SmartRent (NYSE:SMRT) CEO Purchases $40,294.62 in Stock

SmartRent, Inc. (NYSE:SMRT) CEO Frank Martell bought 19,466 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was purchased at an average price of $2.07 per share, with a total value of $40,294.62. Following the completion of the acquisition, the chief executive officer owned 2,113,796 shares of the company’s stock, valued at approximately $4,375,557.72. This trade represents a 0.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, December 15th, Frank Martell purchased 30,534 shares of SmartRent stock. The shares were purchased at an average price of $2.06 per share, for a total transaction of $62,900.04.
• On Thursday, December 11th, Frank Martell purchased 25,000 shares of SmartRent stock. The stock was purchased at an average price of $2.07 per share, with a total value of $51,750.00.
• On Friday, December 5th, Frank Martell acquired 124,086 shares of SmartRent stock. The stock was purchased at an average cost of $1.91 per share, with a total value of $237,004.26.
• On Thursday, December 4th, Frank Martell acquired 100,000 shares of SmartRent stock. The shares were purchased at an average price of $1.88 per share, for a total transaction of $188,000.00.
• On Wednesday, December 3rd, Frank Martell bought 27,722 shares of SmartRent stock. The shares were purchased at an average cost of $1.86 per share, for a total transaction of $51,562.92.
• On Tuesday, December 2nd, Frank Martell bought 28,846 shares of SmartRent stock. The stock was acquired at an average price 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 acquired at an average cost of $1.69 per share, with a total value of $31,150.08.
• On Friday, November 21st, Frank Martell purchased 56,236 shares of SmartRent stock. The shares were acquired at an average cost of $1.44 per share, for a total transaction of $80,979.84.
• On Thursday, November 20th, Frank Martell acquired 93,764 shares of SmartRent stock. The stock was acquired at an average cost of $1.47 per share, with a total value of $137,833.08.

SmartRent Price Performance

NYSE SMRT opened at $2.12 on Friday. The firm has a market capitalization of $401.10 million, a price-to-earnings ratio of -5.89 and a beta of 1.82. The company has a 50 day simple moving average of $1.61 and a 200-day simple moving average of $1.35. SmartRent, Inc. has a 52-week low of $0.67 and a 52-week high of $2.20.

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

Hedge Funds Weigh In On SmartRent

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

Analyst Upgrades and Downgrades

SMRT has been the subject of a number of research reports. Wall Street Zen raised SmartRent from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of SmartRent in a report on Monday. Finally, Zacks Research upgraded SmartRent from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $1.45.

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.