77,929 Shares in Smartsheet Inc (NYSE:SMAR) Purchased by Bailard Inc.

Bailard Inc. purchased a new position in Smartsheet Inc (NYSE:SMAR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 77,929 shares of the company's stock, valued at approximately $3,435,000. Bailard Inc. owned approximately 0.06% of Smartsheet at the end of the most recent quarter.

• Why Smartsheet Stock is an Undervalued Gem of an Investment

A number of other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Smartsheet by 14.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,467 shares of the company's stock worth $34,712,000 after purchasing an additional 97,829 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in Smartsheet during the 2nd quarter valued at about $74,000. Pallas Capital Advisors LLC purchased a new position in Smartsheet during the 2nd quarter valued at about $647,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in Smartsheet by 6,670.4% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,765 shares of the company's stock valued at $469,000 after acquiring an additional 10,606 shares in the last quarter. Finally, Washington Capital Management Inc. grew its stake in Smartsheet by 2.1% during the 2nd quarter. Washington Capital Management Inc. now owns 19,775 shares of the company's stock valued at $872,000 after acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Transactions at Smartsheet

In other news, COO Stephen Robert Branstetter sold 4,174 shares of the company's stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $43.91, for a total transaction of $183,280.34. Following the completion of the transaction, the chief operating officer now directly owns 68,067 shares in the company, valued at $2,988,821.97. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jolene Lau Marshall sold 3,741 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $48.18, for a total transaction of $180,241.38. Following the sale, the insider now directly owns 17,100 shares in the company, valued at $823,878. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Stephen Robert Branstetter sold 4,174 shares of the business's stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $43.91, for a total value of $183,280.34. Following the sale, the chief operating officer now owns 68,067 shares in the company, valued at $2,988,821.97. The disclosure for this sale can be found here. Insiders sold a total of 32,929 shares of company stock worth $1,446,805 over the last three months. 4.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

• 2 Earnings Dumpers Worth a Second Look

SMAR has been the topic of several research analyst reports. Morgan Stanley lifted their target price on Smartsheet from $53.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. Royal Bank of Canada lifted their target price on Smartsheet from $36.00 to $43.00 and gave the company a "sector perform" rating in a research note on Thursday, June 6th. Wells Fargo & Company lifted their target price on Smartsheet from $47.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, June 6th. UBS Group lifted their price target on Smartsheet from $54.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, June 6th. Finally, BMO Capital Markets lifted their price target on Smartsheet from $42.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $52.12.

View Our Latest Report on Smartsheet

Smartsheet Stock Performance

• Asana sold the rip. Is it time to buy the dip?

SMAR opened at $49.73 on Tuesday. The business has a 50 day moving average price of $45.80 and a 200 day moving average price of $42.25. Smartsheet Inc has a twelve month low of $35.52 and a twelve month high of $50.38. The firm has a market cap of $6.88 billion, a P/E ratio of -80.21 and a beta of 0.74.

Smartsheet (NYSE:SMAR - Get Free Report) last posted its earnings results on Wednesday, June 5th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. Smartsheet had a negative return on equity of 12.06% and a negative net margin of 8.35%. The firm had revenue of $262.98 million during the quarter, compared to analyst estimates of $258.06 million. As a group, analysts anticipate that Smartsheet Inc will post -0.24 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.

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