New York State Common Retirement Fund Has $56.93 Million Position in Smartsheet Inc (NYSE:SMAR)

New York State Common Retirement Fund increased its holdings in shares of Smartsheet Inc (NYSE:SMAR) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,190,423 shares of the company’s stock after acquiring an additional 36,161 shares during the quarter. New York State Common Retirement Fund owned about 0.87% of Smartsheet worth $56,926,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. CWM LLC increased its holdings in shares of Smartsheet by 40.8% during the 4th quarter. CWM LLC now owns 4,287 shares of the company’s stock worth $205,000 after acquiring an additional 1,243 shares during the last quarter. Institute for Wealth Management LLC. acquired a new position in Smartsheet in the 4th quarter valued at $210,000. Federated Hermes Inc. grew its holdings in Smartsheet by 15.4% in the 4th quarter. Federated Hermes Inc. now owns 927,000 shares of the company’s stock valued at $44,329,000 after buying an additional 123,429 shares in the last quarter. Prosperity Wealth Management Inc. acquired a new position in Smartsheet in the 4th quarter valued at $366,000. Finally, Avior Wealth Management LLC grew its holdings in Smartsheet by 5.9% in the 4th quarter. Avior Wealth Management LLC now owns 7,928 shares of the company’s stock valued at $379,000 after buying an additional 441 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SMAR has been the topic of a number of research reports. Citigroup raised Smartsheet from a “neutral” rating to a “buy” rating and upped their price objective for the company from $56.00 to $63.00 in a report on Thursday, January 11th. Oppenheimer decreased their price objective on Smartsheet from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Jefferies Financial Group decreased their price objective on Smartsheet from $57.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, March 15th. BMO Capital Markets cut their target price on Smartsheet from $48.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Finally, DA Davidson cut their target price on Smartsheet from $65.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Smartsheet presently has an average rating of “Moderate Buy” and a consensus price target of $49.75.

Insider Buying and Selling at Smartsheet

In related news, insider Jolene Lau Marshall sold 2,247 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Stephen Robert Branstetter sold 5,737 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $38.22, for a total value of $219,268.14. Following the transaction, the chief operating officer now owns 67,801 shares in the company, valued at $2,591,354.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jolene Lau Marshall sold 2,247 shares of Smartsheet stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $45.03, for a total value of $101,182.41. Following the sale, the insider now owns 12,129 shares in the company, valued at $546,168.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,387 shares of company stock worth $1,355,207. 4.71% of the stock is currently owned by insiders.

Smartsheet Stock Performance

Shares of SMAR stock opened at $38.29 on Wednesday. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $52.81. The business has a fifty day simple moving average of $40.09 and a 200 day simple moving average of $42.66.

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

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.