Quadrature Capital Ltd Buys 15,643 Shares of Smartsheet Inc (NYSE:SMAR)

Quadrature Capital Ltd increased its stake in shares of Smartsheet Inc (NYSE:SMAR) by 85.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 33,992 shares of the company’s stock after acquiring an additional 15,643 shares during the period. Quadrature Capital Ltd’s holdings in Smartsheet were worth $1,309,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Smartsheet by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 13,809,208 shares of the company’s stock valued at $531,655,000 after acquiring an additional 225,390 shares during the period. Dorsal Capital Management LP lifted its holdings in Smartsheet by 4.0% during the 4th quarter. Dorsal Capital Management LP now owns 3,225,000 shares of the company’s stock valued at $154,220,000 after purchasing an additional 125,000 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of Smartsheet by 9.0% during the fourth quarter. Westfield Capital Management Co. LP now owns 2,706,943 shares of the company’s stock worth $129,446,000 after purchasing an additional 224,513 shares during the period. Coronation Fund Managers Ltd. lifted its holdings in Smartsheet by 44.2% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,550,203 shares of the company’s stock worth $59,683,000 after purchasing an additional 474,898 shares during the last quarter. Finally, Norges Bank bought a new stake in Smartsheet in the 4th quarter valued at $68,879,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SMAR has been the subject of a number of research reports. Barclays lifted their target price on Smartsheet from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. Wells Fargo & Company boosted their price objective on shares of Smartsheet from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, June 6th. Guggenheim reaffirmed a “buy” rating and set a $56.00 target price on shares of Smartsheet in a report on Tuesday, June 25th. Royal Bank of Canada lifted their price target on shares of Smartsheet from $36.00 to $43.00 and gave the company a “sector perform” rating in a research report on Thursday, June 6th. Finally, BMO Capital Markets increased their price target on Smartsheet from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Smartsheet Stock Up 2.7 %

SMAR traded up $1.27 during midday trading on Friday, hitting $48.40. 1,346,295 shares of the company were exchanged, compared to its average volume of 1,277,224. The firm has a market capitalization of $6.70 billion, a P/E ratio of -78.06 and a beta of 0.74. The firm’s 50 day moving average price is $42.86 and its 200-day moving average price is $42.08. Smartsheet Inc has a 1-year low of $35.52 and a 1-year high of $49.42.

Smartsheet (NYSE:SMAR) last announced its earnings results on Wednesday, June 5th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. The business had revenue of $262.98 million for the quarter, compared to analysts’ expectations of $258.06 million. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. On average, sell-side analysts predict that Smartsheet Inc will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Pete Godbole sold 7,244 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $41.22, for a total transaction of $298,597.68. Following the sale, the chief financial officer now owns 30,786 shares in the company, valued at approximately $1,268,998.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Smartsheet news, insider Jolene Lau Marshall sold 3,994 shares of Smartsheet stock in a transaction on Friday, July 5th. The shares were sold at an average price of $43.11, for a total value of $172,181.34. Following the completion of the sale, the insider now directly owns 16,567 shares of the company’s stock, valued at $714,203.37. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Pete Godbole sold 7,244 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $41.22, for a total value of $298,597.68. Following the sale, the chief financial officer now owns 30,786 shares of the company’s stock, valued at approximately $1,268,998.92. The disclosure for this sale can be found here. Insiders sold 34,390 shares of company stock valued at $1,484,631 over the last quarter. Insiders own 4.52% of the company’s stock.

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.