SmartRent, Inc. $SMRT Shares Sold by Blue Door Asset Management LLC

Blue Door Asset Management LLC decreased its holdings in SmartRent, Inc. (NYSE:SMRT) by 16.5% in the second quarter, Holdings Channel reports. The firm owned 4,811,643 shares of the company’s stock after selling 951,653 shares during the period. SmartRent comprises about 2.5% of Blue Door Asset Management LLC’s portfolio, making the stock its 13th largest position. Blue Door Asset Management LLC’s holdings in SmartRent were worth $4,764,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in SmartRent by 230.4% in the second quarter. Marshall Wace LLP now owns 2,657,531 shares of the company’s stock valued at $2,631,000 after buying an additional 1,853,247 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of SmartRent by 245.9% during the first quarter. AQR Capital Management LLC now owns 973,783 shares of the company’s stock valued at $1,178,000 after acquiring an additional 692,268 shares in the last quarter. Nuveen LLC purchased a new position in shares of SmartRent in the 1st quarter valued at approximately $498,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SmartRent by 81.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 634,066 shares of the company’s stock worth $767,000 after purchasing an additional 285,478 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in SmartRent during the 2nd quarter worth approximately $266,000. 59.42% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of SmartRent from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research upgraded SmartRent from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of SmartRent in a research note on Monday, December 1st. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, SmartRent presently has a consensus rating of “Reduce” and a consensus price target of $1.45.

SmartRent Stock Performance

Shares of SMRT opened at $2.01 on Thursday. The business’s 50-day moving average is $1.53 and its two-hundred day moving average is $1.30. The company has a market capitalization of $379.35 million, a P/E ratio of -5.57 and a beta of 1.82. SmartRent, Inc. has a fifty-two week low of $0.67 and a fifty-two week high of $2.14.

SmartRent (NYSE:SMRT) last issued its earnings results on Wednesday, November 5th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $36.20 million for the quarter, compared to the consensus estimate of $36.27 million. SmartRent had a negative return on equity of 15.10% and a negative net margin of 45.45%. Analysts forecast that SmartRent, Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling

In other news, Director Thomas N. Bohjalian purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were purchased at an average cost of $1.68 per share, with a total value of $84,000.00. Following the completion of the acquisition, the director owned 350,000 shares of the company’s stock, valued at approximately $588,000. This represents a 16.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank Martell bought 124,086 shares of the stock in a transaction dated Friday, December 5th. The shares were purchased at an average cost of $1.91 per share, for a total transaction of $237,004.26. Following the completion of the purchase, the chief executive officer owned 1,447,290 shares in the company, valued at approximately $2,764,323.90. This represents a 9.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 599,086 shares of company stock worth $1,007,780 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

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.