Neuburgh Advisers LLC raised its holdings in Smartsheet Inc (NYSE:SMAR) by 76.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,530 shares of the company’s stock after buying an additional 1,100 shares during the period. Neuburgh Advisers LLC’s holdings in Smartsheet were worth $122,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. First Trust Advisors LP raised its stake in Smartsheet by 0.4% in the first quarter. First Trust Advisors LP now owns 86,589 shares of the company’s stock valued at $3,532,000 after buying an additional 318 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Smartsheet by 240.2% in the first quarter. BNP Paribas Arbitrage SA now owns 660 shares of the company’s stock valued at $27,000 after buying an additional 466 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Smartsheet by 11.8% in the second quarter. Envestnet Asset Management Inc. now owns 6,716 shares of the company’s stock valued at $325,000 after buying an additional 710 shares in the last quarter. Evolution Wealth Advisors LLC acquired a new stake in Smartsheet in the second quarter valued at $93,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Smartsheet during the second quarter worth about $111,000. Institutional investors own 80.26% of the company’s stock.

In other Smartsheet news, CFO Jennifer Ceran sold 135,000 shares of Smartsheet stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $38.89, for a total value of $5,250,150.00. Also, insider Paul Porrini sold 20,000 shares of Smartsheet stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $51.52, for a total value of $1,030,400.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,875,761 shares of company stock worth $258,072,956. Corporate insiders own 24.73% of the company’s stock.

Several equities analysts have issued reports on SMAR shares. Stephens reaffirmed a “buy” rating and set a $55.00 price objective on shares of Smartsheet in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on Smartsheet from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, September 5th. Zacks Investment Research raised Smartsheet from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Smartsheet in a report on Friday, August 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective (up previously from $45.00) on shares of Smartsheet in a report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $53.00.

Shares of NYSE SMAR traded down $0.79 during midday trading on Friday, reaching $40.61. 794,280 shares of the company were exchanged, compared to its average volume of 1,976,138. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.29. Smartsheet Inc has a 1 year low of $20.34 and a 1 year high of $55.79. The stock has a fifty day simple moving average of $48.49 and a 200 day simple moving average of $44.87. The stock has a market cap of $4.07 billion, a P/E ratio of -65.50 and a beta of 2.04.

Smartsheet (NYSE:SMAR) last released its quarterly earnings results on Wednesday, September 4th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.09. Smartsheet had a negative return on equity of 38.43% and a negative net margin of 30.10%. The firm had revenue of $64.64 million for the quarter, compared to analyst estimates of $63.55 million. During the same quarter last year, the company posted ($0.08) earnings per share. The business’s revenue was up 52.5% on a year-over-year basis. As a group, analysts forecast 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.

Recommended Story: What is dividend yield?

Institutional Ownership by Quarter for Smartsheet (NYSE:SMAR)

Receive News & Ratings for Smartsheet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Smartsheet and related companies with MarketBeat.com's FREE daily email newsletter.