Venturi Wealth Management LLC Has $67,000 Stock Position in Smartsheet Inc (NYSE:SMAR)

Venturi Wealth Management LLC boosted its holdings in Smartsheet Inc (NYSE:SMAR) by 111.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,215 shares of the company’s stock after acquiring an additional 640 shares during the period. Venturi Wealth Management LLC’s holdings in Smartsheet were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE grew its position in shares of Smartsheet by 12.9% in the third quarter. US Bancorp DE now owns 1,749 shares of the company’s stock valued at $97,000 after purchasing an additional 200 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Smartsheet by 37.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock valued at $39,000 after buying an additional 244 shares in the last quarter. Principal Financial Group Inc. increased its position in Smartsheet by 2.4% during the 3rd quarter. Principal Financial Group Inc. now owns 11,538 shares of the company’s stock worth $639,000 after buying an additional 266 shares during the period. Atria Investments Inc increased its position in Smartsheet by 3.1% during the 3rd quarter. Atria Investments Inc now owns 9,749 shares of the company’s stock worth $540,000 after buying an additional 289 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Smartsheet by 3.5% in the second quarter. Amalgamated Bank now owns 8,678 shares of the company’s stock valued at $383,000 after acquiring an additional 294 shares during the period. 90.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Truist Financial reaffirmed a “hold” rating and set a $56.50 price target (down from $60.00) on shares of Smartsheet in a research report on Wednesday, September 25th. Wolfe Research reiterated a “peer perform” rating on shares of Smartsheet in a research note on Wednesday, September 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.50 price objective (down previously from $60.00) on shares of Smartsheet in a research note on Tuesday, September 24th. Morgan Stanley upped their target price on Smartsheet from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Citigroup restated a “neutral” rating and issued a $56.50 price target (down previously from $63.00) on shares of Smartsheet in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Smartsheet presently has a consensus rating of “Hold” and a consensus target price of $55.82.

Smartsheet Stock Up 0.0 %

Shares of SMAR opened at $55.87 on Friday. The stock has a market cap of $7.76 billion, a PE ratio of -180.23 and a beta of 0.74. Smartsheet Inc has a 12-month low of $35.52 and a 12-month high of $56.55. The business has a 50-day simple moving average of $54.72 and a two-hundred day simple moving average of $47.66.

Smartsheet (NYSE:SMAR) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $276.41 million during the quarter, compared to the consensus estimate of $274.23 million. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. The firm’s revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts expect that Smartsheet Inc will post -0.05 EPS for the current year.

Smartsheet announced that its board has initiated a stock repurchase plan on Thursday, September 5th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Smartsheet

In other news, COO Stephen Robert Branstetter sold 1,847 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $53.00, for a total value of $97,891.00. Following the completion of the sale, the chief operating officer now directly owns 64,215 shares in the company, valued at $3,403,395. This trade represents a 2.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jolene Lau Marshall sold 3,571 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.59, for a total value of $180,656.89. Following the completion of the transaction, the insider now owns 13,529 shares in the company, valued at approximately $684,432.11. The trade was a 20.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,989 shares of company stock valued at $2,068,874. Corporate insiders own 4.52% of the company’s stock.

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.