Smartsheet Inc (NYSE:SMAR) Shares Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lifted its stake in Smartsheet Inc (NYSE:SMAR) by 14.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,312 shares of the company’s stock after purchasing an additional 1,407 shares during the period. Loomis Sayles & Co. L P’s holdings in Smartsheet were worth $626,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its holdings in Smartsheet by 2.1% during the third quarter. Larson Financial Group LLC now owns 13,253 shares of the company’s stock worth $734,000 after purchasing an additional 277 shares during the last quarter. Cerity Partners LLC increased its position in shares of Smartsheet by 80.3% in the third quarter. Cerity Partners LLC now owns 59,534 shares of the company’s stock valued at $3,296,000 after buying an additional 26,509 shares in the last quarter. Citigroup Inc. raised its stake in shares of Smartsheet by 2,767.1% during the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company’s stock worth $45,589,000 after buying an additional 794,779 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Smartsheet by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,278,665 shares of the company’s stock worth $70,787,000 after buying an additional 20,643 shares during the last quarter. Finally, Landscape Capital Management L.L.C. boosted its position in shares of Smartsheet by 0.3% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 83,016 shares of the company’s stock worth $4,596,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Needham & Company LLC restated a “hold” rating and set a $57.00 target price on shares of Smartsheet in a report on Tuesday, September 24th. DA Davidson restated a “neutral” rating and set a $56.50 price objective (up from $55.00) on shares of Smartsheet in a research report on Tuesday, September 24th. William Blair reaffirmed a “market perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. Jefferies Financial Group reissued a “hold” rating and set a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Finally, Canaccord Genuity Group downgraded Smartsheet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $55.82.

Smartsheet Stock Performance

Smartsheet stock opened at $56.00 on Friday. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $56.55. The firm has a 50 day moving average price of $55.71 and a 200 day moving average price of $48.91. The company has a market cap of $7.78 billion, a price-to-earnings ratio of -180.65 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $274.23 million. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.23) EPS. Sell-side analysts predict that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet announced that its Board of Directors has approved a stock repurchase plan on Thursday, September 5th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Smartsheet

In other news, COO Stephen Robert Branstetter sold 1,847 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $53.00, for a total value 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 $3,403,395. This represents a 2.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jolene Lau Marshall sold 3,205 shares of Smartsheet stock in a transaction on Friday, November 15th. The shares were sold at an average price of $55.92, for a total transaction of $179,223.60. Following the transaction, the insider now owns 18,695 shares in the company, valued at $1,045,424.40. The trade was a 14.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,194 shares of company stock valued at $2,248,098. Company insiders own 4.52% of the company’s stock.

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.