Lisanti Capital Growth LLC Grows Position in Smartsheet Inc (NYSE:SMAR)

Lisanti Capital Growth LLC grew its stake in shares of Smartsheet Inc (NYSE:SMAR) by 197.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 75,040 shares of the company’s stock after buying an additional 49,810 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Smartsheet were worth $3,588,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Treasurer of the State of North Carolina lifted its stake in Smartsheet by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 55,099 shares of the company’s stock worth $2,229,000 after acquiring an additional 280 shares during the period. Cornercap Investment Counsel Inc. lifted its stake in Smartsheet by 1.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 22,860 shares of the company’s stock worth $1,093,000 after acquiring an additional 285 shares during the period. Avior Wealth Management LLC lifted its stake in Smartsheet by 5.9% in the fourth quarter. Avior Wealth Management LLC now owns 7,928 shares of the company’s stock worth $379,000 after acquiring an additional 441 shares during the period. Xponance Inc. lifted its stake in Smartsheet by 3.9% in the third quarter. Xponance Inc. now owns 18,082 shares of the company’s stock worth $732,000 after acquiring an additional 684 shares during the period. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Smartsheet during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Smartsheet Stock Up 1.8 %

NYSE:SMAR traded up $0.68 on Monday, hitting $39.26. The stock had a trading volume of 944,435 shares, compared to its average volume of 1,524,193. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of -49.70 and a beta of 0.73. The business’s 50-day simple moving average is $39.22 and its two-hundred day simple moving average is $42.38. Smartsheet Inc has a 52-week low of $35.52 and a 52-week high of $52.81.

Smartsheet (NYSE:SMAR) last announced its earnings results on Thursday, March 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.17. Smartsheet had a negative return on equity of 16.57% and a negative net margin of 10.92%. The business had revenue of $256.95 million for the quarter, compared to analysts’ expectations of $254.99 million. As a group, equities research analysts anticipate that Smartsheet Inc will post -0.43 EPS for the current year.

Insider Activity

In other news, CRO Michael Arntz sold 7,702 shares of Smartsheet stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $39.44, for a total transaction of $303,766.88. Following the transaction, the executive now directly owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CRO Michael Arntz sold 7,702 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $39.44, for a total value of $303,766.88. Following the transaction, the executive now directly owns 12,718 shares of the company’s stock, valued at approximately $501,597.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Pete Godbole sold 10,129 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the transaction, the chief financial officer now directly owns 44,346 shares in the company, valued at $1,714,859.82. The disclosure for this sale can be found here. Insiders have sold a total of 23,568 shares of company stock valued at $914,723 in the last ninety days. Corporate insiders own 4.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Canaccord Genuity Group lowered their price objective on Smartsheet from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Morgan Stanley lowered their price objective on Smartsheet from $56.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Wells Fargo & Company lowered their price objective on Smartsheet from $55.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Oppenheimer lowered their price objective on Smartsheet from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Finally, UBS Group reduced their price target on Smartsheet from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.75.

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.