Amalgamated Bank Sells 5,314 Shares of Smartsheet Inc (NYSE:SMAR)

Amalgamated Bank decreased its stake in shares of Smartsheet Inc (NYSE:SMARFree Report) by 16.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,394 shares of the company’s stock after selling 5,314 shares during the quarter. Amalgamated Bank’s holdings in Smartsheet were worth $1,262,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SMAR. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Smartsheet in the fourth quarter valued at $33,000. Allworth Financial LP raised its stake in shares of Smartsheet by 2,503.4% in the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock valued at $36,000 after acquiring an additional 726 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Smartsheet in the third quarter valued at $105,000. Vinva Investment Management Ltd purchased a new stake in shares of Smartsheet in the third quarter valued at $131,000. Finally, Cerity Partners LLC purchased a new stake in shares of Smartsheet in the fourth quarter valued at $205,000. Institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on SMAR shares. Bank of America started coverage on shares of Smartsheet in a research note on Monday, February 26th. They issued an “underperform” rating and a $45.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Smartsheet from $55.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Oppenheimer lowered their price target on shares of Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. KeyCorp started coverage on shares of Smartsheet in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $57.00 target price on shares of Smartsheet in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.75.

Check Out Our Latest Research Report on SMAR

Insider Buying and Selling at Smartsheet

In other Smartsheet news, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $39.44, for a total value of $303,766.88. Following the completion of the transaction, the executive now directly owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $39.44, for a total value of $303,766.88. Following the completion of the transaction, the executive now owns 12,718 shares in the company, valued at approximately $501,597.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Pete Godbole sold 10,129 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the sale, the chief financial officer now owns 44,346 shares of the company’s stock, valued at approximately $1,714,859.82. The disclosure for this sale can be found here. Insiders sold a total of 23,568 shares of company stock valued at $914,723 in the last three months. 4.52% of the stock is owned by corporate insiders.

Smartsheet Price Performance

NYSE:SMAR opened at $40.86 on Wednesday. The company’s 50-day moving average price is $38.91 and its 200-day moving average price is $42.36. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $52.81.

Smartsheet (NYSE:SMARGet Free Report) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.17. The firm had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. On average, research analysts expect that Smartsheet Inc will post -0.43 earnings per share for the current year.

Smartsheet Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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