Top 5 Stock Picks of Mark Moore’s ThornTree Capital

3. Smartsheet Inc. (NYSE:SMAR)

Value of Mr. Moore’s Stake: $44.6 Million

Percentage of ThornTree Capital’s 13F Portfolio: 6.01%

Number of Hedge Fund Holders: 49

Smartsheet Inc. (NYSE:SMAR) is an American company headquartered in Bellevue, Washington that deals in cloud based workflow software. The company’s products allow its customers to coordinate their employee activities and visibility into daily operations alongside planning and coordination.

Mr. Moore held 619,963 shares of Smartsheet Inc. (NYSE:SMAR) by the end of the second quarter. These were worth $44.6 million and represented 6.01% of his portfolio. During the same time period, 49 out of the 873 hedge funds surveyed by Insider Monkey held a stake in the company.

During its second quarter, Smartsheet Inc. (NYSE:SMAR) earned $131 million in revenue and -$0.05 in non-GAAP EPS, beating analyst estimates on both counts. The company’s price target was raised to $90 by BMO Capital in a September 2021 analyst note which highlighted that a good total addressable market and remote working trends should serve the company well.

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