BNP Paribas Arbitrage SA Decreases Position in Smartsheet Inc (NYSE:SMAR)

BNP Paribas Arbitrage SA lessened its holdings in Smartsheet Inc (NYSE:SMAR) by 58.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 9,486 shares of the company’s stock after selling 13,302 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Smartsheet were worth $606,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new stake in shares of Smartsheet during the 4th quarter worth $33,000. Oder Investment Management LLC purchased a new stake in shares of Smartsheet during the 4th quarter worth $40,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Smartsheet during the 1st quarter worth $89,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Smartsheet by 40.0% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,100 shares of the company’s stock worth $134,000 after purchasing an additional 600 shares during the last quarter. Finally, Invictus RG purchased a new stake in shares of Smartsheet during the 4th quarter worth $146,000. 87.24% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on SMAR. BMO Capital Markets decreased their price objective on shares of Smartsheet from $86.00 to $83.00 and set an “outperform” rating for the company in a research report on Wednesday, March 17th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Smartsheet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 19th. Citigroup lifted their price target on shares of Smartsheet from $65.00 to $76.00 in a research note on Wednesday, March 17th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of Smartsheet from $65.00 to $76.00 in a research note on Thursday, March 18th. Finally, Wells Fargo & Company cut their price target on shares of Smartsheet from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 3rd. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $76.75.

In related news, insider Paul Porrini sold 30,000 shares of the business’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $66.07, for a total transaction of $1,982,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Michael Arntz sold 9,000 shares of the business’s stock in a transaction dated Wednesday, March 24th. The stock was sold at an average price of $66.80, for a total transaction of $601,200.00. Following the sale, the executive now directly owns 24,519 shares in the company, valued at approximately $1,637,869.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,394 shares of company stock worth $13,617,501. Company insiders own 6.07% of the company’s stock.

Shares of Smartsheet stock opened at $63.99 on Friday. Smartsheet Inc has a 52-week low of $40.21 and a 52-week high of $85.43. The business’s 50-day moving average price is $60.20. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of -68.07 and a beta of 1.40.

Smartsheet (NYSE:SMAR) last issued its quarterly earnings results on Tuesday, June 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.05. Smartsheet had a negative net margin of 29.83% and a negative return on equity of 21.58%. The business had revenue of $117.08 million for the quarter, compared to analyst estimates of $114.76 million. During the same period in the previous year, the business posted ($0.11) earnings per share. The business’s revenue was up 37.0% compared to the same quarter last year. As a group, analysts expect that Smartsheet Inc will post -1.43 earnings per share for the current fiscal year.

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.

See Also: Stock Symbols Definition, Examples, Lookup

Want to see what other hedge funds are holding SMAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Smartsheet Inc (NYSE:SMAR).

Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

Receive News & Ratings for Smartsheet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smartsheet and related companies with MarketBeat.com's FREE daily email newsletter.