Smartsheet (NYSE:SMAR) Given New $54.00 Price Target at Guggenheim

Smartsheet (NYSE:SMAR – Get Rating) had its price objective boosted by Guggenheim from $48.00 to $54.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently commented on the stock. Morgan Stanley boosted their price objective on shares of Smartsheet from $54.00 to $56.00 and gave the company an overweight rating in a research report on Friday, December 2nd. KeyCorp boosted their price target on shares of Smartsheet from $48.00 to $53.00 and gave the stock an overweight rating in a research report on Wednesday. Royal Bank of Canada boosted their price target on shares of Smartsheet from $36.00 to $43.00 and gave the stock a sector perform rating in a research report on Wednesday. BMO Capital Markets boosted their price target on shares of Smartsheet from $41.00 to $50.00 in a research report on Wednesday. Finally, DA Davidson boosted their price target on shares of Smartsheet from $54.00 to $57.00 in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Smartsheet has an average rating of Moderate Buy and an average price target of $48.89.

Smartsheet Stock Up 0.2 %

SMAR opened at $46.40 on Wednesday. Smartsheet has a 12 month low of $25.09 and a 12 month high of $58.22. The firm’s fifty day simple moving average is $43.26 and its 200 day simple moving average is $37.54.

Insider Activity at Smartsheet

In other Smartsheet news, insider Jolene Lau Marshall sold 2,221 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $44.47, for a total transaction of $98,767.87. Following the transaction, the insider now owns 9,535 shares in the company, valued at approximately $424,021.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System boosted its position in shares of Smartsheet by 23.8% during the 3rd quarter. California Public Employees Retirement System now owns 271,032 shares of the company’s stock worth $9,313,000 after acquiring an additional 52,167 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Smartsheet by 1.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 53,749 shares of the company’s stock worth $1,847,000 after acquiring an additional 690 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Smartsheet by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 33,263 shares of the company’s stock worth $1,143,000 after acquiring an additional 631 shares in the last quarter. Alpha Square Group S LLC boosted its position in shares of Smartsheet by 25.0% during the 3rd quarter. Alpha Square Group S LLC now owns 75,000 shares of the company’s stock worth $2,577,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new stake in shares of Smartsheet during the 2nd quarter worth approximately $1,986,000. Institutional investors and hedge funds own 89.50% of the company’s stock.

About Smartsheet

(Get Rating)

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.