Captrust Financial Advisors Boosts Holdings in Smartsheet Inc (NYSE:SMAR)

Captrust Financial Advisors increased its position in shares of Smartsheet Inc (NYSE:SMAR) by 77.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,311 shares of the company’s stock after buying an additional 5,811 shares during the quarter. Captrust Financial Advisors’ holdings in Smartsheet were worth $737,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Cetera Advisors LLC acquired a new stake in shares of Smartsheet in the first quarter valued at $219,000. Wealth Enhancement Advisory Services LLC acquired a new position in Smartsheet in the 2nd quarter valued at about $320,000. Vanderbilt University increased its stake in Smartsheet by 33.9% during the second quarter. Vanderbilt University now owns 84,891 shares of the company’s stock worth $3,742,000 after purchasing an additional 21,503 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Smartsheet by 169.3% during the second quarter. Assenagon Asset Management S.A. now owns 104,460 shares of the company’s stock worth $4,605,000 after purchasing an additional 65,670 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Smartsheet by 37.5% in the second quarter. First Horizon Advisors Inc. now owns 894 shares of the company’s stock valued at $39,000 after purchasing an additional 244 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jolene Lau Marshall sold 3,205 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $55.92, for a total value of $179,223.60. Following the sale, the insider now owns 18,695 shares of the company’s stock, valued at approximately $1,045,424.40. This represents a 14.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Patrick Mader sold 5,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $56.05, for a total value of $280,250.00. Following the sale, the chief executive officer now directly owns 578,762 shares in the company, valued at approximately $32,439,610.10. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,194 shares of company stock worth $2,248,098. 4.52% of the stock is owned by corporate insiders.

Smartsheet Trading Down 0.2 %

SMAR stock opened at $55.97 on Wednesday. The company’s 50-day moving average price is $55.95 and its 200 day moving average price is $49.74. Smartsheet Inc has a 52 week low of $35.52 and a 52 week high of $56.55. The company has a market cap of $7.78 billion, a P/E ratio of -932.83 and a beta of 0.71.

Smartsheet declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 5th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SMAR shares. William Blair reiterated a “market perform” rating on shares of Smartsheet in a report on Wednesday, September 25th. Guggenheim lowered Smartsheet from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.50 price target (down previously from $60.00) on shares of Smartsheet in a research report on Tuesday, September 24th. Citigroup reiterated a “neutral” rating and set a $56.50 price target (down previously from $63.00) on shares of Smartsheet in a report on Friday, September 27th. Finally, Barclays lifted their price objective on shares of Smartsheet from $50.00 to $56.50 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Smartsheet currently has an average rating of “Hold” and an average price target of $55.82.

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.