Xponance Inc. Reduces Stock Position in Smartsheet Inc (NYSE:SMAR)

Xponance Inc. lowered its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,460 shares of the company’s stock after selling 622 shares during the quarter. Xponance Inc.’s holdings in Smartsheet were worth $835,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Treasurer of the State of North Carolina boosted its holdings in Smartsheet by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 55,099 shares of the company’s stock valued at $2,229,000 after acquiring an additional 280 shares during the period. Cornercap Investment Counsel Inc. boosted its holdings in Smartsheet by 1.3% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 22,860 shares of the company’s stock valued at $1,093,000 after acquiring an additional 285 shares during the period. CWM LLC boosted its holdings in Smartsheet by 14.7% during the 3rd quarter. CWM LLC now owns 3,044 shares of the company’s stock valued at $123,000 after acquiring an additional 390 shares during the period. Avior Wealth Management LLC boosted its holdings in Smartsheet by 5.9% during the 4th quarter. Avior Wealth Management LLC now owns 7,928 shares of the company’s stock valued at $379,000 after acquiring an additional 441 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Smartsheet during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Smartsheet Price Performance

SMAR opened at $38.08 on Friday. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $52.81. The stock has a fifty day moving average price of $39.80 and a 200-day moving average price of $42.60.

Smartsheet (NYSE:SMAR) last announced its earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 company had revenue of $256.95 million for the quarter, compared to analyst estimates of $254.99 million. Analysts expect that Smartsheet Inc will post -0.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group dropped their price objective on Smartsheet from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 15th. Royal Bank of Canada lowered their target price on Smartsheet from $48.00 to $36.00 and set a “sector perform” rating for the company in a report on Friday, March 15th. Barclays lowered their target price on Smartsheet from $50.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 target price on shares of Smartsheet in a report on Friday, March 15th. Finally, Bank of America began coverage on Smartsheet in a report on Monday, February 26th. They issued an “underperform” rating and a $45.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.75.

Insider Activity at Smartsheet

In related news, COO Stephen Robert Branstetter sold 5,737 shares of the company’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 directly owns 67,801 shares of the company’s stock, valued at approximately $2,591,354.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CRO Michael Arntz sold 7,572 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $44.81, for a total value of $339,301.32. Following the transaction, the executive now directly owns 7,148 shares of the company’s stock, valued at $320,301.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen Robert Branstetter sold 5,737 shares of the stock in a transaction dated Wednesday, March 27th. The shares were 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 in the company, valued at $2,591,354.22. The disclosure for this sale can be found here. Insiders have sold 33,387 shares of company stock valued at $1,355,207 in the last ninety days. Corporate insiders own 4.71% of the company’s stock.

About Smartsheet

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.