Smartsheet Inc (NYSE:SMAR) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC decreased its position in Smartsheet Inc (NYSE:SMARFree Report) by 23.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 78,927 shares of the company’s stock after selling 23,789 shares during the period. Neuberger Berman Group LLC owned about 0.06% of Smartsheet worth $3,774,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Regal Investment Advisors LLC purchased a new stake in shares of Smartsheet in the fourth quarter valued at $507,000. Optimus Prime Fund Management Co. Ltd. lifted its position in shares of Smartsheet by 24.4% in the fourth quarter. Optimus Prime Fund Management Co. Ltd. now owns 280,000 shares of the company’s stock valued at $13,390,000 after acquiring an additional 55,000 shares in the last quarter. Capital Fund Management S.A. lifted its position in shares of Smartsheet by 172.2% in the fourth quarter. Capital Fund Management S.A. now owns 119,991 shares of the company’s stock valued at $5,738,000 after acquiring an additional 75,904 shares in the last quarter. Dorsal Capital Management LP lifted its position in shares of Smartsheet by 4.0% in the fourth quarter. Dorsal Capital Management LP now owns 3,225,000 shares of the company’s stock valued at $154,220,000 after acquiring an additional 125,000 shares in the last quarter. Finally, Hel Ved Capital Management Ltd lifted its position in shares of Smartsheet by 488.4% in the fourth quarter. Hel Ved Capital Management Ltd now owns 57,572 shares of the company’s stock valued at $2,753,000 after acquiring an additional 47,787 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SMAR. Needham & Company LLC reiterated a “buy” rating and set a $57.00 target price on shares of Smartsheet in a research report on Thursday. BMO Capital Markets increased their target price on Smartsheet from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. reduced their target price on Smartsheet from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. UBS Group increased their target price on Smartsheet from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, KeyCorp began coverage on Smartsheet in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. 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. Based on data from MarketBeat, Smartsheet currently has a consensus rating of “Moderate Buy” and an average price target of $51.75.

View Our Latest Analysis on SMAR

Insiders Place Their Bets

In other Smartsheet news, CFO Pete Godbole sold 5,202 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $41.92, for a total transaction of $218,067.84. Following the transaction, the chief financial officer now owns 44,346 shares of the company’s stock, valued at approximately $1,858,984.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Smartsheet news, CFO Pete Godbole sold 5,202 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $41.92, for a total transaction of $218,067.84. Following the transaction, the chief financial officer now owns 44,346 shares of the company’s stock, valued at approximately $1,858,984.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Michael Arntz sold 7,702 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive now directly owns 12,718 shares in the company, valued at approximately $501,597.92. The disclosure for this sale can be found here. Insiders have sold a total of 28,770 shares of company stock valued at $1,132,791 in the last quarter. Insiders own 4.52% of the company’s stock.

Smartsheet Price Performance

Shares of SMAR stock traded down $0.57 during trading hours on Monday, reaching $43.72. The company had a trading volume of 929,418 shares, compared to its average volume of 1,550,354. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $49.42. The stock’s fifty day simple moving average is $39.10 and its 200 day simple moving average is $42.37.

Smartsheet (NYSE:SMARGet Free Report) last posted its earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.17. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. The business had revenue of $256.95 million during the quarter, compared to analyst estimates of $254.99 million. On average, equities analysts predict that Smartsheet Inc will post -0.25 earnings per share for the current fiscal 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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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