Smartsheet Inc (NYSE:SMAR) Stock Holdings Boosted by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lifted its stake in shares of Smartsheet Inc (NYSE:SMAR) by 235.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 306,784 shares of the company’s stock after acquiring an additional 215,315 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Smartsheet were worth $16,984,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC boosted its stake in shares of Smartsheet by 218.0% during the 2nd quarter. CWM LLC now owns 19,869 shares of the company’s stock worth $876,000 after acquiring an additional 13,621 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Smartsheet by 169.3% in the second quarter. Assenagon Asset Management S.A. now owns 104,460 shares of the company’s stock worth $4,605,000 after buying an additional 65,670 shares during the period. Bailard Inc. acquired a new stake in shares of Smartsheet in the second quarter worth $3,435,000. Harbor Capital Advisors Inc. boosted its position in shares of Smartsheet by 94.6% in the second quarter. Harbor Capital Advisors Inc. now owns 69,189 shares of the company’s stock worth $3,050,000 after buying an additional 33,640 shares during the period. Finally, Bank of Montreal Can acquired a new stake in shares of Smartsheet in the second quarter worth $3,274,000. 90.01% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Jolene Lau Marshall sold 3,571 shares of Smartsheet stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.59, for a total transaction of $180,656.89. Following the sale, the insider now directly owns 13,529 shares of the company’s stock, valued at $684,432.11. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Patrick Mader sold 20,000 shares of Smartsheet stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $51.78, for a total value of $1,035,600.00. Following the sale, the chief executive officer now directly owns 588,762 shares in the company, valued at approximately $30,486,096.36. This trade represents a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,194 shares of company stock valued at $2,248,098. 4.52% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on SMAR shares. Citigroup reaffirmed a “neutral” rating and issued a $56.50 target price (down previously from $63.00) on shares of Smartsheet in a research report on Friday, September 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.50 target price (down previously from $60.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Canaccord Genuity Group reiterated a “hold” rating and set a $56.50 price objective (down from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. Barclays increased their price objective on Smartsheet from $50.00 to $56.50 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $55.82.

Smartsheet Price Performance

NYSE SMAR opened at $55.95 on Monday. The firm has a market cap of $7.77 billion, a P/E ratio of -180.48 and a beta of 0.74. The stock’s 50-day moving average is $55.80 and its two-hundred day moving average is $49.13. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $56.55.

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

Smartsheet announced that its board has authorized a share repurchase program on Thursday, September 5th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.