Hillsdale Investment Management Inc. Sells 300 Shares of Smartsheet Inc (NYSE:SMAR)

Hillsdale Investment Management Inc. decreased its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,950 shares of the company’s stock after selling 300 shares during the period. Hillsdale Investment Management Inc.’s holdings in Smartsheet were worth $537,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Edgestream Partners L.P. bought a new position in shares of Smartsheet in the 1st quarter worth approximately $5,033,000. Acadian Asset Management LLC raised its position in shares of Smartsheet by 15.9% in the 1st quarter. Acadian Asset Management LLC now owns 256,329 shares of the company’s stock worth $9,860,000 after acquiring an additional 35,238 shares in the last quarter. Vanguard Group Inc. raised 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 worth $531,655,000 after acquiring an additional 225,390 shares in the last quarter. M&G Plc bought a new position in Smartsheet during the 1st quarter valued at approximately $6,426,000. Finally, State Board of Administration of Florida Retirement System increased its position in Smartsheet by 5.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 128,873 shares of the company’s stock valued at $4,962,000 after buying an additional 6,260 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Smartsheet Trading Up 0.8 %

Smartsheet stock traded up $0.39 during mid-day trading on Tuesday, hitting $48.94. The stock had a trading volume of 797,925 shares, compared to its average volume of 1,528,366. The firm has a market capitalization of $6.77 billion, a P/E ratio of -78.32 and a beta of 0.74. The firm’s 50 day moving average is $42.36 and its 200 day moving average is $42.00. Smartsheet Inc has a one year low of $35.52 and a one year high of $49.42.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings results on Wednesday, June 5th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $262.98 million during the quarter, compared to analyst estimates of $258.06 million. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. As a group, equities research analysts forecast that Smartsheet Inc will post -0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SMAR shares. Barclays raised their price objective on Smartsheet from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th. Morgan Stanley increased their target price on Smartsheet from $51.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, June 6th. UBS Group increased their target price on Smartsheet from $54.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. BMO Capital Markets increased their target price on Smartsheet from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, June 6th. Finally, Guggenheim reiterated a “buy” rating and set a $56.00 target price on shares of Smartsheet in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, COO Stephen Robert Branstetter sold 2,004 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $48.00, for a total transaction of $96,192.00. Following the completion of the transaction, the chief operating officer now owns 61,791 shares in the company, valued at approximately $2,965,968. 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 2,004 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $48.00, for a total transaction of $96,192.00. Following the completion of the sale, the chief operating officer now directly owns 61,791 shares of the company’s stock, valued at approximately $2,965,968. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Pete Godbole sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $43.54, for a total value of $326,550.00. Following the sale, the chief financial officer now directly owns 36,846 shares of the company’s stock, valued at $1,604,274.84. The disclosure for this sale can be found here. Insiders sold 34,390 shares of company stock worth $1,484,631 in the last quarter. 4.52% of the stock is owned by corporate insiders.

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.