Insider Spends US$219k Buying More Shares In SmartRent

Investors who take an interest in SmartRent, Inc. (NYSE:SMRT) should definitely note that the CEO, President & Director, Frank Martell, recently paid US$1.46 per share to buy US$219k worth of the stock. That's a very decent purchase to our minds and it grew their holding by a solid 11%.

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SmartRent Insider Transactions Over The Last Year

In fact, the recent purchase by CEO, President & Director Frank Martell was not their only acquisition of SmartRent shares this year. They previously made an even bigger purchase of US$305k worth of shares at a price of US$1.37 per share. That implies that an insider found the current price of US$1.45 per share to be enticing. That means they have been optimistic about the company in the past, though they may have changed their mind. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. The good news for SmartRent share holders is that insiders were buying at near the current price.

While SmartRent insiders bought shares during the last year, they didn't sell. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

Check out our latest analysis for SmartRent

SmartRent is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.

Insider Ownership Of SmartRent

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. It appears that SmartRent insiders own 10% of the company, worth about US$28m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

What Might The Insider Transactions At SmartRent Tell Us?

The recent insider purchase is heartening. And an analysis of the transactions over the last year also gives us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Given that insiders also own a fair bit of SmartRent we think they are probably pretty confident of a bright future. Therefore, you should definitely take a look at this FREE report showing analyst forecasts for SmartRent.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.