State Street Corp Acquires 15,642 Shares of SmartRent, Inc. (NYSE:SMRT)

State Street Corp grew its holdings in shares of SmartRent, Inc. (NYSE:SMRT) by 0.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,206,322 shares of the company’s stock after buying an additional 15,642 shares during the period. State Street Corp owned approximately 2.18% of SmartRent worth $7,277,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new position in shares of SmartRent during the 3rd quarter valued at $30,000. Algert Global LLC bought a new stake in SmartRent in the second quarter valued at $42,000. Paloma Partners Management Co acquired a new position in shares of SmartRent during the third quarter valued at about $47,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of SmartRent during the 3rd quarter worth about $65,000. Finally, Intech Investment Management LLC bought a new position in shares of SmartRent during the 3rd quarter worth about $106,000. 59.42% of the stock is currently owned by institutional investors.

SmartRent Price Performance

Shares of SmartRent stock opened at $1.63 on Friday. The business has a 50-day simple moving average of $1.68 and a 200 day simple moving average of $1.86. SmartRent, Inc. has a one year low of $1.17 and a one year high of $3.47. The firm has a market capitalization of $313.89 million, a price-to-earnings ratio of -12.54 and a beta of 1.96.

SmartRent (NYSE:SMRT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The firm had revenue of $40.50 million during the quarter, compared to analyst estimates of $45.94 million. During the same period last year, the business posted ($0.04) EPS. The company’s revenue was down 30.3% on a year-over-year basis. On average, sell-side analysts expect that SmartRent, Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling at SmartRent

In other SmartRent news, Director Frank Martell acquired 48,204 shares of the company’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $1.45 per share, with a total value of $69,895.80. Following the completion of the purchase, the director now owns 248,204 shares of the company’s stock, valued at approximately $359,895.80. This represents a 24.10 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.00% of the stock is currently owned by company insiders.

SmartRent 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.