Levin Capital Strategies L.P. Buys 1,255 Shares of Smartsheet Inc (NYSE:SMAR)

Levin Capital Strategies L.P. grew its stake in shares of Smartsheet Inc (NYSE:SMAR) by 15.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,625 shares of the company’s stock after acquiring an additional 1,255 shares during the period. Levin Capital Strategies L.P.’s holdings in Smartsheet were worth $460,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Smartsheet during the fourth quarter valued at about $33,000. Allworth Financial LP increased its position in shares of Smartsheet by 2,503.4% in the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after purchasing an additional 726 shares during the last quarter. Castleview Partners LLC bought a new position in shares of Smartsheet in the third quarter worth approximately $39,000. DekaBank Deutsche Girozentrale bought a new position in shares of Smartsheet in the third quarter worth approximately $105,000. Finally, Vinva Investment Management Ltd bought a new position in shares of Smartsheet in the third quarter worth approximately $131,000. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Smartsheet

In other news, CFO Pete Godbole sold 10,129 shares of Smartsheet stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the transaction, the chief financial officer now 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 SEC, which is available through the SEC website. In other news, CFO Pete Godbole sold 10,129 shares of Smartsheet stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the transaction, the chief financial officer now 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 SEC, which is available through the SEC website. Also, COO Stephen Robert Branstetter sold 5,737 shares of Smartsheet stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $38.22, for a total value of $219,268.14. Following the completion of the transaction, the chief operating officer now directly owns 67,801 shares of the company’s stock, valued at approximately $2,591,354.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,568 shares of company stock valued at $914,723. 4.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SMAR shares. Morgan Stanley decreased their price objective on shares of Smartsheet from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Wells Fargo & Company decreased their price objective on shares of Smartsheet from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Bank of America began coverage on shares of Smartsheet in a research report on Monday, February 26th. They issued an “underperform” rating and a $45.00 price objective on the stock. Canaccord Genuity Group cut their target price on Smartsheet from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Finally, UBS Group cut their target price on Smartsheet from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 15th. One 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.75.

Smartsheet Trading Up 0.4 %

Smartsheet stock traded up $0.17 on Friday, hitting $38.56. 986,972 shares of the stock traded hands, compared to its average volume of 1,530,936. The firm has a market cap of $5.30 billion, a P/E ratio of -48.83 and a beta of 0.73. The business’s fifty day simple moving average is $39.34 and its 200 day simple moving average is $42.45. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $52.81.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.17. The business had revenue of $256.95 million during the quarter, compared to analyst estimates of $254.99 million. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. As a group, analysts predict that Smartsheet Inc will post -0.43 earnings per share 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.