Jennison Associates LLC Sells Off Smartsheet Inc Stock
January 30, 2023
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Jennison Associates LLC recently announced that it is selling off its stake in Smartsheet Inc ($NYSE:SMAR). Smartsheet Inc is a cloud-based software company that enables businesses to manage their processes and collaborate on projects. The company’s stock has been doing well in the market and has been a popular choice for investors looking for a reliable and long-term return. Smartsheet Inc has seen great success in recent years with its ability to provide a comprehensive suite of products to businesses of all sizes. The company’s services are used by millions of people around the world and it continues to be a leader in the software industry. Jennison Associates LLC’s decision to sell off its stake in Smartsheet Inc is likely due to its belief that the stock is currently overvalued and that it could be better used to invest in other companies.
The news has caused some speculation among investors, but the company’s stock has remained relatively stable since the announcement was made. Smartsheet Inc is one of the most successful cloud-based software companies and its services are highly sought after by businesses looking for an efficient way to manage their processes. Its stock has been a solid performer and is expected to continue to do well in the future. Those looking for an opportunity to invest in this company should consider Jennison Associates LLC’s offer as it is likely to be a profitable move.
Market Price
Jennison Associates LLC recently sold off stock in Smartsheet Inc, and news coverage has been mostly positive. On Monday, the stock opened at $42.8 and closed at $43.4, representing a 1.6% increase from the last closing price of $42.7. This increase reflects the overall sentiment that the company is seeing success and is a good investment. The news of the sale by Jennison Associates LLC is a positive sign for Smartsheet Inc, as it shows that the company is being seen as a good investment opportunity by other investors. The increase also suggests that the company is doing well and has potential for further growth.
The sale of stock by Jennison Associates LLC is likely to have a positive impact on the stock price of Smartsheet Inc in the short term, and could bring further attention to the company as other investors look at investing in it. In the long run, this could lead to increased demand for the stock and further growth in share price. Overall, the news of Jennison Associates LLC selling off stock in Smartsheet Inc is encouraging, as it indicates that the company is doing well and is seen as a good investment opportunity. This could lead to further growth in the stock price in both the short and long term. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Smartsheet Inc. More…
| Total Revenues | Net Income | Net Margin |
| 711.96 | -226.05 | -31.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Smartsheet Inc. More…
| Operations | Investing | Financing |
| 3.24 | -272.06 | 24.49 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Smartsheet Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.01k | 541.85 | 3.61 |
Key Ratios Snapshot
Some of the financial key ratios for Smartsheet Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 42.8% | – | -32.2% |
| FCF Margin | ROE | ROA |
| -1.3% | -30.3% | -14.1% |
VI Analysis
The VI app simplifies the analysis of SmartSheet Inc’s long-term potential by evaluating its fundamentals. Through VI Star Chart, it is revealed that SMARTSHEET INC is strong in asset and growth, but weak in dividend and profitability. Its health score is 5/10, indicating that it could remain afloat even during difficult times without the risk of bankruptcy. SMARTSHEET INC is classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given its characteristics, SMARTSHEET INC may be an attractive option for risk-tolerant investors looking to benefit from its potential growth. Long-term investors who are more conservative may wish to approach this company with caution due to its low profitability and dividend scores. Investors who are interested in short-term returns may also find the company attractive due to its potential for rapid growth. Overall, SMARTSHEET INC offers an interesting opportunity for investors who are willing to take on higher risks in exchange for potentially higher returns. Being aware of the company’s strengths and weaknesses, as well as its current financial health score, can help investors make informed decisions about whether or not to invest in the company. More…
VI Peers
There is fierce competition among Smartsheet Inc, Asana Inc, Monday.Com Ltd, and Microsoft Corp in the productivity software market. All four companies offer similar products and services that cater to businesses of all sizes.
However, each company has its own unique selling points that give it an edge over its competitors.
– Asana Inc ($NYSE:ASAN)
Asana is a work management platform that helps teams organize, track, and manage their work. It has a market cap of 3.98B as of 2022 and a Return on Equity of -184.09%. Asana was founded in 2008 by Justin Rosenstein and Dustin Moskovitz, and is headquartered in San Francisco, California.
– Monday.Com Ltd ($NASDAQ:MNDY)
Monday.com Ltd has a market cap of $4.38B as of 2022. The company has a Return on Equity of -16.76%. Monday.com is a software company that provides a platform for team collaboration and management. The company’s software enables users to manage tasks, projects, and processes in a single platform. Monday.com’s platform is used by organizations of all sizes, including Fortune 500 companies, small businesses, and startups.
– Microsoft Corp ($NASDAQ:MSFT)
Microsoft Corporation is an American multinational technology company with a market capitalization of $1.76 trillion as of April 2022 and a return on equity of 45.3%. The company develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers.
Summary
Investors have been reacting positively to the news that Jennison Associates LLC has sold off its shares of Smartsheet Inc. Smartsheet Inc is a cloud-based software platform for managing and automating collaborative work. Analysts are generally bullish on the stock, citing strong fundamentals and potential for long-term growth.
They note Smartsheet’s enterprise solutions, which have been well-received by customers, and the company’s future potential to capitalize on the growing cloud-based software market. Overall, investors are optimistic about the stock and remain bullish on the company’s prospects going forward.
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