Citigroup Inc. lifted its holdings in shares of SmartRent, Inc. (NYSE:SMRT – Get Rating) by 191,514.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,506,200 shares of the company’s stock after buying an additional 10,500,717 shares during the period. Citigroup Inc. owned approximately 5.30% of SmartRent worth $25,530,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. HighTower Advisors LLC acquired a new stake in shares of SmartRent during the first quarter valued at $215,000. Vanguard Group Inc. raised 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 valued at $37,931,000 after acquiring an additional 4,207,723 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SmartRent by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 446,525 shares of the company’s stock worth $2,260,000 after purchasing an additional 11,145 shares during the period. Renaissance Technologies LLC raised its holdings in shares of SmartRent by 224.4% during the first quarter. Renaissance Technologies LLC now owns 100,900 shares of the company’s stock worth $511,000 after purchasing an additional 69,800 shares during the period. Finally, State Street Corp increased its holdings in shares of SmartRent by 9.6% in the 1st quarter. State Street Corp now owns 299,213 shares of the company’s stock worth $1,514,000 after acquiring an additional 26,213 shares during the period. 62.27% of the stock is owned by hedge funds and other institutional investors.
SmartRent Price Performance
Shares of SmartRent stock opened at $3.31 on Monday. The company has a market capitalization of $660.21 million, a P/E ratio of -7.52 and a beta of 1.85. SmartRent, Inc. has a 1 year low of $2.03 and a 1 year high of $6.59. The business has a 50-day moving average of $2.53 and a two-hundred day moving average of $2.59.
SmartRent (NYSE:SMRT – Get Rating) last posted its quarterly earnings results on Wednesday, March 8th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). SmartRent had a negative return on equity of 23.15% and a negative net margin of 57.40%. The firm had revenue of $40.55 million during the quarter, compared to the consensus estimate of $44.80 million. On average, equities analysts anticipate that SmartRent, Inc. will post -0.21 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of SmartRent from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, March 9th. Cantor Fitzgerald raised their target price on shares of SmartRent from $4.00 to $5.00 in a report on Thursday. Morgan Stanley upped their price target on shares of SmartRent from $2.90 to $3.10 and gave the stock an “equal weight” rating in a research note on Thursday, March 9th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of SmartRent from $3.75 to $4.50 in a report on Thursday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.48.
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.