Mondrian Capital Management LLC Acquires New Stake in Smartsheet Inc (NYSE:SMAR)

Mondrian Capital Management LLC acquired a new stake in Smartsheet Inc (NYSE:SMAR) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 65,000 shares of the company’s stock, valued at approximately $3,146,000. Mondrian Capital Management LLC owned approximately 0.06% of Smartsheet at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. First Trust Advisors LP raised its holdings in shares of Smartsheet by 0.4% in the 1st quarter. First Trust Advisors LP now owns 86,589 shares of the company’s stock valued at $3,532,000 after purchasing an additional 318 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Smartsheet by 240.2% in the 1st 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. Envestnet Asset Management Inc. raised its holdings in shares of Smartsheet by 11.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 6,716 shares of the company’s stock valued at $325,000 after purchasing an additional 710 shares during the period. Optimum Investment Advisors bought a new stake in shares of Smartsheet in the 1st quarter valued at about $41,000. Finally, Geode Capital Management LLC grew its stake in Smartsheet by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 104,097 shares of the company’s stock valued at $2,587,000 after buying an additional 1,523 shares during the last quarter. 56.24% of the stock is currently owned by institutional investors and hedge funds.

In other news, major shareholder Venture Fund L. P. Madrona III sold 5,175,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $43.50, for a total transaction of $225,112,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kara Hamilton sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $41.82, for a total transaction of $313,650.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,832,589 shares of company stock worth $473,052,550. Company insiders own 24.73% of the company’s stock.

SMAR traded up $2.83 on Friday, reaching $49.16. The company had a trading volume of 47,057 shares, compared to its average volume of 1,115,923. Smartsheet Inc has a fifty-two week low of $20.34 and a fifty-two week high of $55.79. The stock has a market cap of $5.07 billion, a P/E ratio of -78.91 and a beta of 2.00. The company’s fifty day moving average is $51.18 and its 200 day moving average is $43.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 1.63.

Smartsheet (NYSE:SMAR) last announced its earnings results on Wednesday, June 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.15. Smartsheet had a negative net margin of 30.04% and a negative return on equity of 34.42%. The firm had revenue of $56.19 million for the quarter, compared to analyst estimates of $54.65 million. During the same quarter in the prior year, the business posted ($0.12) EPS. The business’s revenue was up 54.7% compared to the same quarter last year. On average, sell-side analysts expect that Smartsheet Inc will post -0.94 EPS for the current year.

A number of research analysts recently commented on the stock. Wedbush assumed coverage on shares of Smartsheet in a research note on Thursday, August 1st. They issued an “outperform” rating and a $62.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target (up previously from $45.00) on shares of Smartsheet in a research note on Thursday, July 11th. Stephens reiterated a “buy” rating and issued a $55.00 price target on shares of Smartsheet in a research note on Tuesday, April 23rd. Finally, Zacks Investment Research lowered shares of Smartsheet from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Smartsheet currently has a consensus rating of “Buy” and a consensus price target of $53.17.

About Smartsheet

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.

Featured Story: What is required to own or exchange cryptocurrency?

Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

Receive News & Ratings for Smartsheet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smartsheet and related companies with MarketBeat.com's FREE daily email newsletter.