Smartsheet Inc (NYSE:SMAR) Shares Purchased by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP grew its position in shares of Smartsheet Inc (NYSE:SMAR) by 9.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,706,943 shares of the company’s stock after purchasing an additional 224,513 shares during the quarter. Smartsheet accounts for 0.8% of Westfield Capital Management Co. LP’s portfolio, making the stock its 26th largest position. Westfield Capital Management Co. LP owned about 1.99% of Smartsheet worth $129,446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Smartsheet by 31.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,612 shares of the company’s stock worth $389,000 after purchasing an additional 2,276 shares during the period. Principal Financial Group Inc. grew its position in Smartsheet by 8.2% during the third quarter. Principal Financial Group Inc. now owns 15,550 shares of the company’s stock worth $629,000 after buying an additional 1,180 shares in the last quarter. California Public Employees Retirement System boosted its stake in Smartsheet by 2.4% during the third quarter. California Public Employees Retirement System now owns 230,767 shares of the company’s stock worth $9,337,000 after buying an additional 5,347 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Smartsheet by 2.2% during the 3rd quarter. Arizona State Retirement System now owns 36,140 shares of the company’s stock valued at $1,462,000 after acquiring an additional 777 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Smartsheet by 21.5% during the 3rd quarter. Barclays PLC now owns 96,194 shares of the company’s stock worth $3,891,000 after buying an additional 16,993 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Smartsheet

In other news, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $39.44, for a total transaction of $303,766.88. Following the transaction, the executive now owns 12,718 shares in the company, valued at $501,597.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CRO Michael Arntz sold 7,702 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $39.44, for a total transaction of $303,766.88. Following the completion of the transaction, the executive now directly owns 12,718 shares in the company, valued at $501,597.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stephen Robert Branstetter sold 5,737 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $38.22, for a total value of $219,268.14. Following the completion of the sale, the chief operating officer now owns 67,801 shares in the company, valued at $2,591,354.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,770 shares of company stock worth $1,132,791. 4.52% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SMAR shares. UBS Group cut their price target on Smartsheet from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Wells Fargo & Company reduced their price objective on shares of Smartsheet from $55.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Jefferies Financial Group decreased their target price on shares of Smartsheet from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Oppenheimer dropped their price objective on Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Finally, KeyCorp assumed coverage on shares of Smartsheet in a research note on Thursday, March 21st. They set a “sector weight” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Smartsheet currently has an average rating of “Moderate Buy” and a consensus price target of $49.75.

Smartsheet Stock Down 2.6 %

Shares of NYSE:SMAR traded down $1.05 during trading on Friday, hitting $39.68. 884,705 shares of the company were exchanged, compared to its average volume of 1,464,069. The company has a market capitalization of $5.45 billion, a P/E ratio of -50.23 and a beta of 0.73. Smartsheet Inc has a 1-year low of $35.52 and a 1-year high of $52.81. The business’s 50 day moving average is $38.98 and its 200-day moving average is $42.46.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $254.99 million. As a group, sell-side analysts anticipate that Smartsheet Inc will post -0.43 earnings per share for the current year.

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.