Rockefeller Capital Management L.P. Acquires 215,315 Shares of Smartsheet Inc (NYSE:SMAR)

Rockefeller Capital Management L.P. boosted its position in Smartsheet Inc (NYSE:SMAR - Free Report) by 235.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 306,784 shares of the company's stock after purchasing an additional 215,315 shares during the period. Rockefeller Capital Management L.P. owned about 0.22% of Smartsheet worth $16,984,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC boosted its holdings in shares of Smartsheet by 218.0% in the second quarter. CWM LLC now owns 19,869 shares of the company's stock worth $876,000 after acquiring an additional 13,621 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Smartsheet by 169.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 104,460 shares of the company's stock valued at $4,605,000 after acquiring an additional 65,670 shares in the last quarter. Bailard Inc. purchased a new stake in Smartsheet in the second quarter valued at approximately $3,435,000. Harbor Capital Advisors Inc. increased its holdings in shares of Smartsheet by 94.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 69,189 shares of the company's stock worth $3,050,000 after buying an additional 33,640 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in Smartsheet in the second quarter worth $3,274,000. 90.01% of the stock is owned by institutional investors.

Smartsheet Trading Up 0.2 %

NYSE SMAR traded up $0.13 during trading hours on Monday, hitting $56.08. 2,392,805 shares of the company's stock traded hands, compared to its average volume of 2,202,603. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $56.55. The firm has a market capitalization of $7.79 billion, a P/E ratio of -180.90 and a beta of 0.74. The business's fifty day moving average price is $55.88 and its two-hundred day moving average price is $49.23.

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

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

Insider Buying and Selling at Smartsheet

In related news, COO Stephen Robert Branstetter sold 1,847 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $53.00, for a total transaction of $97,891.00. Following the completion of the transaction, the chief operating officer now owns 64,215 shares in the company, valued at approximately $3,403,395. This represents a 2.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Patrick Mader sold 5,000 shares of Smartsheet stock in a transaction on Monday, November 4th. The shares were sold at an average price of $56.05, for a total transaction of $280,250.00. Following the completion of the sale, the chief executive officer now owns 578,762 shares in the company, valued at approximately $32,439,610.10. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,194 shares of company stock valued at $2,248,098 over the last ninety days. 4.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SMAR has been the topic of several recent research reports. William Blair reaffirmed a "market perform" rating on shares of Smartsheet in a report on Wednesday, September 25th. Barclays boosted their price target on Smartsheet from $50.00 to $56.50 and gave the company an "equal weight" rating in a report on Wednesday, September 25th. Citigroup reissued a "neutral" rating and set a $56.50 target price (down from $63.00) on shares of Smartsheet in a research note on Friday, September 27th. BMO Capital Markets reaffirmed a "market perform" rating and set a $56.50 target price (down previously from $59.00) on shares of Smartsheet in a research note on Wednesday, September 25th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Smartsheet in a research report on Wednesday, September 25th. One 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $55.82.

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.