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

Principal Financial Group Inc. reduced its holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 253,770 shares of the software maker’s stock after selling 10,792 shares during the quarter. Principal Financial Group Inc. owned 0.51% of Alarm.com worth $13,874,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in Alarm.com by 15.8% during the second quarter. Bank of New York Mellon Corp now owns 472,948 shares of the software maker’s stock valued at $30,051,000 after purchasing an additional 64,424 shares during the last quarter. nVerses Capital LLC lifted its holdings in shares of Alarm.com by 4,300.0% during the 2nd quarter. nVerses Capital LLC now owns 4,400 shares of the software maker’s stock worth $280,000 after acquiring an additional 4,300 shares during the last quarter. Versor Investments LP grew its position in Alarm.com by 22.6% in the second quarter. Versor Investments LP now owns 14,530 shares of the software maker’s stock worth $923,000 after acquiring an additional 2,679 shares in the last quarter. Rhumbline Advisers increased its stake in Alarm.com by 0.6% in the second quarter. Rhumbline Advisers now owns 139,560 shares of the software maker’s stock valued at $8,868,000 after acquiring an additional 812 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Alarm.com by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 13,283 shares of the software maker’s stock valued at $844,000 after purchasing an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 91.74% of the company’s stock.

Alarm.com Stock Down 1.4 %

Shares of NASDAQ:ALRM opened at $62.07 on Friday. Alarm.com Holdings, Inc. has a 1 year low of $51.87 and a 1 year high of $77.29. The company has a debt-to-equity ratio of 1.42, a current ratio of 8.66 and a quick ratio of 8.20. The stock’s 50-day moving average is $61.41 and its 200 day moving average is $60.69. The company has a market cap of $3.07 billion, a PE ratio of 26.87, a P/E/G ratio of 4.08 and a beta of 0.97.

Analysts Set New Price Targets

ALRM has been the subject of a number of recent research reports. Roth Mkm lowered their price objective on shares of Alarm.com from $78.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. restated an “underweight” rating and set a $50.00 price target (down from $65.00) on shares of Alarm.com in a research report on Monday, November 11th. StockNews.com raised Alarm.com from a “hold” rating to a “buy” rating in a research note on Wednesday, December 18th. Jefferies Financial Group assumed coverage on Alarm.com in a research note on Tuesday, November 5th. They issued a “buy” rating and a $65.00 target price for the company. Finally, The Goldman Sachs Group raised their price target on Alarm.com from $64.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Alarm.com presently has an average rating of “Hold” and an average target price of $64.40.

Insider Activity

In other Alarm.com news, insider Daniel Kerzner sold 32,851 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $66.40, for a total transaction of $2,181,306.40. Following the transaction, the insider now owns 59,668 shares in the company, valued at approximately $3,961,955.20. This represents a 35.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen Trundle sold 47,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $68.18, for a total value of $3,238,550.00. Following the completion of the transaction, the chief executive officer now owns 252,682 shares of the company’s stock, valued at approximately $17,227,858.76. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,976 shares of company stock valued at $5,576,490. Company insiders own 5.60% of the company’s stock.

Alarm.com 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.