Larson Financial Group LLC Sells 332 Shares of Smartsheet Inc (NYSE:SMAR)

Larson Financial Group LLC reduced its position in shares of Smartsheet Inc (NYSE:SMAR) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,161 shares of the company’s stock after selling 332 shares during the period. Larson Financial Group LLC’s holdings in Smartsheet were worth $629,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SMAR. McGlone Suttner Wealth Management Inc. bought a new stake in Smartsheet in the fourth quarter worth about $33,000. Allworth Financial LP raised its position in Smartsheet by 2,503.4% in the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock worth $36,000 after acquiring an additional 726 shares during the period. Castleview Partners LLC bought a new stake in Smartsheet in the third quarter worth about $39,000. DekaBank Deutsche Girozentrale bought a new stake in Smartsheet in the third quarter worth about $105,000. Finally, CWM LLC raised its position in Smartsheet by 14.7% in the third quarter. CWM LLC now owns 3,044 shares of the company’s stock worth $123,000 after acquiring an additional 390 shares during the period. 90.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SMAR has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Smartsheet from $55.00 to $47.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Bank of America initiated coverage on shares of Smartsheet in a research note on Monday, February 26th. They issued an “underperform” rating and a $45.00 target price for the company. Royal Bank of Canada reduced their target price on shares of Smartsheet from $48.00 to $36.00 and set a “sector perform” rating for the company in a research note on Friday, March 15th. DA Davidson reduced their target price on shares of Smartsheet from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Finally, Canaccord Genuity Group reduced their target price on shares of Smartsheet from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Smartsheet presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.75.

Smartsheet Trading Up 1.1 %

Shares of NYSE:SMAR opened at $38.29 on Wednesday. The company has a 50 day moving average of $40.09 and a 200 day moving average of $42.66. The stock has a market cap of $5.26 billion, a P/E ratio of -48.47 and a beta of 0.73. Smartsheet Inc has a 12 month low of $35.52 and a 12 month high of $52.81.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.17. The company had revenue of $256.95 million during the quarter, compared to analysts’ expectations of $254.99 million. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. On average, equities analysts forecast that Smartsheet Inc will post -0.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,247 shares of Smartsheet stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $45.03, for a total transaction of $101,182.41. Following the completion of the sale, the insider now directly owns 12,129 shares in the company, valued at $546,168.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CRO Michael Arntz sold 7,572 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $44.81, for a total value of $339,301.32. Following the completion of the sale, the executive now directly owns 7,148 shares in the company, valued at approximately $320,301.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jolene Lau Marshall sold 2,247 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $45.03, for a total transaction of $101,182.41. Following the completion of the sale, the insider now owns 12,129 shares of the company’s stock, valued at $546,168.87. The disclosure for this sale can be found here. Insiders sold a total of 33,387 shares of company stock worth $1,355,207 over the last three months. 4.71% of the stock is owned by insiders.

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.