Raymond James Financial Services Advisors Inc. acquired a new position in shares of Smartsheet Inc (NYSE:SMAR) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 33,084 shares of the company’s stock, valued at approximately $1,349,000.
Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its holdings in shares of Smartsheet by 240.2% in the first quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock worth $27,000 after acquiring an additional 466 shares during the last quarter. Optimum Investment Advisors bought a new position in Smartsheet in the 1st quarter valued at approximately $41,000. Caz Investments LP raised its holdings in Smartsheet by 100.0% in the 4th quarter. Caz Investments LP now owns 1,200 shares of the company’s stock valued at $30,000 after buying an additional 600 shares during the last quarter. Neuburgh Advisers LLC raised its holdings in Smartsheet by 90.9% in the 4th quarter. Neuburgh Advisers LLC now owns 1,386 shares of the company’s stock valued at $34,000 after buying an additional 660 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in Smartsheet in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 56.63% of the company’s stock.
SMAR has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Smartsheet from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Friday, March 22nd. Needham & Company LLC initiated coverage on shares of Smartsheet in a report on Thursday, April 11th. They set a “buy” rating and a $45.00 price target for the company. Morgan Stanley raised their price target on shares of Smartsheet from $34.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Oppenheimer initiated coverage on shares of Smartsheet in a report on Thursday, April 4th. They set an “outperform” rating and a $50.00 price target for the company. Finally, Royal Bank of Canada raised their price target on shares of Smartsheet to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $51.00.
Shares of SMAR stock traded up $0.70 during trading hours on Friday, hitting $48.40. 8,726,790 shares of the company were exchanged, compared to its average volume of 1,597,598. The company’s 50 day simple moving average is $44.07. Smartsheet Inc has a fifty-two week low of $20.34 and a fifty-two week high of $50.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of -78.06 and a beta of 2.17.
Smartsheet (NYSE:SMAR) last posted its quarterly earnings results on Wednesday, June 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.15. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 34.42%. The business had revenue of $56.19 million during the quarter, compared to the consensus estimate of $54.65 million. During the same quarter last year, the firm posted ($0.12) EPS. Smartsheet’s revenue was up 54.7% compared to the same quarter last year. On average, analysts anticipate that Smartsheet Inc will post -0.97 earnings per share for the current fiscal year.
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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