SmartRent (NYSE:SMRT) CEO Frank Martell Purchases 100,000 Shares of Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 100,000 shares of SmartRent stock in a transaction dated Thursday, December 4th. The shares were acquired at an average cost of $1.88 per share, for a total transaction of $188,000.00. Following the completion of the purchase, the chief executive officer directly owned 1,323,204 shares of the company’s stock, valued at approximately $2,487,623.52. This trade represents a 8.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Frank Martell also recently made the following trade(s):

• On Wednesday, December 3rd, Frank Martell purchased 27,722 shares of SmartRent stock. The stock was acquired at an average cost of $1.86 per share, with a total value of $51,562.92.
• On Tuesday, December 2nd, Frank Martell purchased 28,846 shares of SmartRent stock. The stock was bought at an average cost of $1.69 per share, with a total value of $48,749.74.
• On Monday, December 1st, Frank Martell bought 18,432 shares of SmartRent stock. The stock was purchased at an average cost of $1.69 per share, with a total value of $31,150.08.
• On Friday, November 21st, Frank Martell acquired 56,236 shares of SmartRent stock. The stock was purchased at an average price of $1.44 per share, with a total value of $80,979.84.
• On Thursday, November 20th, Frank Martell acquired 93,764 shares of SmartRent stock. The shares were acquired at an average cost of $1.47 per share, for a total transaction of $137,833.08.
• On Monday, September 15th, Frank Martell bought 50,000 shares of SmartRent stock. The shares were acquired at an average price of $1.53 per share, with a total value of $76,500.00.
• On Friday, September 12th, Frank Martell acquired 50,000 shares of SmartRent stock. The shares were bought at an average cost of $1.44 per share, with a total value of $72,000.00.

SmartRent Trading Up 5.1%

NYSE:SMRT traded up $0.10 during trading hours on Friday, reaching $1.98. 486,728 shares of the company traded hands, compared to its average volume of 1,623,472. The business’s 50-day moving average price is $1.49 and its two-hundred day moving average price is $1.27. SmartRent, Inc. has a 1 year low of $0.67 and a 1 year high of $2.14. The stock has a market capitalization of $373.67 million, a P/E ratio of -5.51 and a beta of 1.82.

SmartRent (NYSE:SMRT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.03. The firm had revenue of $36.20 million during the quarter, compared to the consensus estimate of $36.27 million. SmartRent had a negative return on equity of 15.10% and a negative net margin of 45.45%. As a group, equities analysts anticipate that SmartRent, Inc. will post -0.14 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartRent in a research note on Monday. Wall Street Zen raised SmartRent from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research upgraded SmartRent from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Keefe, Bruyette & Woods boosted their target price on SmartRent from $1.30 to $1.45 and gave the stock a “market perform” rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, SmartRent has a consensus rating of “Reduce” and an average target price of $1.45.

Hedge Funds Weigh In On SmartRent

A number of institutional investors have recently bought and sold shares of SMRT. Citigroup Inc. grew its holdings in SmartRent by 33.3% during the third quarter. Citigroup Inc. now owns 15,671,673 shares of the company’s stock valued at $22,097,000 after purchasing an additional 3,915,817 shares during the period. UBS Group AG raised its stake in shares of SmartRent by 28.8% in the third quarter. UBS Group AG now owns 10,448,199 shares of the company’s stock worth $14,732,000 after buying an additional 2,335,454 shares during the period. Millennium Management LLC lifted its position in shares of SmartRent by 24.7% during the 3rd quarter. Millennium Management LLC now owns 3,646,341 shares of the company’s stock valued at $5,141,000 after buying an additional 721,846 shares in the last quarter. Mak Capital One LLC bought a new position in shares of SmartRent during the 3rd quarter valued at approximately $4,038,000. Finally, Marshall Wace LLP grew its stake in shares of SmartRent by 230.4% during the 2nd quarter. Marshall Wace LLP now owns 2,657,531 shares of the company’s stock valued at $2,631,000 after acquiring an additional 1,853,247 shares during the period. 59.42% of the stock is owned by institutional investors.

About SmartRent

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.