Hodges Capital Management Inc. acquired a new stake in Smartsheet Inc (NYSE:SMAR) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 158,235 shares of the company’s stock, valued at approximately $4,946,000. Hodges Capital Management Inc. owned approximately 0.15% of Smartsheet at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in shares of Smartsheet during the 2nd quarter valued at $230,000. Russell Investments Group Ltd. bought a new position in shares of Smartsheet during the 2nd quarter valued at $275,000. Systematic Financial Management LP bought a new position in shares of Smartsheet during the 2nd quarter valued at $307,000. Cubist Systematic Strategies LLC bought a new position in shares of Smartsheet during the 2nd quarter valued at $316,000. Finally, Brighton Jones LLC bought a new position in shares of Smartsheet during the 2nd quarter valued at $440,000. 41.63% of the stock is currently owned by institutional investors and hedge funds.
NYSE:SMAR opened at $22.59 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.31 and a current ratio of 2.31. Smartsheet Inc has a one year low of $18.06 and a one year high of $33.98.
SMAR has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on Smartsheet to $33.00 and gave the company an “overweight” rating in a report on Wednesday, September 5th. Morgan Stanley reduced their price objective on Smartsheet from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 23rd. Zacks Investment Research lowered Smartsheet from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Canaccord Genuity upped their price objective on Smartsheet from $29.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Finally, Jefferies Financial Group upped their price objective on Smartsheet to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Eight research analysts have rated the stock with a buy rating, Smartsheet currently has an average rating of “Buy” and a consensus price target of $34.86.
Smartsheet Company Profile
Smartsheet Inc provides cloud-based platform for execution of work. It enables teams and organizations to plan, capture, manage, automate, and report on work. The company offers Smartdashboards that provides the status of work to align individuals, managers, and executives; Smartportals to easily locate and access from any device the resources available for a project without IT assistance; Smartcards to organize, share, and act on workflows; and Smartgrids to keep teams on task by easily tracking multiple moving parts.
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