shares of the company’s stock, valued at approximately $30,486,096.36. The trade was a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jolene Lau Marshall sold 3,571 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.59, for a total transaction of $180,656.89. Following the sale, the insider now directly owns 13,529 shares in the company, valued at $684,432.11. This trade represents a 20.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,989 shares of company stock valued at $2,068,874. Company insiders own 4.52% of the company’s stock.

Smartsheet Stock Down 0.0 %

Shares of SMAR stock opened at $55.85 on Friday. The company has a 50 day moving average of $54.92 and a 200-day moving average of $47.84. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55. The firm has a market cap of $7.76 billion, a P/E ratio of -180.16 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last issued its earnings results on Thursday, September 5th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.15. The firm had revenue of $276.41 million during the quarter, compared to analyst estimates of $274.23 million. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. During the same quarter last year, the business earned ($0.23) earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities analysts expect that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet declared that its board has authorized a stock repurchase program on Thursday, September 5th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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.