698,848 Shares in Alarm.com Holdings, Inc. (NASDAQ:ALRM) Purchased by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. acquired a new stake in Alarm.com Holdings, Inc. (NASDAQ:ALRM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 698,848 shares of the software maker's stock, valued at approximately $42,490,000. Burgundy Asset Management Ltd. owned about 1.41% of Alarm.com at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ALRM. Norges Bank purchased a new stake in shares of Alarm.com in the fourth quarter valued at $34,841,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Alarm.com during the 4th quarter worth about $27,506,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Alarm.com by 120.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 400,810 shares of the software maker's stock worth $24,369,000 after buying an additional 219,203 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Alarm.com in the fourth quarter valued at approximately $8,156,000. Finally, Jefferies Financial Group Inc. raised its position in shares of Alarm.com by 818.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 116,452 shares of the software maker's stock valued at $7,080,000 after buying an additional 103,777 shares during the last quarter. 91.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ALRM shares. Raymond James lowered their target price on shares of Alarm.com from $85.00 to $80.00 and set a "strong-buy" rating for the company in a research note on Friday, May 9th. The Goldman Sachs Group dropped their target price on Alarm.com from $66.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Finally, Barclays decreased their price target on Alarm.com from $67.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $64.33.

Alarm.com Stock Performance

Shares of NASDAQ:ALRM traded down $0.52 during trading on Wednesday, hitting $57.21. 77,172 shares of the stock were exchanged, compared to its average volume of 423,019. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 24.96, a price-to-earnings-growth ratio of 3.59 and a beta of 1.02. The company's fifty day simple moving average is $54.51 and its 200-day simple moving average is $59.28. Alarm.com Holdings, Inc. has a 1-year low of $48.23 and a 1-year high of $71.98. The company has a debt-to-equity ratio of 1.35, a quick ratio of 7.38 and a current ratio of 7.85.

Insider Activity

In other news, insider Daniel Kerzner sold 932 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $55.49, for a total transaction of $51,716.68. Following the completion of the sale, the insider now directly owns 58,736 shares in the company, valued at approximately $3,259,260.64. This represents a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steve Valenzuela sold 3,436 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $58.45, for a total transaction of $200,834.20. Following the completion of the sale, the chief financial officer now owns 37,500 shares in the company, valued at approximately $2,191,875. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,334 shares of company stock valued at $2,290,118 over the last 90 days. 5.60% of the stock is owned by company insiders.

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.