Ironwood Investment Management LLC purchased a new stake in shares of Smartsheet Inc (NYSE:SMAR) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,759 shares of the company’s stock, valued at approximately $357,000.

Several other hedge funds have also recently added to or reduced their stakes in SMAR. BNP Paribas Arbitrage SA raised its position in Smartsheet by 240.2% in the first quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock valued at $27,000 after purchasing an additional 466 shares during the period. Caz Investments LP raised its position in Smartsheet by 100.0% in the fourth quarter. Caz Investments LP now owns 1,200 shares of the company’s stock valued at $30,000 after purchasing an additional 600 shares during the period. Neuburgh Advisers LLC raised its position in Smartsheet by 90.9% in the fourth quarter. Neuburgh Advisers LLC now owns 1,386 shares of the company’s stock valued at $34,000 after purchasing an additional 660 shares during the period. Oregon Public Employees Retirement Fund purchased a new stake in Smartsheet in the fourth quarter valued at approximately $36,000. Finally, Intellectus Partners LLC purchased a new stake in Smartsheet in the fourth quarter valued at approximately $37,000. 42.45% of the stock is currently owned by hedge funds and other institutional investors.

Smartsheet stock opened at $41.65 on Friday. Smartsheet Inc has a twelve month low of $20.16 and a twelve month high of $49.04. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.81 and a current ratio of 1.81. The firm has a market cap of $4.50 billion and a PE ratio of -67.18.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Tuesday, March 19th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.12. Smartsheet had a negative return on equity of 49.01% and a negative net margin of 30.32%. The business had revenue of $52.20 million for the quarter, compared to analyst estimates of $49.72 million. The business’s quarterly revenue was up 58.2% compared to the same quarter last year. Analysts predict that Smartsheet Inc will post -1 EPS for the current year.

SMAR has been the topic of a number of research analyst reports. Zacks Investment Research raised Smartsheet from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Friday, March 22nd. Needham & Company LLC initiated coverage on Smartsheet in a research report on Thursday, April 11th. They issued a “buy” rating and a $45.00 target price on the stock. Morgan Stanley boosted their target price on Smartsheet from $34.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Oppenheimer initiated coverage on Smartsheet in a research report on Thursday, April 4th. They issued an “outperform” rating and a $50.00 target price on the stock. Finally, Royal Bank of Canada boosted their target price on Smartsheet to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $51.18.

In other news, major shareholder Insight Holdings Group, Llc sold 371,513 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $40.31, for a total transaction of $14,975,689.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jennifer Ceran sold 100,000 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $42.63, for a total value of $4,263,000.00. The disclosure for this sale can be found here. Insiders have sold 954,576 shares of company stock worth $39,140,046 in the last ninety days. Corporate insiders own 24.73% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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