Smartsheet Inc (NYSE:SMAR) Holdings Decreased by Brighton Jones LLC

Brighton Jones LLC reduced its holdings in Smartsheet Inc (NYSE:SMAR) by 37.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,277 shares of the company’s stock after selling 8,428 shares during the period. Brighton Jones LLC’s holdings in Smartsheet were worth $683,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Treasurer of the State of North Carolina increased its holdings in Smartsheet by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 55,099 shares of the company’s stock worth $2,229,000 after buying an additional 280 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in shares of Smartsheet by 1.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 22,860 shares of the company’s stock valued at $1,093,000 after purchasing an additional 285 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Smartsheet by 5.9% in the fourth quarter. Avior Wealth Management LLC now owns 7,928 shares of the company’s stock worth $379,000 after purchasing an additional 441 shares in the last quarter. Xponance Inc. boosted its holdings in Smartsheet by 3.9% in the third quarter. Xponance Inc. now owns 18,082 shares of the company’s stock worth $732,000 after purchasing an additional 684 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Smartsheet during the fourth quarter worth $33,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Smartsheet news, 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 value of $219,268.14. Following the transaction, the chief operating officer now directly owns 67,801 shares of the company’s stock, valued at $2,591,354.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Smartsheet news, COO Stephen Robert Branstetter sold 5,737 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $38.22, for a total transaction of $219,268.14. Following the transaction, the chief operating officer now owns 67,801 shares in the company, valued at $2,591,354.22. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Michael Arntz sold 7,702 shares of the company’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 completion of the sale, 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. Insiders sold a total of 23,568 shares of company stock worth $914,723 over the last three months. 4.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SMAR. Citigroup upgraded Smartsheet from a “neutral” rating to a “buy” rating and upped their price target for the stock from $56.00 to $63.00 in a research note on Thursday, January 11th. Canaccord Genuity Group lowered their target price on shares of Smartsheet from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Bank of America initiated coverage on Smartsheet in a report on Monday, February 26th. They set an “underperform” rating and a $45.00 price target for the company. Barclays lowered their price objective on shares of Smartsheet from $50.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, March 15th. Finally, DA Davidson dropped their target price on shares of Smartsheet from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.75.

Smartsheet Stock Performance

Shares of SMAR stock opened at $38.50 on Thursday. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $52.81. The stock’s fifty day moving average is $39.42 and its 200-day moving average is $42.48.

Smartsheet (NYSE:SMAR) last announced 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. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. The company had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. As a group, analysts predict that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

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.