Tokio Marine Asset Management Co. Ltd. Acquires Shares of 141,400 Smartsheet Inc (NYSE:SMAR)

Tokio Marine Asset Management Co. Ltd. acquired a new stake in Smartsheet Inc (NYSE:SMAR) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 141,400 shares of the company’s stock, valued at approximately $7,828,000. Tokio Marine Asset Management Co. Ltd. owned approximately 0.10% of Smartsheet at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Smartsheet by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 13,809,208 shares of the company’s stock worth $531,655,000 after purchasing an additional 225,390 shares during the last quarter. Eminence Capital LP grew its holdings in Smartsheet by 9.2% during the 2nd quarter. Eminence Capital LP now owns 4,251,328 shares of the company’s stock worth $187,399,000 after acquiring an additional 358,988 shares during the period. RGM Capital LLC raised its position in shares of Smartsheet by 7.6% during the 2nd quarter. RGM Capital LLC now owns 2,223,763 shares of the company’s stock valued at $98,023,000 after acquiring an additional 156,817 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Smartsheet by 40.9% in the 2nd quarter. Marshall Wace LLP now owns 1,835,994 shares of the company’s stock worth $80,931,000 after purchasing an additional 533,278 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Smartsheet by 188.0% during the second quarter. AQR Capital Management LLC now owns 1,349,639 shares of the company’s stock worth $58,844,000 after purchasing an additional 881,004 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Smartsheet Price Performance

Shares of SMAR traded down $0.11 during trading hours on Thursday, hitting $55.75. The stock had a trading volume of 275,413 shares, compared to its average volume of 2,197,476. The firm has a 50 day simple moving average of $54.72 and a 200-day simple moving average of $47.66. Smartsheet Inc has a 1-year low of $35.52 and a 1-year high of $56.55. The firm has a market capitalization of $7.75 billion, a P/E ratio of -180.16 and a beta of 0.74.

Smartsheet (NYSE:SMAR) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.15. Smartsheet had a negative net margin of 4.07% and a negative return on equity of 4.29%. The firm had revenue of $276.41 million for the quarter, compared to analyst estimates of $274.23 million. During the same period last year, the firm earned ($0.23) earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. Equities analysts predict that Smartsheet Inc will post -0.05 EPS for the current fiscal year.

Smartsheet declared that its board has initiated a share buyback program on Thursday, September 5th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Mark Patrick Mader sold 20,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $51.78, for a total transaction of $1,035,600.00. Following the transaction, the chief executive officer now owns 588,762 shares of the company’s stock, valued at $30,486,096.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Smartsheet news, CEO Mark Patrick Mader sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $51.78, for a total transaction of $1,035,600.00. Following the completion of the sale, the chief executive officer now directly owns 588,762 shares in the company, valued at $30,486,096.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jolene Lau Marshall sold 3,571 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $55.37, for a total value of $197,726.27. Following the transaction, the insider now owns 9,958 shares in the company, valued at approximately $551,374.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,989 shares of company stock worth $2,068,874. Insiders own 4.52% of the company’s stock.

Analyst Upgrades and Downgrades

SMAR has been the topic of several research analyst reports. Citigroup restated a “neutral” rating and set a $56.50 target price (down from $63.00) on shares of Smartsheet in a report on Friday, September 27th. DA Davidson reissued a “neutral” rating and set a $56.50 price target (up from $55.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Guggenheim cut Smartsheet from a “buy” rating to a “neutral” rating in a research note on Monday. William Blair restated a “market perform” rating on shares of Smartsheet in a report on Wednesday, September 25th. Finally, Canaccord Genuity Group lowered shares of Smartsheet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $55.82.

Smartsheet 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.