Amundi Pioneer Asset Management Inc. cut its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 98.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,809 shares of the company’s stock after selling 1,408,580 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in Smartsheet were worth $1,373,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Huntington National Bank acquired a new position in shares of Smartsheet during the 4th quarter worth approximately $28,000. Bessemer Group Inc. acquired a new position in Smartsheet in the 4th quarter valued at $33,000. Oder Investment Management LLC acquired a new position in Smartsheet in the 4th quarter valued at $40,000. Exchange Traded Concepts LLC grew its holdings in Smartsheet by 1,020.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 672 shares of the company’s stock valued at $47,000 after buying an additional 612 shares in the last quarter. Finally, Invictus RG acquired a new position in Smartsheet in the 4th quarter valued at $146,000. 94.62% of the stock is currently owned by institutional investors and hedge funds.

In other Smartsheet news, CMO Anna Griffin sold 2,000 shares of the stock in a transaction dated Friday, February 12th. The stock was sold at an average price of $84.00, for a total value of $168,000.00. Following the completion of the transaction, the chief marketing officer now directly owns 6,880 shares in the company, valued at $577,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Michael Arntz sold 522 shares of the firm’s stock in a transaction dated Thursday, February 11th. The stock was sold at an average price of $80.00, for a total value of $41,760.00. Following the transaction, the executive now owns 16,520 shares of the company’s stock, valued at $1,321,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,516 shares of company stock valued at $21,790,161. 10.20% of the stock is owned by corporate insiders.

Shares of SMAR stock opened at $61.60 on Wednesday. Smartsheet Inc has a twelve month low of $40.21 and a twelve month high of $85.43. The company has a market cap of $7.64 billion, a P/E ratio of -64.84 and a beta of 1.52. The business has a fifty day simple moving average of $64.83 and a 200 day simple moving average of $64.71.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Monday, March 15th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. Smartsheet had a negative return on equity of 21.98% and a negative net margin of 32.32%. The business had revenue of $109.87 million during the quarter, compared to the consensus estimate of $102.69 million. During the same period in the prior year, the company earned ($0.13) EPS. Smartsheet’s revenue for the quarter was up 39.9% on a year-over-year basis. On average, analysts anticipate that Smartsheet Inc will post -1.06 EPS for the current year.

A number of brokerages have commented on SMAR. Citigroup upped their price objective on Smartsheet from $65.00 to $76.00 in a report on Wednesday, March 17th. KeyCorp upped their price objective on Smartsheet from $82.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday, March 23rd. Zacks Investment Research lowered Smartsheet from a “hold” rating to a “sell” rating in a report on Tuesday, March 23rd. BMO Capital Markets reduced their target price on Smartsheet from $86.00 to $83.00 and set an “outperform” rating on the stock in a report on Tuesday, March 23rd. Finally, Oppenheimer increased their target price on Smartsheet from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, January 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Smartsheet has a consensus rating of “Buy” and a consensus price target of $73.31.

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.

Further Reading: Buy-Side Analysts

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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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