Los Angeles Capital Management LLC Buys 619,242 Shares of Smartsheet Inc (NYSE:SMAR)

Los Angeles Capital Management LLC boosted its position in Smartsheet Inc (NYSE:SMAR) by 6,960.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 628,138 shares of the company’s stock after acquiring an additional 619,242 shares during the period. Los Angeles Capital Management LLC’s holdings in Smartsheet were worth $30,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Smartsheet by 256.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 152,522 shares of the company’s stock valued at $7,294,000 after acquiring an additional 109,786 shares during the last quarter. Moody National Bank Trust Division bought a new stake in shares of Smartsheet in the 4th quarter worth about $1,755,000. Lecap Asset Management Ltd. purchased a new stake in Smartsheet in the fourth quarter worth $1,287,000. Keenan Capital LLC boosted its holdings in shares of Smartsheet by 3.9% in the third quarter. Keenan Capital LLC now owns 1,200,433 shares of the company’s stock valued at $48,570,000 after purchasing an additional 45,000 shares during the period. Finally, Seven Eight Capital LP bought a new stake in shares of Smartsheet in the 3rd quarter valued at about $1,919,000. 90.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the transaction, the executive now owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Pete Godbole sold 10,129 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the sale, the chief financial officer now owns 44,346 shares in the company, valued at $1,714,859.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $39.44, for a total value of $303,766.88. Following the transaction, the executive now directly owns 12,718 shares in the company, valued at approximately $501,597.92. The disclosure for this sale can be found here. Insiders have sold a total of 23,568 shares of company stock valued at $914,723 over the last three months. Company insiders own 4.71% of the company’s stock.

Smartsheet Trading Up 0.5 %

NYSE:SMAR traded up $0.19 during mid-day trading on Friday, hitting $38.58. The stock had a trading volume of 986,975 shares, compared to its average volume of 1,456,981. The company has a 50 day simple moving average of $39.34 and a 200-day simple moving average of $42.45. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $52.81.

Smartsheet (NYSE:SMAR) last issued 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. The company 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%. Sell-side analysts anticipate that Smartsheet Inc will post -0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SMAR. DA Davidson cut their price objective on shares of Smartsheet from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Morgan Stanley lowered their price objective 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 started coverage on shares of Smartsheet in a research note on Monday, February 26th. They set an “underperform” rating and a $45.00 price target on the stock. UBS Group decreased their price objective on Smartsheet from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 price target on shares of Smartsheet in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.75.

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.