Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM – Get Rating) by 10.6% during the 1st quarter, according to the company in its latest filing with the Securities & Exchange Commission. The institutional investor held 121,310 shares of the software maker after selling 14,351 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.24% of Alarm.com worth $8,062,000 when it last filed with the SEC.
A number of other hedge funds also changed their stock holdings. Mutual of America Capital Management LLC increased its stake in Alarm.com by 2.8% in the fourth quarter. Mutual of America Capital Management LLC now owns 6,292 shares of the software maker valued at $534,000 after buying 170 additional shares last quarter. HighTower Advisors LLC increased its stake in Alarm.com by 2.2% in the fourth quarter. HighTower Advisors LLC now owns 13,846 shares of the software maker worth $1,166,000 after buying 293 additional shares in the last quarter. Maryland State Retirement & Pension System increased its position in Alarm.com by 1.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 18,361 shares of the software maker valued at $1,557,000 after acquiring 294 additional shares last quarter. Raymond James & Associates increased its stake in Alarm.com by 0.9% in the fourth quarter. Raymond James & Associates now owns 41,341 shares of the software maker valued at $3,506,000 after acquiring 363 additional shares in the last quarter. Finally, National Bank of Canada FI increased its position in Alarm.com by 16.2% in the first quarter. National Bank of Canada FI now owns 2,760 shares of the software maker worth $183,000 after acquiring 385 additional shares last quarter. 91.77% of the shares are held by institutional investors and hedge funds.
Insider buying and selling
In other Alarm.com news, insider Jeffrey A. Bedell sold 11,106 shares of the company in a trade that took place Thursday, August 18. The stock was sold at an average price of $75.08, for a total value of $833,838.48. Following the completion of the transaction, the insider now owns 469,282 shares of the company, valued at approximately $35,233,692.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Vice Chairman Daniel Ramos sold 7,877 shares of the company in a trade dated Friday, August 12. The shares were sold at an average price of $75.24, for a total value of $592,665.48. Following the sale, the vice president now owns 37,500 shares of the company, valued at $2,821,500. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, insider Jeffrey A. Bedell sold 11,106 shares of the company in a trade dated Thursday, August 18. The stock was sold at an average price of $75.08, for a total transaction of $833,838.48. Following the transaction, the insider now owns 469,282 shares of the company, valued at approximately $35,233,692.56. The disclosure of this sale can be found here. Insiders sold a total of 26,500 shares of the company valued at $1,986,523 over the past three months. 5.50% of the shares are held by company insiders.
Alarm.com shares down 2.1%
ALRM opened at $73.13 on Friday. The company has a 50-day moving average of $67.06 and a 200-day moving average of $65.30. The stock has a market capitalization of $3.64 billion, a price/earnings ratio of 88.11, a P/E/G ratio of 4.44 and a beta of 1.18. The company has a current ratio of 6.27, a quick ratio of 5.50 and a debt ratio of 0.87. Alarm.com Holdings, Inc. has a 1-year minimum of $54.99 and a 1-year maximum of $90.69.
Alarm.com (NASDAQ:ALRM – Get Rating) last released its quarterly results on Tuesday, August 9. The software maker reported earnings per share of $0.49 for the quarter, beating consensus analyst estimates of $0.41 from $0.08. Alarm.com had a net margin of 5.29% and a return on equity of 10.90%. The company posted revenue of $212.80 million in the quarter, versus a consensus estimate of $207.93 million. During the same period of the previous year, the company achieved EPS of $0.43. The company’s revenue increased 12.7% year over year. As a group, sell-side analysts expect Alarm.com Holdings, Inc. to post 1.16 earnings per share for the current year.
Changes to analyst ratings
ALRM has been the subject of several analyst reports. StockNews.com downgraded shares of Alarm.com from a “buy” rating to a “hold” rating in a research rating on Thursday. Raymond James raised his price target on Alarm.com from $80.00 to $83.00 in a Wednesday, August 10 research note. TheStreet upgraded Alarm.com from a “c” rating to a “b-” rating in a Wednesday, August 10 research note. Barclays raised its target price on Alarm.com from $63.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday August 10. Finally, Maxim Group raised its price target on Alarm.com shares from $84.00 to $90.00 and gave the company a “buy” rating in a Thursday, Aug. 11 research report. Three research analysts gave the stock a hold rating, three gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.80.
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Alarm.com Holdings, Inc provides cloud-based solutions for smart residential and commercial properties in the United States and around the world. It operates in two segments, Alarm.com and Others. The company provides interactive security solutions to control and monitor their security systems, as well as connected security devices, including door locks, motion sensors, door locks, garage doors, Internet of objects, thermostats and video cameras; and video surveillance solutions, such as video analytics, live streaming, video doorbell, video clips, video alerts, high definition continuous recording and commercial video surveillance solutions.
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