Insider Buying: SmartRent (NYSE:SMRT) CEO Buys 19,466 Shares of Stock

by · The Cerbat Gem

SmartRent, Inc. (NYSE:SMRT – Get Free Report) CEO Frank Martell bought 19,466 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were bought at an average cost of $2.07 per share, for a total transaction of $40,294.62. Following the completion of the purchase, the chief executive officer owned 2,113,796 shares of the company’s stock, valued at $4,375,557.72. This represents a 0.93% increase in their ownership of the stock. The transaction was disclosed in a document filed 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 stock was bought at an average cost of $2.06 per share, with a total value of $62,900.04.
  • On Thursday, December 11th, Frank Martell acquired 25,000 shares of SmartRent stock. The shares were bought at an average price of $2.07 per share, for a total transaction of $51,750.00.
  • On Friday, December 5th, Frank Martell bought 124,086 shares of SmartRent stock. The stock was purchased at an average price of $1.91 per share, with a total value of $237,004.26.
  • On Thursday, December 4th, Frank Martell bought 100,000 shares of SmartRent stock. The stock was purchased at an average cost of $1.88 per share, with a total value of $188,000.00.
  • On Wednesday, December 3rd, Frank Martell purchased 27,722 shares of SmartRent stock. The stock was purchased at an average price of $1.86 per share, for a total transaction of $51,562.92.
  • On Tuesday, December 2nd, Frank Martell acquired 28,846 shares of SmartRent stock. The stock was purchased at an average cost of $1.69 per share, with a total value of $48,749.74.
  • On Monday, December 1st, Frank Martell acquired 18,432 shares of SmartRent stock. The shares were purchased at an average price of $1.69 per share, with a total value of $31,150.08.
  • On Friday, November 21st, Frank Martell bought 56,236 shares of SmartRent stock. The shares were purchased at an average cost of $1.44 per share, for a total transaction of $80,979.84.
  • On Thursday, November 20th, Frank Martell purchased 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 Stock Up 0.7%

SMRT stock traded up $0.02 during midday trading on Tuesday, reaching $2.07. 1,689,241 shares of the company’s stock traded hands, compared to its average volume of 1,628,435. The firm’s fifty day moving average price is $1.57 and its 200-day moving average price is $1.33. SmartRent, Inc. has a 52 week low of $0.67 and a 52 week high of $2.20. The company has a market cap of $390.70 million, a price-to-earnings ratio of -5.74 and a beta of 1.81.

SmartRent (NYSE:SMRT – Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $36.20 million for the quarter, compared to analyst estimates of $36.27 million. SmartRent had a negative net margin of 45.45% and a negative return on equity of 15.10%. Analysts forecast that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Report on SmartRent

Institutional Investors Weigh In On SmartRent

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citigroup Inc. lifted its position 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 buying an additional 3,915,817 shares in the last quarter. Mak Capital One LLC purchased a new stake in shares of SmartRent during the third quarter valued at approximately $4,038,000. Northern Right Capital Management L.P. bought a new stake in SmartRent during the third quarter worth $3,739,000. UBS Group AG lifted its holdings in SmartRent by 28.8% during the third quarter. UBS Group AG now owns 10,448,199 shares of the company’s stock worth $14,732,000 after acquiring an additional 2,335,454 shares during the period. Finally, Marshall Wace LLP boosted its position in SmartRent by 230.4% in 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 last quarter. Hedge funds and other institutional investors own 59.42% of the company’s stock.

About SmartRent

(Get Free Report)

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.

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