TimesSquare Capital Management LLC Has $39.77 Million Holdings in Smartsheet Inc (NYSE:SMAR)

TimesSquare Capital Management LLC lifted its holdings in Smartsheet Inc (NYSE:SMAR) by 12.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,103,900 shares of the company’s stock after purchasing an additional 125,100 shares during the period. TimesSquare Capital Management LLC owned 0.95% of Smartsheet worth $39,774,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Smartsheet by 220.0% in the 2nd quarter. Vanguard Group Inc. now owns 6,756,252 shares of the company’s stock worth $327,002,000 after acquiring an additional 4,644,716 shares during the period. BlackRock Inc. raised its holdings in Smartsheet by 285.3% in the 2nd quarter. BlackRock Inc. now owns 4,536,828 shares of the company’s stock worth $219,582,000 after acquiring an additional 3,359,344 shares during the period. First Trust Advisors LP raised its holdings in Smartsheet by 624.5% in the 3rd quarter. First Trust Advisors LP now owns 3,747,273 shares of the company’s stock worth $135,014,000 after acquiring an additional 3,230,070 shares during the period. Whale Rock Capital Management LLC raised its holdings in Smartsheet by 87.3% in the 2nd quarter. Whale Rock Capital Management LLC now owns 5,030,271 shares of the company’s stock worth $243,465,000 after acquiring an additional 2,344,769 shares during the period. Finally, Abdiel Capital Advisors LP bought a new position in Smartsheet in the 2nd quarter worth $108,740,000. 76.23% of the stock is owned by institutional investors and hedge funds.

SMAR has been the topic of several recent analyst reports. DA Davidson dropped their target price on shares of Smartsheet to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. First Analysis initiated coverage on shares of Smartsheet in a report on Tuesday. They issued an “outperform” rating and a $50.00 target price on the stock. Royal Bank of Canada dropped their target price on shares of Smartsheet from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on shares of Smartsheet from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Finally, Wedbush downgraded shares of Smartsheet from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $62.00 to $42.00 in a report on Monday. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $50.07.

In related news, insider Eugene Farrell sold 30,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $51.02, for a total value of $1,530,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kara Hamilton sold 7,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $51.72, for a total transaction of $387,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 769,172 shares of company stock worth $31,665,658. Insiders own 24.73% of the company’s stock.

Shares of NYSE:SMAR traded down $0.06 on Wednesday, hitting $38.98. 1,241,000 shares of the company were exchanged, compared to its average volume of 1,806,798. The company’s 50 day moving average price is $38.68 and its two-hundred day moving average price is $44.53. Smartsheet Inc has a one year low of $20.34 and a one year high of $55.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.50 and a current ratio of 3.50. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of -62.87 and a beta of 1.95.

Smartsheet (NYSE:SMAR) last posted its quarterly earnings data on Wednesday, September 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.09. Smartsheet had a negative net margin of 30.10% and a negative return on equity of 24.74%. The company had revenue of $64.64 million for the quarter, compared to the consensus estimate of $63.55 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue was up 52.5% compared to the same quarter last year. Research analysts predict that Smartsheet Inc will post -0.92 earnings per share for the current year.

Smartsheet Company Profile

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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Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

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