Smartsheet Inc (NYSE:SMAR) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in Smartsheet Inc (NYSE:SMAR) by 29.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,150 shares of the company’s stock after selling 1,700 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Smartsheet were worth $200,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Capital World Investors grew its position in shares of Smartsheet by 11.2% in the first quarter. Capital World Investors now owns 15,316,599 shares of the company’s stock valued at $839,084,000 after purchasing an additional 1,542,891 shares during the period. Norges Bank purchased a new stake in shares of Smartsheet in the fourth quarter valued at $52,292,000. Goldman Sachs Group Inc. grew its position in shares of Smartsheet by 81.6% in the second quarter. Goldman Sachs Group Inc. now owns 2,808,651 shares of the company’s stock valued at $88,276,000 after purchasing an additional 1,262,177 shares during the period. RGM Capital LLC purchased a new stake in shares of Smartsheet in the third quarter valued at $50,705,000. Finally, Eminence Capital LP grew its position in shares of 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 during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SMAR shares. UBS Group lowered their price objective on Smartsheet from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Canaccord Genuity Group lowered their price target on Smartsheet from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Jefferies Financial Group lowered their price target on Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Royal Bank of Canada decreased their target price on Smartsheet from $48.00 to $36.00 and set a “sector perform” rating for the company in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. decreased their target price on Smartsheet from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.75.

Insider Buying and Selling

In other Smartsheet news, CFO Pete Godbole sold 10,129 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total transaction of $391,688.43. Following the sale, the chief financial officer now owns 44,346 shares in the company, valued at $1,714,859.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jolene Lau Marshall sold 2,247 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $45.03, for a total transaction of $101,182.41. Following the completion of the transaction, the insider now directly owns 12,129 shares of the company’s stock, valued at $546,168.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pete Godbole sold 10,129 shares of the company’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 value of $391,688.43. Following the transaction, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at $1,714,859.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,387 shares of company stock worth $1,355,207. 4.71% of the stock is currently owned by corporate insiders.

Smartsheet Stock Performance

NYSE:SMAR opened at $37.42 on Friday. Smartsheet Inc has a one year low of $35.52 and a one year high of $52.81. The business’s 50-day simple moving average is $40.62 and its 200 day simple moving average is $42.69. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of -47.37 and a beta of 0.73.

Smartsheet (NYSE:SMAR) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.17. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. The business had revenue of $256.95 million for the quarter, compared to analysts’ expectations of $254.99 million. On average, equities research analysts predict that Smartsheet Inc will post -0.43 EPS for the current year.

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.