Arizona State Retirement System Has $88,000 Stock Holdings in SmartRent, Inc. (NYSE:SMRT)

Arizona State Retirement System raised its holdings in shares of SmartRent, Inc. (NYSE:SMRT – Get Rating) by 51.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,268 shares of the company’s stock after purchasing an additional 12,382 shares during the quarter. Arizona State Retirement System’s holdings in SmartRent were worth $88,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SMRT. Long Pond Capital LP lifted its holdings in SmartRent by 59.9% during the 3rd quarter. Long Pond Capital LP now owns 11,903,445 shares of the company’s stock valued at $27,021,000 after purchasing an additional 4,459,725 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of SmartRent by 128.0% during the first quarter. Vanguard Group Inc. now owns 7,496,241 shares of the company’s stock worth $37,931,000 after buying an additional 4,207,723 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of SmartRent during the third quarter worth $8,980,000. State Street Corp lifted its holdings in shares of SmartRent by 794.8% during the second quarter. State Street Corp now owns 2,677,292 shares of the company’s stock worth $12,101,000 after buying an additional 2,378,079 shares in the last quarter. Finally, Caas Capital Management LP acquired a new stake in shares of SmartRent during the third quarter worth $2,555,000. Institutional investors and hedge funds own 62.27% of the company’s stock.

Insider Buying and Selling at SmartRent

In other news, Director Alana Beard sold 12,000 shares of SmartRent stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $3.39, for a total transaction of $40,680.00. Following the sale, the director now directly owns 63,525 shares of the company’s stock, valued at $215,349.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SMRT. Deutsche Bank Aktiengesellschaft dropped their target price on SmartRent from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, March 9th. Keefe, Bruyette & Woods raised their price target on SmartRent from $3.75 to $4.50 in a research report on Thursday, May 11th. Morgan Stanley raised their price target on SmartRent from $2.90 to $3.10 and gave the stock an “equal weight” rating in a research report on Thursday, March 9th. Finally, Cantor Fitzgerald raised their price target on SmartRent from $4.00 to $5.00 in a research report on Thursday, May 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.17.

SmartRent Stock Down 5.3 %

SmartRent stock opened at $3.22 on Friday. SmartRent, Inc. has a 12-month low of $2.03 and a 12-month high of $6.59. The business’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $2.64. The stock has a market cap of $642.26 million, a PE ratio of -7.32 and a beta of 1.85.

SmartRent (NYSE:SMRT – Get Rating) last released its earnings results on Wednesday, March 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). SmartRent had a negative return on equity of 21.61% and a negative net margin of 44.05%. The firm had revenue of $40.55 million for the quarter, compared to analysts’ expectations of $44.80 million. As a group, analysts expect that SmartRent, Inc. will post -0.19 earnings per share for the current year.

About SmartRent

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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.