Versor Investments LP Takes Position in Smartsheet Inc (NYSE:SMAR)

Versor Investments LP bought a new position in Smartsheet Inc (NYSE:SMAR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 107,531 shares of the company's stock, valued at approximately $5,953,000. Smartsheet makes up approximately 0.9% of Versor Investments LP's portfolio, making the stock its 6th biggest holding. Versor Investments LP owned 0.08% of Smartsheet at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Smartsheet by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 13,809,208 shares of the company's stock worth $531,655,000 after acquiring an additional 225,390 shares in the last quarter. Eminence Capital LP increased its holdings in shares of Smartsheet by 9.2% in the 2nd quarter. Eminence Capital LP now owns 4,251,328 shares of the company's stock worth $187,399,000 after buying an additional 358,988 shares during the last quarter. RGM Capital LLC raised its position in shares of Smartsheet by 7.6% during the 2nd quarter. RGM Capital LLC now owns 2,223,763 shares of the company's stock valued at $98,023,000 after buying an additional 156,817 shares in the last quarter. Marshall Wace LLP lifted its position in Smartsheet by 40.9% in the second quarter. Marshall Wace LLP now owns 1,835,994 shares of the company's stock worth $80,931,000 after buying an additional 533,278 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake 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 purchasing an additional 881,004 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Buying and Selling

In other news, CEO Mark Patrick Mader sold 20,000 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $51.78, for a total value of $1,035,600.00. Following the completion of the sale, the chief executive officer now owns 588,762 shares in the company, valued at $30,486,096.36. This 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. In other Smartsheet news, insider Jolene Lau Marshall sold 3,741 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $48.18, for a total value of $180,241.38. Following the transaction, the insider now directly owns 17,100 shares in the company, valued at $823,878. The trade was 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 this hyperlink. Also, CEO Mark Patrick Mader sold 20,000 shares of the business's stock in a transaction dated 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 directly owns 588,762 shares of the company's stock, valued at approximately $30,486,096.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,730 shares of company stock worth $2,249,116 over the last ninety days. 4.52% of the stock is owned by insiders.

Smartsheet Price Performance

Shares of SMAR stock traded down $0.11 during midday trading on Monday, reaching $55.91. 5,120,068 shares of the company traded hands, compared to its average volume of 2,190,408. Smartsheet Inc has a 1-year low of $35.52 and a 1-year high of $56.55. The firm has a market cap of $7.77 billion, a PE ratio of -180.71 and a beta of 0.74. The firm's 50 day simple moving average is $54.24 and its two-hundred day simple moving average is $47.35.

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

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SMAR shares. Guggenheim lowered shares of Smartsheet from a "buy" rating to a "neutral" rating in a report on Monday. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $56.50 target price on shares of Smartsheet in a research report on Thursday, October 24th. Canaccord Genuity Group restated a "hold" rating and set a $56.50 target price (down previously from $60.00) on shares of Smartsheet in a report on Wednesday, September 25th. Canaccord Genuity Group downgraded Smartsheet from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 25th. Finally, Morgan Stanley boosted their price objective on shares of Smartsheet from $55.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $55.82.

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.