New York State Common Retirement Fund Buys 36,161 Shares of Smartsheet Inc (NYSE:SMAR)

New York State Common Retirement Fund increased its holdings in Smartsheet Inc (NYSE:SMAR) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,190,423 shares of the company’s stock after buying an additional 36,161 shares during the period. New York State Common Retirement Fund’s holdings in Smartsheet were worth $56,926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. CWM LLC lifted its holdings in Smartsheet by 40.8% during the fourth quarter. CWM LLC now owns 4,287 shares of the company’s stock worth $205,000 after buying an additional 1,243 shares during the period. Institute for Wealth Management LLC. acquired a new position in shares of Smartsheet during the fourth quarter worth $210,000. Federated Hermes Inc. increased its position in shares of Smartsheet by 15.4% during the fourth quarter. Federated Hermes Inc. now owns 927,000 shares of the company’s stock worth $44,329,000 after purchasing an additional 123,429 shares in the last quarter. Prosperity Wealth Management Inc. acquired a new position in shares of Smartsheet during the fourth quarter worth $366,000. Finally, Avior Wealth Management LLC increased its position in shares of Smartsheet by 5.9% during the fourth quarter. Avior Wealth Management LLC now owns 7,928 shares of the company’s stock worth $379,000 after purchasing an additional 441 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SMAR. Oppenheimer reduced their price target on Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. 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. DA Davidson cut their target price on Smartsheet from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Citigroup raised Smartsheet from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $63.00 in a research report on Thursday, January 11th. Finally, Jefferies Financial Group cut their target price on Smartsheet from $57.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.75.

Smartsheet Stock Up 1.1 %

Shares of SMAR opened at $38.29 on Wednesday. The business’s 50-day moving average is $40.09 and its two-hundred day moving average is $42.66. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $52.81.

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

Insider Transactions at Smartsheet

In other news, CFO Pete Godbole sold 10,129 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $38.67, for a total transaction of $391,688.43. Following the sale, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $1,714,859.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Pete Godbole sold 10,129 shares of the firm’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $38.67, for a total value of $391,688.43. Following the transaction, the chief financial officer now directly owns 44,346 shares of the company’s stock, valued at approximately $1,714,859.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jolene Lau Marshall sold 2,247 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $45.03, for a total transaction of $101,182.41. Following the completion of the transaction, the insider now directly owns 12,129 shares in the company, valued at $546,168.87. The disclosure for this sale can be found here. Insiders have sold a total of 33,387 shares of company stock valued at $1,355,207 in the last ninety days. 4.71% of the stock is currently owned by corporate insiders.

Smartsheet Company 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.