Bain Capital Venture Investors Sells 66,939 Shares of SmartRent, Inc. (NYSE:SMRT) Stock

SmartRent, Inc. (NYSE:SMRT – Get Rating) major shareholder Bain Capital Venture Investors sold 66,939 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of 5.53, for a total transaction of 370,172.67. Following the sale, the insider now directly owns 19,726,258 shares of the company’s stock, valued at approximately 109,086,206.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Bain Capital Venture Investors also recently made the following trade(s):

• On Monday, August 8th, Bain Capital Venture Investors sold 75,100 shares of SmartRent stock. The shares were sold at an average price of 5.57, for a total transaction of 418,307.00.
• On Friday, August 5th, Bain Capital Venture Investors sold 77,042 shares of SmartRent stock. The shares were sold at an average price of 5.70, for a total transaction of 439,139.40.
• On Wednesday, August 3rd, Bain Capital Venture Investors sold 69,825 shares of SmartRent stock. The shares were sold at an average price of 5.68, for a total transaction of 396,606.00.
• On Monday, August 1st, Bain Capital Venture Investors sold 98,308 shares of SmartRent stock. The shares were sold at an average price of 5.33, for a total transaction of 523,981.64.
• On Friday, July 29th, Bain Capital Venture Investors sold 51,967 shares of SmartRent stock. The shares were sold at an average price of 5.62, for a total transaction of 292,054.54.
• On Wednesday, July 27th, Bain Capital Venture Investors sold 80,021 shares of SmartRent stock. The stock was sold at an average price of 4.97, for a total transaction of 397,704.37.
• On Monday, July 25th, Bain Capital Venture Investors sold 76,213 shares of SmartRent stock. The stock was sold at an average price of 4.86, for a total transaction of 370,395.18.
• On Friday, July 22nd, Bain Capital Venture Investors sold 6,685 shares of SmartRent stock. The stock was sold at an average price of 5.09, for a total transaction of 34,026.65.
• On Wednesday, July 20th, Bain Capital Venture Investors sold 114,050 shares of SmartRent stock. The stock was sold at an average price of 5.05, for a total transaction of 575,952.50.
• On Monday, July 18th, Bain Capital Venture Investors sold 34,278 shares of SmartRent stock. The stock was sold at an average price of 4.64, for a total transaction of 159,049.92.

SmartRent Stock Performance

SMRT stock opened at 3.66 on Friday. The firm has a market cap of $723.73 million, a PE ratio of -5.30 and a beta of 1.41. The firm’s fifty day moving average is 4.94 and its 200 day moving average is 5.05. SmartRent, Inc. has a one year low of 3.22 and a one year high of 15.14.

Analyst Ratings Changes

A number of research analysts have issued reports on SMRT shares. Morgan Stanley decreased their price target on shares of SmartRent from $4.90 to $4.50 and set an “equal weight” rating for the company in a report on Friday, August 12th. Colliers Securities cut their price objective on shares of SmartRent to $6.50 in a research note on Monday, August 15th. Imperial Capital assumed coverage on shares of SmartRent in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $6.00 price objective on the stock. DA Davidson cut their price objective on shares of SmartRent from $7.50 to $6.00 and set a “buy” rating on the stock in a research note on Friday, August 12th. Finally, Cantor Fitzgerald cut their price objective on shares of SmartRent from $6.00 to $5.25 in a research note on Friday, August 12th. One 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 stock has an average rating of “Moderate Buy” and a consensus target price of 6.92.

Hedge Funds Weigh In On SmartRent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ETF Managers Group LLC purchased a new position in SmartRent in the 4th quarter valued at about $29,000. Victory Capital Management Inc. boosted its stake in shares of SmartRent by 35.9% in the fourth quarter. Victory Capital Management Inc. now owns 13,819 shares of the company’s stock worth $134,000 after acquiring an additional 3,649 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of SmartRent by 693.6% in the first 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 during the last quarter. Quantbot Technologies LP increased its position in shares of SmartRent by 3,553.6% during the first quarter. Quantbot Technologies LP now owns 5,590 shares of the company’s stock worth $28,000 after purchasing an additional 5,437 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in SmartRent in the 2nd quarter valued at $26,000. 46.03% of the stock is 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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