Principal Financial Group Inc. Cuts Position in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Principal Financial Group Inc. lowered its stake in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 253,770 shares of the software maker’s stock after selling 10,792 shares during the period. Principal Financial Group Inc. owned about 0.51% of Alarm.com worth $13,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Oakworth Capital Inc. purchased a new stake in Alarm.com during the third quarter worth $38,000. Point72 DIFC Ltd increased its holdings in Alarm.com by 293.6% during the 2nd quarter. Point72 DIFC Ltd now owns 1,476 shares of the software maker’s stock valued at $94,000 after acquiring an additional 1,101 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Alarm.com during the second quarter worth about $108,000. CWM LLC lifted its holdings in shares of Alarm.com by 42.0% in the second quarter. CWM LLC now owns 2,088 shares of the software maker’s stock valued at $133,000 after purchasing an additional 618 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Alarm.com by 8.3% in the second quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the software maker’s stock valued at $151,000 after purchasing an additional 183 shares during the last quarter. 91.74% of the stock is currently owned by institutional investors and hedge funds.

Alarm.com Stock Performance

NASDAQ ALRM opened at $59.85 on Friday. The business’s 50-day moving average price is $55.09 and its 200 day moving average price is $61.15. The company has a current ratio of 8.66, a quick ratio of 8.20 and a debt-to-equity ratio of 1.42. Alarm.com Holdings, Inc. has a twelve month low of $51.87 and a twelve month high of $77.29. The company has a market capitalization of $2.96 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 4.25 and a beta of 0.90.

Insider Activity

In other news, insider Daniel Ramos sold 9,476 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $61.81, for a total transaction of $585,711.56. Following the completion of the sale, the insider now directly owns 41,100 shares in the company, valued at $2,540,391. This represents a 18.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Steve Valenzuela sold 7,400 shares of Alarm.com stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $60.27, for a total value of $445,998.00. Following the completion of the transaction, the chief financial officer now owns 37,500 shares in the company, valued at $2,260,125. The trade was a 16.48 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ALRM shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $50.00 price objective (down from $65.00) on shares of Alarm.com in a research report on Monday, November 11th. Barclays boosted their price target on Alarm.com from $60.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. The Goldman Sachs Group increased their price objective on Alarm.com from $64.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Roth Mkm dropped their price objective on Alarm.com from $78.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group initiated coverage on shares of Alarm.com in a report on Tuesday, November 5th. They issued a “buy” rating and a $65.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $64.40.

Alarm.com Company Profile

Alarm.com Holdings, Inc provides various Internet of Things (IoT) and solutions for residential, multi-family, small business, and enterprise commercial markets in North America and internationally. The company operates through two segments, Alarm.com and Other. It offers solutions to control and monitor security systems, as well as to IoT devices, including door locks, garage doors, thermostats, and video cameras; and video monitoring and analytics solutions, such as video analytics, escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.