SmartRent (NYSE:SMRT) CEO Buys $76,500.00 in Stock

Key Points

• SmartRent CEO Frank Martell purchased 50,000 shares of the company’s stock for $76,500, bringing his total holdings to 848,204 shares.
• The company reported a loss of ($0.06) earnings per share for the last quarter, missing analyst expectations by $0.02.
• SmartRent shares were recently trading at $1.52, with a market capitalization of approximately $284.93 million and a price-to-earnings ratio of -3.99.

SmartRent, Inc. (NYSE:SMRT - Get Free Report) CEO Frank Martell purchased 50,000 shares of the firm's stock in a transaction on Monday, September 15th. The shares were purchased at an average cost of $1.53 per share, with a total value of $76,500.00. Following the completion of the transaction, the chief executive officer owned 848,204 shares of the company's stock, valued at approximately $1,297,752.12. The trade was a 6.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, September 12th, Frank Martell acquired 50,000 shares of SmartRent stock. The stock was bought at an average cost of $1.44 per share, with a total value of $72,000.00.
• On Friday, August 15th, Frank Martell bought 120,000 shares of SmartRent stock. The stock was bought at an average price of $1.35 per share, with a total value of $162,000.00.
• On Tuesday, August 12th, Frank Martell bought 130,000 shares of SmartRent stock. The shares were bought at an average cost of $1.37 per share, for a total transaction of $178,100.00.
• On Monday, August 11th, Frank Martell bought 100,000 shares of SmartRent stock. The shares were bought at an average cost of $1.26 per share, for a total transaction of $126,000.00.
• On Friday, August 8th, Frank Martell bought 150,000 shares of SmartRent stock. The shares were bought at an average cost of $1.25 per share, for a total transaction of $187,500.00.

SmartRent Price Performance

NYSE:SMRT traded up $0.07 during trading hours on Monday, hitting $1.52. 1,680,503 shares of the company were exchanged, compared to its average volume of 1,844,836. The stock has a market capitalization of $284.93 million, a price-to-earnings ratio of -3.99 and a beta of 1.85. SmartRent, Inc. has a 52-week low of $0.67 and a 52-week high of $1.99. The company's 50 day moving average price is $1.24 and its 200-day moving average price is $1.07.

SmartRent (NYSE:SMRT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The company had revenue of $38.31 million for the quarter, compared to analysts' expectations of $38.85 million. SmartRent had a negative return on equity of 14.94% and a negative net margin of 46.54%. On average, equities analysts predict that SmartRent, Inc. will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On SmartRent

A number of hedge funds and other institutional investors have recently made changes to their positions in SMRT. Price T Rowe Associates Inc. MD grew its stake in shares of SmartRent by 15.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 71,641 shares of the company's stock worth $126,000 after purchasing an additional 9,827 shares during the period. Northern Trust Corp lifted its position in shares of SmartRent by 3.5% during the 4th quarter. Northern Trust Corp now owns 1,678,310 shares of the company's stock valued at $2,937,000 after buying an additional 55,977 shares in the last quarter. Jane Street Group LLC lifted its position in shares of SmartRent by 30.7% during the 4th quarter. Jane Street Group LLC now owns 406,132 shares of the company's stock valued at $711,000 after buying an additional 95,460 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of SmartRent by 6.6% during the 4th quarter. Ameriprise Financial Inc. now owns 2,627,954 shares of the company's stock valued at $4,599,000 after buying an additional 163,648 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of SmartRent during the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 59.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SMRT shares. Zacks Research upgraded shares of SmartRent to a "hold" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of SmartRent from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Keefe, Bruyette & Woods increased their price target on shares of SmartRent from $1.30 to $1.45 and gave the stock a "market perform" rating in a report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, SmartRent presently has an average rating of "Hold" and an average target price 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.

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