Migdal Insurance & Financial Holdings Ltd. Has $200,000 Position in Smartsheet Inc (NYSE:SMAR)

Migdal Insurance & Financial Holdings Ltd. lessened its stake in Smartsheet Inc (NYSE:SMAR) by 29.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,150 shares of the company’s stock after selling 1,700 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Smartsheet were worth $200,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SMAR. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Smartsheet in the fourth quarter valued at about $33,000. Allworth Financial LP lifted its stake in Smartsheet by 2,503.4% during the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after purchasing an additional 726 shares during the period. Castleview Partners LLC bought a new position in Smartsheet during the third quarter worth about $39,000. DekaBank Deutsche Girozentrale bought a new position in Smartsheet during the third quarter worth about $105,000. Finally, Captrust Financial Advisors lifted its stake in Smartsheet by 202.7% during the second quarter. Captrust Financial Advisors now owns 3,530 shares of the company’s stock worth $111,000 after purchasing an additional 2,364 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other news, CRO Michael Arntz sold 7,572 shares of the business’s 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 sale, the executive now directly owns 7,148 shares in the company, valued at $320,301.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Jolene Lau Marshall sold 2,247 shares of the business’s 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 sale, the insider now directly owns 12,129 shares in the company, valued at $546,168.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Michael Arntz sold 7,572 shares of the business’s stock in a transaction dated 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 sale, the executive now owns 7,148 shares in the company, valued at $320,301.88. The disclosure for this sale can be found here. Insiders sold 33,387 shares of company stock valued at $1,355,207 in the last quarter. Company insiders own 4.71% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on SMAR. Bank of America initiated coverage on shares of Smartsheet in a research note on Monday, February 26th. They set an “underperform” rating and a $45.00 price target for the company. JPMorgan Chase & Co. cut their target price on shares of Smartsheet from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Needham & Company LLC reiterated a “buy” rating and issued a $57.00 target price on shares of Smartsheet in a research note on Friday, March 15th. Morgan Stanley cut their target price on shares of Smartsheet from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Finally, Barclays cut their target price on shares of Smartsheet from $50.00 to $40.00 and set an “equal weight” rating for the company in a research note on Friday, March 15th. One research 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. According to MarketBeat, Smartsheet currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.75.

Smartsheet Stock Performance

SMAR opened at $37.42 on Friday. The company has a fifty day moving average price of $40.62 and a two-hundred day moving average price of $42.69. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $52.81. The firm has a market capitalization of $5.14 billion, a PE ratio of -47.37 and a beta of 0.73.

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

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.