SmartRent, Inc. (NYSE:SMRT – Get Rating) – Research analysts at Colliers Securities dropped their FY2022 earnings per share (EPS) estimates for SmartRent in a report issued 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 prior forecast 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.

A number of other equities analysts also recently commented on SMRT. The Goldman Sachs Group decreased their target price on SmartRent to $6.00 in a research note on Monday, August 15th. Morgan Stanley decreased their target price on SmartRent from $4.90 to $4.50 and set an "equal weight" rating for the company in a research note on Friday, August 12th. DA Davidson cut their price target on SmartRent from $7.50 to $6.00 and set a "buy" rating on the stock in a report on Friday, August 12th. Compass Point started coverage on SmartRent in a report on Wednesday, May 25th. They set a "buy" rating and a $8.00 price target on the stock. Finally, Cantor Fitzgerald cut their price target on SmartRent from $6.00 to $5.25 in a report on Friday, August 12th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of 6.92.

SmartRent Stock Up 6.7 %

Insider Buying and Selling

In other SmartRent news, major shareholder Bain Capital Venture Investors sold 250,000 shares of the company's stock in a transaction on 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 transaction, the insider now owns 21,722,649 shares of the company's stock, valued at 95,796,882.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert T. Best purchased 84,000 shares of the company's stock in a transaction on Wednesday, August 17th. The shares were bought at an average price of 3.65 per share, with a total value of 306,600.00. Following the completion of the acquisition, the director now owns 4,905,222 shares of the company's stock, valued at 17,904,060.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bain Capital Venture Investors sold 250,000 shares of the company's stock in a transaction on Thursday, June 30th. The shares were sold at an average price of 4.41, for a total value of 1,102,500.00. Following the completion of the transaction, the insider now directly owns 21,722,649 shares in the company, valued at approximately 95,796,882.09. The disclosure for this sale can be found here. Insiders have sold a total of 1,480,727 shares of company stock valued at $7,301,428 over the last quarter. Corporate insiders own 12.00% of the company's stock.

Hedge Funds Weigh In On SmartRent

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vulcan Value Partners LLC grew its holdings in shares of SmartRent by 45.0% during the 4th quarter. Vulcan Value Partners LLC now owns 9,052,926 shares of the company's stock valued at $87,632,000 after acquiring an additional 2,810,288 shares in the last quarter. Vanguard Group Inc. boosted its holdings in SmartRent by 128.0% in the first quarter. Vanguard Group Inc. now owns 7,496,241 shares of the company's stock worth $37,931,000 after purchasing an additional 4,207,723 shares in the last quarter. Long Pond Capital LP boosted its holdings in SmartRent by 29.1% in the second quarter. Long Pond Capital LP now owns 7,443,720 shares of the company's stock worth $33,646,000 after purchasing an additional 1,678,028 shares in the last quarter. Luxor Capital Group LP boosted its holdings in SmartRent by 36.6% in the fourth quarter. Luxor Capital Group LP now owns 2,940,908 shares of the company's stock worth $28,468,000 after purchasing an additional 787,913 shares in the last quarter. Finally, State Street Corp boosted its holdings in SmartRent by 794.8% in the second quarter. State Street Corp now owns 2,677,292 shares of the company's stock worth $12,101,000 after purchasing an additional 2,378,079 shares in the last quarter. 72.74% of the stock is currently owned by hedge funds and other institutional investors.

SmartRent Company Profile

(Get Rating)

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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