5 Tech Stocks To Buy According to Daryl Smith’s Kayak Investment Partners

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1. Smartsheet Inc. (NYSE:SMAR)

Value of Kayak Investment’s Stake: $51.6 million

Percentage of Kayak Investment’s 13F Portfolio: 7.29%

Number of Hedge Fund Holders: 49

Smartsheet Inc. (NYSE:SMAR) is a provider of cloud based software for workflow management, to let its customers manage their employee activities and conduct planning and coordination through a software platform.  It is headquartered in Bellevue, Washington and was founded in 2005.

Kayak Investment held 750,119 shares of Smartsheet Inc. (NYSE:SMAR) by the end of the third quarter. These were worth $51.6 million and represented 7.29% of its portfolio. During the prior quarter, 49 out of the 873 hedge funds surveyed by Insider Monkey held a stake in the company.

Smartsheet Inc. (NYSE:SMAR) earned $131 million in revenue and -$0.05 in non-GAAP EPS, beating analyst estimates on both counts in its second quarter. BMO Capital raised the company’s price target to $90 in a September 2021 analyst note citing faith in its total addressable market and the emergence of remote working trends.

Smartsheet Inc. (NYSE:SMAR)’s largest investor is Panayotis Takis Sparaggis’s Alkeon Capital Management who owns 3.3 million shares worth $238 million.

Disclosure: None. You can also take a peek at the Top 10 Energy Sector Stocks for 2021 and 15 Fastest-Growing Fintech Companies.

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