Harbor Capital Advisors Inc. Has $197,000 Stock Holdings in Smartsheet Inc (NYSE:SMAR)

Harbor Capital Advisors Inc. decreased its position in shares of Smartsheet Inc (NYSE:SMAR - Free Report) by 94.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,558 shares of the company's stock after selling 65,631 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Smartsheet were worth $197,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Raleigh Capital Management Inc. purchased a new stake in shares of Smartsheet during the 3rd quarter worth $31,000. International Assets Investment Management LLC purchased a new stake in shares of Smartsheet during the second quarter valued at about $25,000. Waldron Private Wealth LLC bought a new stake in shares of Smartsheet in the 3rd quarter valued at about $33,000. Versant Capital Management Inc purchased a new position in shares of Smartsheet in the 2nd quarter worth approximately $31,000. Finally, Farther Finance Advisors LLC grew its position in shares of Smartsheet by 123.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 721 shares of the company's stock worth $40,000 after buying an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SMAR shares. Guggenheim raised their target price on shares of Smartsheet from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Friday, September 6th. Citigroup reissued a "neutral" rating and issued a $56.50 price objective (down previously from $63.00) on shares of Smartsheet in a research report on Friday, September 27th. William Blair reaffirmed a "market perform" rating on shares of Smartsheet in a research report on Wednesday, September 25th. Royal Bank of Canada reissued a "sector perform" rating and issued a $56.50 price target on shares of Smartsheet in a report on Thursday, October 24th. Finally, Morgan Stanley boosted their price target on Smartsheet from $55.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $55.82.

Smartsheet Stock Up 0.1 %

SMAR stock traded up $0.03 during midday trading on Friday, hitting $55.99. The stock had a trading volume of 722,553 shares, compared to its average volume of 2,174,637. The company's 50-day moving average price is $53.95 and its 200 day moving average price is $47.04. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55.

Smartsheet (NYSE:SMAR - Get Free Report) last posted its earnings results on Thursday, September 5th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.15. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. The business had revenue of $276.41 million for the quarter, compared to analysts' expectations of $274.23 million. During the same period in the previous year, the company posted ($0.23) earnings per share. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, sell-side analysts expect that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet announced that its Board of Directors has approved a stock buyback plan on Thursday, September 5th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Jolene Lau Marshall sold 3,741 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $48.18, for a total value of $180,241.38. Following the completion of the sale, the insider now directly owns 17,100 shares of the company's stock, valued at approximately $823,878. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Smartsheet news, insider Jolene Lau Marshall sold 3,741 shares of the firm's stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $48.18, for a total transaction of $180,241.38. Following the transaction, the insider now directly owns 17,100 shares in the company, valued at $823,878. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Patrick Mader sold 20,000 shares of Smartsheet stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $51.78, for a total transaction of $1,035,600.00. Following the completion of the transaction, the chief executive officer now owns 588,762 shares in the company, valued at $30,486,096.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,730 shares of company stock valued at $2,249,116. Company insiders own 4.52% of the company's stock.

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.