Avior Wealth Management LLC Raises Position in Smartsheet Inc (NYSE:SMAR)

Avior Wealth Management LLC raised its stake in Smartsheet Inc (NYSE:SMAR) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,928 shares of the company’s stock after purchasing an additional 441 shares during the quarter. Avior Wealth Management LLC’s holdings in Smartsheet were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SMAR. Treasurer of the State of North Carolina increased its position in shares of Smartsheet by 0.5% during the third 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 last quarter. Delphia USA Inc. increased its position in shares of Smartsheet by 4.0% during the first quarter. Delphia USA Inc. now owns 7,260 shares of the company’s stock valued at $347,000 after acquiring an additional 281 shares during the last quarter. Cornercap Investment Counsel Inc. increased its position in shares of Smartsheet by 1.3% during the fourth 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 last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Smartsheet by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,396 shares of the company’s stock valued at $2,968,000 after acquiring an additional 343 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Smartsheet by 1.0% in the third quarter. Royal Bank of Canada now owns 37,005 shares of the company’s stock worth $1,272,000 after buying an additional 364 shares during the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SMAR has been the subject of a number of recent research reports. Canaccord Genuity Group decreased their target price on Smartsheet from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, March 18th. JPMorgan Chase & Co. decreased their target price on Smartsheet from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Morgan Stanley decreased their target price on Smartsheet from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Bank of America initiated coverage on Smartsheet in a research report on Monday, February 26th. They issued an “underperform” rating and a $45.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $57.00 target price on shares of Smartsheet in a research report on Friday, March 15th. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.75.

Smartsheet Price Performance

NYSE:SMAR opened at $37.42 on Friday. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $52.81. The stock has a fifty day moving average of $40.62 and a 200 day moving average of $42.69.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $256.95 million during the quarter, compared to analyst estimates of $254.99 million. Equities analysts predict that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Smartsheet news, insider Jolene Lau Marshall sold 2,247 shares of Smartsheet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $45.03, for a total transaction of $101,182.41. Following the completion of the sale, the insider now owns 12,129 shares of the company’s stock, valued at $546,168.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CRO Michael Arntz sold 7,572 shares of Smartsheet 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 owns 7,148 shares in the company, valued at $320,301.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jolene Lau Marshall sold 2,247 shares of Smartsheet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $45.03, for a total value of $101,182.41. Following the completion of the transaction, the insider now owns 12,129 shares in the company, valued at approximately $546,168.87. The disclosure for this sale can be found here. Insiders sold a total of 33,387 shares of company stock valued at $1,355,207 over the last 90 days. Insiders own 4.71% of the company’s stock.

Smartsheet 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.