SmartRent, Inc. (NYSE:SMRT – Get Rating) – Analysts at Colliers Securities cut their FY2022 earnings per share estimates for SmartRent in a note issued to investors on Monday, September 19th. Colliers Securities analyst B. Oxford now anticipates that the company will post earnings of ($0.55) per share for the year, down from their previous estimate of ($0.53). The consensus estimate for SmartRent’s current full-year earnings is ($0.48) per share. Colliers Securities also issued estimates for SmartRent’s FY2023 earnings at ($0.17) EPS.
SMRT has been the subject of a number of other research reports. Cantor Fitzgerald dropped their price objective on SmartRent from $6.00 to $5.25 in a research report on Friday, August 12th. The Goldman Sachs Group dropped their target price on shares of SmartRent to $6.00 in a report on Monday, August 15th. Morgan Stanley decreased their price target on shares of SmartRent from $4.90 to $4.50 and set an “equal weight” rating on the stock in a report on Friday, August 12th. DA Davidson dropped their price objective on shares of SmartRent from $7.50 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 12th. Finally, Imperial Capital started coverage on shares of SmartRent in a research note on Tuesday, August 16th. They set an “outperform” rating and a $6.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of 6.92.
SmartRent Trading Down 7.4 %
Insiders Place Their Bets
In related news, major shareholder Bain Capital Venture Investors sold 250,000 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of 4.41, for a total transaction of 1,102,500.00. Following the transaction, the insider now owns 21,722,649 shares in the company, valued at approximately 95,796,882.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Bain Capital Venture Investors sold 250,000 shares of the firm’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of 4.41, for a total value of 1,102,500.00. Following the completion of the sale, the insider now directly owns 21,722,649 shares in the company, valued at approximately 95,796,882.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert T. Best purchased 84,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were purchased at an average cost of 3.65 per share, for a total transaction of 306,600.00. Following the completion of the purchase, the director now owns 4,905,222 shares in the company, valued at approximately 17,904,060.30. The disclosure for this purchase can be found here. Over the last three months, insiders sold 1,480,727 shares of company stock worth $7,301,428. 12.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of SmartRent during the second quarter valued at approximately $26,000. Royal Bank of Canada grew its stake in shares of SmartRent by 693.6% in the 1st quarter. Royal Bank of Canada now owns 5,571 shares of the company’s stock worth $28,000 after acquiring an additional 4,869 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of SmartRent by 3,553.6% in the first quarter. Quantbot Technologies LP now owns 5,590 shares of the company’s stock valued at $28,000 after purchasing an additional 5,437 shares during the last quarter. ETF Managers Group LLC bought a new position in shares of SmartRent during the fourth quarter valued at about $29,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of SmartRent during the second quarter valued at about $51,000. 72.74% of the stock is currently owned by institutional investors and hedge funds.
SmartRent Company Profile
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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