Great West Life Assurance Co. increased its holdings in Smartsheet Inc. (NYSE: SMAR) during the third quarter, as stated in the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 160,334 shares of the company’s stock at approximately $5,516,000, bringing the total amount spent by the investor to approximately $5,516,000. The Great West Life Insurance Company of Canada held 0.12% of Smartsheet at the end of the most recent quarter.
There have also been transactions that involved hedge funds and other institutional investors buying and selling corporate stock. These transactions have taken place. During Smartsheet’s second fiscal quarter, Lazard Asset Management LLC completed the purchase of an additional 44.7% of the company’s shares. After purchasing an additional 619 shares during the relevant period, Lazard Asset Management LLC now has 2,004 shares of the company’s stock, which is currently valued at $62,000. These shares were acquired during the period in question. During the second quarter of the fiscal year, Assetmark Inc. acquired an additional 9.3% stake in Smartsheet. As a result of Assetmark Inc.’s purchase of an additional 645 shares of the company’s stock during the most recent quarter, the company now has a total of 7,583 shares, which have a market value of $238,000, in its possession. During the second quarter, Xponance Inc. increased the proportion of ownership in Smartsheet by 4.6%. Xponance Inc. has acquired a direct ownership stake in 14,616 shares valued at $459,000. This was accomplished by purchasing an additional 646 shares during the most recent fiscal quarter to achieve the desired result. United Capital Financial Advisers LLC increased the amount of Smartsheet stock owned by 7.3% during the first three months of 2018. As a result of the purchase of 770 additional shares during the most recent quarter of the company’s fiscal year, United Capital Financial Advisers LLC now owns 11,270 shares of the company, which have a combined value of $617,00 (as of last reporting). Last but certainly not least, during the first quarter of 2018, PNC Financial Services Group Inc. increased the amount of Smartsheet stock owned by 8.1%, bringing the total to a total of 1.9%. After purchasing an additional 803 shares during the most recent quarter, PNC Financial Services Group Inc. now has 10,683 shares in the company. Based on the current market price, these shares are worth $585,000. The majority of the company’s stock is owned by various institutions (89.50%).
In other related news, on November 16, company insider Jolene Lau Marshall sold 6,001 shares of Smartsheet stock. The price of each share was determined to be an average of $31.45 when the shares were sold for a total of $188,731.45, which is the total amount received. As a result of the successful transaction completion, the insider now directly owns 12,501 of the company’s shares, which together have a value of $393,156.45. One can access a document that provides additional information on the transaction by going to the Securities and Exchange Commission (SEC) website. On December 14, the company’s Chief Financial Officer, Pete Godbole, sold 2,256 shares of the company’s stock, as reported in other recent business news. Because the shares were sold at an average price of $41.36, the total sale volume of stock came to 93,308.16 dollars’ worth. As a direct result of the transaction, the chief financial officer now owns 18,229 shares of the company, which have a value of approximately $753,951.44 each. If you follow the link, you will be taken to a document submitted to the SEC, which will provide you with additional information regarding the sale. Jolene Lau Marshall, an employee trading for her benefit on the company’s stock on November 16, 2018, sold 6,001 shares of the company’s stock. A total of $188,731.45 was received for the sale of the shares, equivalent to an average price of $31.45 per share. Because of the transaction, the company insider now owns 12,501 shares of the company’s stock. Based on the current stock price, these shares are estimated to be worth $393,156.45. Disclosures that are related to the sale might be found in this section of the website. Insiders of the company have sold 15,623 shares over the most recent three months, bringing in a total of $523,937 from the transaction. Presently, 58% of the total number of shares in the company are held by corporate insiders.
The most recent information on the status of SMAR has been made available to customers of several different brokerage firms. Citigroup increased its price objective for Smartsheet from its previous level of $30.00 to $37.00 in a research note published on Friday, December 2. The price target that BMO Capital Markets has set for Smartsheet has increased from $38.00 to $41.00, as stated in a research report published on Friday, December 2. On Thursday, October 13, KeyCorp started including discussions about Smartsheet as a topic of discussion in their research reports. They gave the stock the rating of “overweight” and concluded that a price target of $46 was an appropriate valuation. The price objective for Smartsheet was increased by the Royal Bank of Canada on Friday, December 2, in a research note. The new price objective is $36.00, compared to the previous price objective of $32.00. On Thursday, December 15, Barclays published a research report covering Smartsheet for the first time. They predicted that the share price would reach $45.00 and gave it an “equal weight” rating for investment potential. Twelve research analysts have assigned a buy rating to the company, while only four have assigned a hold rating to the stock. According to Bloomberg, the company has been given a rating of “Moderate Buy” overall, and the price of $47.17 is projected to be the point at which investors will agree on its value.
On Friday, the NYSE SMAR saw trading begin for $42.69 per share. This price was recorded as the opening price. Over the previous year, the stock price of Smartsheet, Inc. ranged from a low of $25.09 to a high of $66.74 at one point. The company’s moving average price over the past 200 days is $34.61, and the moving average price over the last 50 days is $36.66.
The company’s most recent quarterly earnings report was made public on December 1 by Smartsheet (NYSE: SMAR), which can be found here. The company announced earnings for the quarter of $0.30 per share, which was $0.21 more than expected, which was $0.51 per share on average. The actual revenue the company brought in during the quarter was $199.58 million, which is higher than the $193.66 million in revenue projected for the company during the quarter. The return on equity for the company was negative by a margin of 45.17%, and its net margin was negative by a margin of 31.75%. The projections of market analysts indicate that Smartsheet Inc. will experience a $1.66 per share loss during the current fiscal year.
The management and automation of collaborative projects are the responsibility of Smartsheet, Inc. The platform provides solutions that eliminate hurdles to data collection, such as spreadsheets with an easy-to-use interface and forms that aren’t difficult to modify. It does this by utilizing characteristics such as these. Specifically, the platform offers spreadsheets with an easy-to-use interface and forms that aren’t difficult to modify. John D. Smith, Maria Colacurcio, and W. Eric Browne were the first three people to establish the company as it is today.
