New York State Common Retirement Fund Has $45.64 Million Stock Position in Smartsheet Inc (NYSE:SMAR)

New York State Common Retirement Fund lowered its position in Smartsheet Inc (NYSE:SMAR - Free Report) by 29.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 824,360 shares of the company's stock after selling 339,419 shares during the quarter. New York State Common Retirement Fund owned approximately 0.59% of Smartsheet worth $45,637,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Smartsheet in the 2nd quarter valued at approximately $25,000. Versant Capital Management Inc bought a new stake in Smartsheet during the second quarter worth approximately $31,000. Raleigh Capital Management Inc. bought a new stake in Smartsheet during the third quarter worth approximately $31,000. Waldron Private Wealth LLC bought a new stake in Smartsheet during the third quarter worth approximately $33,000. Finally, Plato Investment Management Ltd bought a new stake in Smartsheet during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insiders Place Their Bets

In other Smartsheet news, insider Jolene Lau Marshall sold 3,741 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $48.18, for a total transaction of $180,241.38. Following the completion of the transaction, the insider now directly owns 17,100 shares in the company, valued at $823,878. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Stephen Robert Branstetter sold 1,847 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $53.00, for a total value of $97,891.00. Following the completion of the sale, the chief operating officer now directly owns 64,215 shares in the company, valued at approximately $3,403,395. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jolene Lau Marshall sold 3,741 shares of the firm's stock in a transaction 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 owns 17,100 shares of the company's stock, valued at approximately $823,878. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,730 shares of company stock worth $1,968,866 over the last three months. 4.52% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SMAR has been the subject of a number of recent analyst reports. Truist Financial reaffirmed a "hold" rating and set a $56.50 target price (down previously from $60.00) on shares of Smartsheet in a research report on Wednesday, September 25th. Morgan Stanley upped their target price on Smartsheet from $55.00 to $57.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Barclays upped their target price on Smartsheet from $50.00 to $56.50 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. DA Davidson reaffirmed a "neutral" rating and set a $56.50 target price (up previously from $55.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Finally, Wolfe Research reissued a "peer perform" rating on shares of Smartsheet in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $55.82.

Smartsheet Trading Down 0.3 %

SMAR stock traded down $0.17 during midday trading on Friday, hitting $56.25. The stock had a trading volume of 4,133,065 shares, compared to its average volume of 2,775,288. The firm has a market capitalization of $7.82 billion, a price-to-earnings ratio of -181.45 and a beta of 0.74. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $56.55. The stock has a 50-day simple moving average of $53.55 and a 200 day simple moving average of $46.71.

Smartsheet (NYSE:SMAR - Get Free Report) last issued its earnings results on Thursday, September 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.29 by $0.15. The firm had revenue of $276.41 million during the quarter, compared to analysts' expectations of $274.23 million. Smartsheet had a negative return on equity of 4.29% and a negative net margin of 4.07%. Smartsheet's quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business earned ($0.23) earnings per share. On average, equities analysts forecast that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet announced that its Board of Directors has authorized a share buyback plan on Thursday, September 5th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

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.