Larson Financial Group LLC Has $629,000 Position in Smartsheet Inc (NYSE:SMAR)

Larson Financial Group LLC lessened its position in Smartsheet Inc (NYSE:SMAR) by 2.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 13,161 shares of the company’s stock after selling 332 shares during the quarter. Larson Financial Group LLC’s holdings in Smartsheet were worth $629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SMAR. CWM LLC increased its holdings in Smartsheet by 14.7% in the 3rd quarter. CWM LLC now owns 3,044 shares of the company’s stock worth $123,000 after purchasing an additional 390 shares in the last quarter. SG Americas Securities LLC increased its holdings in Smartsheet by 170.8% in the 3rd quarter. SG Americas Securities LLC now owns 9,382 shares of the company’s stock worth $380,000 after purchasing an additional 5,917 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Smartsheet by 13.0% in the third quarter. Avior Wealth Management LLC now owns 7,487 shares of the company’s stock valued at $303,000 after buying an additional 864 shares during the period. Coronation Fund Managers Ltd. increased its stake in shares of Smartsheet by 19.9% in the third quarter. Coronation Fund Managers Ltd. now owns 436,581 shares of the company’s stock valued at $17,664,000 after buying an additional 72,311 shares during the period. Finally, Oak Thistle LLC acquired a new stake in shares of Smartsheet in the third quarter valued at about $321,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Smartsheet news, CRO Michael Arntz sold 7,572 shares of the stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jolene Lau Marshall sold 2,247 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $45.03, for a total value of $101,182.41. Following the transaction, the insider now owns 12,129 shares in the company, valued at $546,168.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Michael Arntz sold 7,572 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $44.81, for a total value of $339,301.32. Following the completion of the transaction, the executive now owns 7,148 shares in the company, valued at approximately $320,301.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,387 shares of company stock worth $1,355,207. Corporate insiders own 4.71% of the company’s stock.

Smartsheet Stock Performance

Shares of NYSE:SMAR opened at $38.29 on Wednesday. The business’s 50 day simple moving average is $40.09 and its two-hundred day simple moving average is $42.66. The firm has a market cap of $5.26 billion, a P/E ratio of -48.47 and a beta of 0.73. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $52.81.

Smartsheet (NYSE:SMAR) last announced 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. The business had revenue of $256.95 million for the quarter, compared to analyst estimates of $254.99 million. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. On average, equities analysts forecast that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SMAR. BMO Capital Markets decreased their price target on Smartsheet from $48.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Bank of America began coverage on Smartsheet in a research note on Monday, February 26th. They issued an “underperform” rating and a $45.00 price target for the company. KeyCorp began coverage on Smartsheet in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. Morgan Stanley decreased their price target on Smartsheet from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Finally, Citigroup raised Smartsheet from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $63.00 in a research note on Thursday, January 11th. 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 company’s stock. According to data from MarketBeat.com, Smartsheet presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.75.

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.