Mackenzie Financial Corp Has $1.07 Million Holdings in Smartsheet Inc (NYSE:SMAR)

Mackenzie Financial Corp boosted its position in shares of Smartsheet Inc (NYSE:SMAR) by 137.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,438 shares of the company’s stock after buying an additional 12,992 shares during the quarter. Mackenzie Financial Corp’s holdings in Smartsheet were worth $1,073,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SMAR. McGlone Suttner Wealth Management Inc. bought a new position in Smartsheet in the fourth quarter valued at about $33,000. Allworth Financial LP lifted its holdings in Smartsheet by 2,503.4% in the fourth quarter. Allworth Financial LP now owns 755 shares of the company’s stock valued at $36,000 after buying an additional 726 shares during the period. Castleview Partners LLC acquired a new position in shares of Smartsheet in the 3rd quarter valued at $39,000. DekaBank Deutsche Girozentrale bought a new position in shares of Smartsheet in the 3rd quarter worth $105,000. Finally, CWM LLC grew its stake in shares of Smartsheet by 14.7% during the third quarter. CWM LLC now owns 3,044 shares of the company’s stock worth $123,000 after purchasing an additional 390 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Pete Godbole sold 10,129 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total value of $391,688.43. Following the sale, the chief financial officer now owns 44,346 shares in the company, valued at approximately $1,714,859.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Pete Godbole sold 10,129 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $38.67, for a total transaction of $391,688.43. Following the completion of the sale, the chief financial officer now owns 44,346 shares in the company, valued at $1,714,859.82. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Stephen Robert Branstetter sold 5,737 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $38.22, for a total value of $219,268.14. Following the transaction, the chief operating officer now owns 67,801 shares in the company, valued at approximately $2,591,354.22. The disclosure for this sale can be found here. Insiders sold a total of 33,387 shares of company stock valued at $1,355,207 over the last three months. Insiders own 4.71% of the company’s stock.

Smartsheet Trading Up 0.2 %

Shares of Smartsheet stock opened at $38.36 on Thursday. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $52.81. The business’s 50 day moving average is $39.95 and its 200-day moving average is $42.63.

Smartsheet (NYSE:SMAR) last announced its quarterly earnings data on Thursday, March 14th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.17. The company had revenue of $256.95 million during the quarter, compared to the consensus estimate of $254.99 million. Smartsheet had a negative net margin of 10.92% and a negative return on equity of 16.57%. On average, equities research analysts expect that Smartsheet Inc will post -0.43 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SMAR shares. Wells Fargo & Company decreased their target price on Smartsheet from $55.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Citigroup upgraded shares of Smartsheet from a “neutral” rating to a “buy” rating and increased their target price for the stock from $56.00 to $63.00 in a report on Thursday, January 11th. Royal Bank of Canada decreased their target price on Smartsheet from $48.00 to $36.00 and set a “sector perform” rating for the company in a research note on Friday, March 15th. DA Davidson lowered their target price on Smartsheet from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, March 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $57.00 price target on shares of Smartsheet in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $49.75.

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.