Barclays PLC Has $29.75 Million Stock Holdings in Smartsheet Inc (NYSE:SMAR)

Barclays PLC increased its stake in Smartsheet Inc (NYSE:SMAR - Free Report) by 197.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 537,408 shares of the company's stock after acquiring an additional 356,624 shares during the period. Barclays PLC owned approximately 0.39% of Smartsheet worth $29,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SMAR. Eminence Capital LP lifted its holdings in Smartsheet by 9.2% in the 2nd quarter. Eminence Capital LP now owns 4,251,328 shares of the company's stock valued at $187,399,000 after acquiring an additional 358,988 shares during the last quarter. State Street Corp raised its holdings in shares of Smartsheet by 6.2% in the 3rd quarter. State Street Corp now owns 2,492,949 shares of the company's stock worth $138,010,000 after purchasing an additional 146,353 shares in the last quarter. RGM Capital LLC lifted its stake in Smartsheet by 7.6% during the second quarter. RGM Capital LLC now owns 2,223,763 shares of the company's stock valued at $98,023,000 after purchasing an additional 156,817 shares during the last quarter. Marshall Wace LLP boosted its holdings in Smartsheet by 40.9% during the second quarter. Marshall Wace LLP now owns 1,835,994 shares of the company's stock worth $80,931,000 after buying an additional 533,278 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in Smartsheet by 188.0% in the second quarter. AQR Capital Management LLC now owns 1,349,639 shares of the company's stock worth $58,844,000 after buying an additional 881,004 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SMAR shares. Wolfe Research reaffirmed a "peer perform" rating on shares of Smartsheet in a research report on Wednesday, September 25th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $56.50 price objective (down from $60.00) on shares of Smartsheet in a research note on Wednesday, September 25th. DA Davidson reissued a "neutral" rating and issued a $56.50 target price (up from $55.00) on shares of Smartsheet in a research report on Tuesday, September 24th. William Blair restated a "market perform" rating on shares of Smartsheet in a report on Wednesday, September 25th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $56.50 price objective (down previously from $61.00) on shares of Smartsheet in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Smartsheet has an average rating of "Hold" and a consensus price target of $55.82.

Insider Activity

In other Smartsheet news, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $56.05, for a total value of $280,250.00. Following the completion of the sale, the chief executive officer now directly owns 578,762 shares of the company's stock, valued at $32,439,610.10. This represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jolene Lau Marshall sold 3,205 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $55.92, for a total transaction of $179,223.60. Following the transaction, the insider now owns 18,695 shares in the company, valued at approximately $1,045,424.40. The trade was a 14.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,623 shares of company stock valued at $2,067,441 over the last 90 days. 4.52% of the stock is currently owned by company insiders.

Smartsheet Stock Performance

Shares of NYSE SMAR traded up $0.03 during mid-day trading on Friday, reaching $56.02. 2,472,569 shares of the company traded hands, compared to its average volume of 2,219,605. The company's fifty day moving average is $55.99 and its two-hundred day moving average is $50.05. Smartsheet Inc has a fifty-two week low of $35.52 and a fifty-two week high of $56.55. The stock has a market cap of $7.78 billion, a PE ratio of -933.67, a price-to-earnings-growth ratio of 82.27 and a beta of 0.71.

Smartsheet declared that its Board of Directors has approved a share repurchase plan on Thursday, September 5th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Smartsheet Company 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.