AlpInvest Partners B.V. Grows Stake in Smartsheet Inc (NYSE:SMAR)

AlpInvest Partners B.V. grew its position in shares of Smartsheet Inc (NYSE:SMAR) by 1,199.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 264,316 shares of the company’s stock after acquiring an additional 243,983 shares during the period. Smartsheet comprises about 14.6% of AlpInvest Partners B.V.’s holdings, making the stock its largest holding. AlpInvest Partners B.V. owned about 0.25% of Smartsheet worth $10,781,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Whale Rock Capital Management LLC increased its stake in shares of Smartsheet by 320.6% during the fourth quarter. Whale Rock Capital Management LLC now owns 2,687,999 shares of the company’s stock worth $66,824,000 after purchasing an additional 2,048,846 shares in the last quarter. CI Investments Inc. bought a new stake in shares of Smartsheet during the 4th quarter valued at $40,607,000. TimesSquare Capital Management LLC bought a new stake in shares of Smartsheet during the 1st quarter worth $22,129,000. Westfield Capital Management Co. LP bought a new stake in shares of Smartsheet during the 4th quarter worth $12,106,000. Finally, Massachusetts Institute of Technology bought a new stake in shares of Smartsheet during the 4th quarter worth $8,923,000. Hedge funds and other institutional investors own 56.63% of the company’s stock.

NYSE:SMAR traded up $1.12 during mid-day trading on Monday, reaching $49.52. The stock had a trading volume of 1,801,008 shares, compared to its average volume of 1,600,671. The company has a market cap of $5.16 billion, a PE ratio of -79.87 and a beta of 2.02. 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 company has a 50 day moving average of $44.52. Smartsheet Inc has a fifty-two week low of $20.34 and a fifty-two week high of $50.64.

Smartsheet (NYSE:SMAR) last released its earnings results on Wednesday, June 5th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.15. Smartsheet had a negative return on equity of 34.42% and a negative net margin of 30.04%. The firm had revenue of $56.19 million during the quarter, compared to the consensus estimate of $54.65 million. During the same period in the prior year, the company posted ($0.12) EPS. The company’s revenue was up 54.7% compared to the same quarter last year. Research analysts predict that Smartsheet Inc will post -0.97 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on SMAR shares. Oppenheimer started coverage on Smartsheet in a research report on Thursday, April 4th. They issued an “outperform” rating and a $50.00 price target for the company. Royal Bank of Canada lifted their price target on shares of Smartsheet to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Morgan Stanley lifted 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. Jefferies Financial Group lifted their price target on shares of Smartsheet from $38.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Smartsheet from $33.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $51.00.

In other news, major shareholder Insight Holdings Group, Llc sold 371,513 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $40.31, for a total value of $14,975,689.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eugene Farrell sold 10,000 shares of Smartsheet stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. The disclosure for this sale can be found here. Insiders sold 11,313,309 shares of company stock worth $490,796,801 in the last 90 days. 24.73% of the stock is currently owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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