Artisan Partners Limited Partnership Has $25.07 Million Stock Holdings in Smartsheet Inc (NYSE:SMAR)

Artisan Partners Limited Partnership grew its stake in Smartsheet Inc (NYSE:SMAR - Free Report) by 34.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 524,236 shares of the company's stock after purchasing an additional 133,153 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.38% of Smartsheet worth $25,069,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new position in Smartsheet during the fourth quarter worth about $33,000. Allworth Financial LP boosted its position in Smartsheet by 2,503.4% during 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 last quarter. DekaBank Deutsche Girozentrale acquired a new position in Smartsheet during the third quarter worth about $105,000. Vinva Investment Management Ltd acquired a new position in Smartsheet during the third quarter worth about $131,000. Finally, M&T Bank Corp acquired a new position in Smartsheet during the fourth quarter worth about $204,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Analyst Ratings Changes

SMAR has been the topic of several recent analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $57.00 target price on shares of Smartsheet in a report on Friday, March 15th. Royal Bank of Canada reduced their price target on shares of Smartsheet from $48.00 to $36.00 and set a "sector perform" rating on the stock in a research note on Friday, March 15th. Canaccord Genuity Group reduced their price target on shares of Smartsheet from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, March 18th. Oppenheimer reduced their price target on shares of Smartsheet from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Friday, March 15th. Finally, DA Davidson reduced their price target on shares of Smartsheet from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.75.

Smartsheet Stock Performance

Shares of NYSE:SMAR traded down $2.17 during trading hours on Thursday, reaching $37.08. The stock had a trading volume of 2,243,722 shares, compared to its average volume of 1,459,775. Smartsheet Inc has a 1 year low of $35.52 and a 1 year high of $52.81. The firm's 50 day moving average is $38.97 and its 200-day moving average is $42.43. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of -46.94 and a beta of 0.73.

Smartsheet (NYSE:SMAR - Get Free Report) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.17. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. The company had revenue of $256.95 million for the quarter, compared to the consensus estimate of $254.99 million. Analysts forecast that Smartsheet Inc will post -0.43 EPS for the current year.

Insiders Place Their Bets

In other Smartsheet news, CFO Pete Godbole sold 10,129 shares of Smartsheet stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total transaction of $391,688.43. Following the transaction, the chief financial officer now owns 44,346 shares of the company's stock, valued at $1,714,859.82. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Pete Godbole sold 10,129 shares of the company's stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $38.67, for a total value of $391,688.43. Following the completion of the sale, the chief financial officer now directly owns 44,346 shares of the company's stock, valued at $1,714,859.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Michael Arntz sold 7,702 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $501,597.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,770 shares of company stock valued at $1,132,791. 4.52% of the stock is currently owned by insiders.

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.