Smartsheet Inc (NYSE:SMAR) Holdings Raised by American Century Companies Inc.

American Century Companies Inc. boosted its stake in Smartsheet Inc (NYSE:SMAR) by 699.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,454 shares of the company’s stock after buying an additional 52,021 shares during the period. American Century Companies Inc.’s holdings in Smartsheet were worth $2,621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SMAR. International Assets Investment Management LLC acquired a new stake in shares of Smartsheet in the second quarter valued at $25,000. Banque Cantonale Vaudoise bought a new stake in Smartsheet in the first quarter worth about $29,000. Versant Capital Management Inc bought a new stake in Smartsheet in the second quarter worth about $31,000. Plato Investment Management Ltd acquired a new stake in Smartsheet in the 1st quarter valued at about $35,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Smartsheet by 37.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock valued at $39,000 after purchasing an additional 244 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Insider Activity at Smartsheet

In other news, insider Jolene Lau Marshall sold 3,994 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $43.11, for a total transaction of $172,181.34. Following the transaction, the insider now owns 16,567 shares in the company, valued at approximately $714,203.37. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Jolene Lau Marshall sold 3,994 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $43.11, for a total transaction of $172,181.34. Following the completion of the sale, the insider now owns 16,567 shares in the company, valued at approximately $714,203.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Stephen Robert Branstetter sold 2,004 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $48.00, for a total value of $96,192.00. Following the completion of the transaction, the chief operating officer now directly owns 61,791 shares in the company, valued at $2,965,968. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,157 shares of company stock valued at $1,762,763. 4.52% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on SMAR. Wolfe Research reiterated a “peer perform” rating on shares of Smartsheet in a report on Wednesday. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $57.00 price target on shares of Smartsheet in a report on Tuesday. Citigroup reissued a “neutral” rating and set a $56.50 price objective (down from $63.00) on shares of Smartsheet in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating and set a $57.00 target price on shares of Smartsheet in a research report on Tuesday. Finally, DA Davidson reaffirmed a “neutral” rating and set a $56.50 target price (up from $55.00) on shares of Smartsheet in a report on Tuesday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Smartsheet has a consensus rating of “Hold” and an average target price of $55.82.

Smartsheet Stock Up 0.0 %

Shares of NYSE:SMAR opened at $55.34 on Friday. The firm has a fifty day moving average of $49.32 and a two-hundred day moving average of $43.52. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $55.60. The firm has a market capitalization of $7.66 billion, a P/E ratio of -89.25 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm earned ($0.23) earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities research analysts expect that Smartsheet Inc will post -0.05 earnings per share for the current fiscal year.

Smartsheet announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 5th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are generally 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.