XTX Topco Ltd Has $84,000 Stock Holdings in SmartRent, Inc. (NYSE:SMRT)

XTX Topco Ltd trimmed its position in SmartRent, Inc. (NYSE:SMRT) by 32.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,941 shares of the company’s stock after selling 16,485 shares during the quarter. XTX Topco Ltd’s holdings in SmartRent were worth $84,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of SmartRent in the 1st quarter valued at $84,000. Price T Rowe Associates Inc. MD grew its holdings in shares of SmartRent by 18.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 53,177 shares of the company’s stock valued at $143,000 after purchasing an additional 8,169 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in shares of SmartRent by 104.3% during the second quarter. Legacy Capital Group California Inc. now owns 70,750 shares of the company’s stock worth $169,000 after buying an additional 36,123 shares during the last quarter. Renaissance Technologies LLC grew its position in SmartRent by 26.0% during the 2nd quarter. Renaissance Technologies LLC now owns 197,700 shares of the company’s stock worth $473,000 after acquiring an additional 40,800 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of SmartRent by 15.6% in the second quarter. American Century Companies Inc. now owns 247,379 shares of the company’s stock valued at $591,000 after buying an additional 33,291 shares during the period. 59.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SMRT shares. BTIG Research lowered shares of SmartRent from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Colliers Securities cut SmartRent from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald lowered SmartRent from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $4.00 to $2.00 in a research note on Thursday, August 8th. DA Davidson downgraded shares of SmartRent from a “buy” rating to a “neutral” rating and decreased their target price for the company from $3.25 to $2.00 in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods lowered shares of SmartRent from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $3.50 to $2.00 in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, SmartRent presently has an average rating of “Hold” and an average target price of $2.64.

Insider Buying and Selling

In related news, Director Frank Martell purchased 75,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $1.63 per share, with a total value of $122,250.00. Following the completion of the purchase, the director now owns 150,000 shares in the company, valued at approximately $244,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Frank Martell acquired 75,000 shares of SmartRent stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $1.63 per share, with a total value of $122,250.00. Following the completion of the purchase, the director now owns 150,000 shares of the company’s stock, valued at approximately $244,500. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Robyn Young bought 14,793 shares of the stock in a transaction dated Friday, August 30th. The shares were purchased at an average cost of $1.70 per share, for a total transaction of $25,148.10. Following the completion of the transaction, the chief marketing officer now directly owns 52,305 shares of the company’s stock, valued at $88,918.50. The disclosure for this purchase can be found here. 9.00% of the stock is owned by insiders.

SmartRent Price Performance

Shares of NYSE:SMRT opened at $1.64 on Wednesday. SmartRent, Inc. has a 1 year low of $1.35 and a 1 year high of $3.47. The business’s 50-day moving average is $1.75 and its 200-day moving average is $2.22. The company has a market capitalization of $331.00 million, a price-to-earnings ratio of -11.03 and a beta of 1.97.

SmartRent (NYSE:SMRT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $48.52 million during the quarter, compared to analyst estimates of $51.33 million. SmartRent had a negative net margin of 10.73% and a negative return on equity of 5.68%. SmartRent’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. Analysts anticipate that SmartRent, Inc. will post -0.09 EPS for the current year.

About SmartRent

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.