Tokio Marine Asset Management Co. Ltd. Invests $7.83 Million in Smartsheet Inc (NYSE:SMAR)

Tokio Marine Asset Management Co. Ltd. acquired a new stake in Smartsheet Inc (NYSE:SMAR) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 141,400 shares of the company’s stock, valued at approximately $7,828,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Smartsheet by 1.7% in the first quarter. Vanguard Group Inc. now owns 13,809,208 shares of the company’s stock valued at $531,655,000 after purchasing an additional 225,390 shares during the last quarter. Eminence Capital LP raised its stake in Smartsheet by 9.2% in the 2nd quarter. Eminence Capital LP now owns 4,251,328 shares of the company’s stock worth $187,399,000 after acquiring an additional 358,988 shares during the last quarter. RGM Capital LLC lifted its position in Smartsheet by 7.6% during the 2nd quarter. RGM Capital LLC now owns 2,223,763 shares of the company’s stock worth $98,023,000 after acquiring an additional 156,817 shares during the period. Marshall Wace LLP increased its holdings in shares of Smartsheet by 40.9% in the second quarter. Marshall Wace LLP now owns 1,835,994 shares of the company’s stock valued at $80,931,000 after purchasing an additional 533,278 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Smartsheet by 188.0% during the second quarter. AQR Capital Management LLC now owns 1,349,639 shares of the company’s stock worth $58,844,000 after purchasing an additional 881,004 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Smartsheet news, CEO Mark Patrick Mader sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $56.05, for a total transaction of $280,250.00. Following the sale, the chief executive officer now directly owns 578,762 shares of the company’s stock, valued at $32,439,610.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Stephen Robert Branstetter sold 1,847 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $53.00, for a total transaction of $97,891.00. Following the completion of the sale, the chief operating officer now owns 64,215 shares of the company’s stock, valued at approximately $3,403,395. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Patrick Mader sold 5,000 shares of Smartsheet stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $56.05, for a total transaction of $280,250.00. Following the transaction, the chief executive officer now directly owns 578,762 shares in the company, valued at approximately $32,439,610.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,989 shares of company stock valued at $2,068,874. Corporate insiders own 4.52% of the company’s stock.

Smartsheet Stock Down 0.2 %

SMAR stock traded down $0.11 on Thursday, reaching $55.75. 275,413 shares of the company’s stock were exchanged, compared to its average volume of 2,197,476. The firm has a market cap of $7.75 billion, a PE ratio of -180.16 and a beta of 0.74. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $56.55. The stock has a fifty day moving average of $54.72 and a 200-day moving average of $47.66.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.15. Smartsheet had a negative return on equity of 4.29% and a negative net margin of 4.07%. The firm had revenue of $276.41 million during the quarter, compared to analysts’ expectations of $274.23 million. During the same period in the previous year, the firm posted ($0.23) earnings per share. Smartsheet’s revenue was up 17.3% on a year-over-year basis. On average, equities research analysts predict that Smartsheet Inc will post -0.05 EPS for the current fiscal year.

Smartsheet declared that its Board of Directors has approved a stock repurchase program on Thursday, September 5th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SMAR. Citigroup reaffirmed a “neutral” rating and issued a $56.50 price objective (down from $63.00) on shares of Smartsheet in a report on Friday, September 27th. Barclays raised their price target on shares of Smartsheet from $50.00 to $56.50 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. BMO Capital Markets reissued a “market perform” rating and set a $56.50 target price (down previously from $59.00) on shares of Smartsheet in a report on Wednesday, September 25th. Canaccord Genuity Group restated a “hold” rating and issued a $56.50 target price (down previously from $60.00) on shares of Smartsheet in a research report on Wednesday, September 25th. Finally, Canaccord Genuity Group cut Smartsheet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $55.82.

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.