UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 25,487 Shares of Smartsheet Inc (NYSE:SMAR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in Smartsheet Inc (NYSE:SMAR - Free Report) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 279,465 shares of the company's stock after selling 25,487 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.20% of Smartsheet worth $15,471,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Smartsheet by 188.0% during the 2nd 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 period. Citigroup Inc. boosted its holdings in Smartsheet by 2,767.1% in the 3rd quarter. Citigroup Inc. now owns 823,501 shares of the company's stock valued at $45,589,000 after purchasing an additional 794,779 shares during the period. Engaged Capital LLC bought a new stake in Smartsheet in the 2nd quarter valued at $29,600,000. Marshall Wace LLP boosted its holdings in Smartsheet by 40.9% in the 2nd quarter. Marshall Wace LLP now owns 1,835,994 shares of the company's stock valued at $80,931,000 after purchasing an additional 533,278 shares during the period. Finally, Alpine Associates Management Inc. bought a new stake in Smartsheet in the 3rd quarter valued at $28,029,000. 90.01% of the stock is currently owned by institutional investors.

Insider Activity at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 3,571 shares of Smartsheet stock in a transaction on Friday, September 13th. The shares were sold at an average price of $50.59, for a total transaction of $180,656.89. Following the transaction, the insider now directly owns 13,529 shares of the company's stock, valued at $684,432.11. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stephen Robert Branstetter sold 1,847 shares of Smartsheet stock in a transaction on Monday, September 16th. The stock was sold at an average price of $53.00, for a total transaction of $97,891.00. Following the transaction, the chief operating officer now directly owns 64,215 shares in the company, valued at $3,403,395. This represents a 2.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,194 shares of company stock valued at $2,248,098. 4.52% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SMAR shares. Canaccord Genuity Group reiterated 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. Jefferies Financial Group restated a "hold" rating and issued a $56.50 price objective (down previously from $60.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Needham & Company LLC restated a "hold" rating on shares of Smartsheet in a research report on Friday. Royal Bank of Canada restated a "sector perform" rating and issued a $56.50 price objective on shares of Smartsheet in a research report on Thursday, October 24th. Finally, Barclays raised their target price on shares of Smartsheet from $50.00 to $56.50 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Smartsheet presently has a consensus rating of "Hold" and an average price target of $55.82.

Smartsheet Price Performance

Shares of NYSE:SMAR traded down $0.05 during mid-day trading on Friday, hitting $56.07. The company had a trading volume of 2,220,134 shares, compared to its average volume of 2,360,816. The firm has a fifty day moving average price of $55.93 and a 200 day moving average price of $49.57. The company has a market capitalization of $7.79 billion, a PE ratio of -934.50 and a beta of 0.71. Smartsheet Inc has a one year low of $35.52 and a one year high of $56.55.

Smartsheet (NYSE:SMAR - Get Free Report) last released its quarterly earnings data 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. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. The company had revenue of $276.41 million during the quarter, compared to analyst estimates of $274.23 million. During the same quarter in the previous year, the business posted ($0.23) EPS. Smartsheet's revenue for the quarter was up 17.3% compared to the same quarter last year. Research analysts expect that Smartsheet Inc will post -0.05 earnings per share for the current fiscal year.

Smartsheet announced that its Board of Directors has initiated a share 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 repurchase 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 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.