Envestnet Asset Management Inc. Trims Stock Position in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Envestnet Asset Management Inc. trimmed its position in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM - Free Report) by 6.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,505 shares of the software maker's stock after selling 7,522 shares during the period. Envestnet Asset Management Inc. owned about 0.23% of Alarm.com worth $6,428,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. C M Bidwell & Associates Ltd. purchased a new position in Alarm.com in the 4th quarter worth approximately $36,000. Bessemer Group Inc. increased its position in Alarm.com by 304.6% during the 1st quarter. Bessemer Group Inc. now owns 708 shares of the software maker's stock valued at $39,000 after purchasing an additional 533 shares during the period. Quarry LP increased its position in Alarm.com by 43.0% during the 4th quarter. Quarry LP now owns 1,008 shares of the software maker's stock valued at $61,000 after purchasing an additional 303 shares during the period. GAMMA Investing LLC increased its position in Alarm.com by 87.9% during the 1st quarter. GAMMA Investing LLC now owns 1,964 shares of the software maker's stock valued at $109,000 after purchasing an additional 919 shares during the period. Finally, KBC Group NV increased its position in shares of Alarm.com by 10.8% during the first quarter. KBC Group NV now owns 2,128 shares of the software maker's stock valued at $118,000 after buying an additional 208 shares during the period. 91.74% of the stock is owned by hedge funds and other institutional investors.

Alarm.com Price Performance

Alarm.com stock traded up $0.36 during mid-day trading on Friday, reaching $55.65. 258,961 shares of the company's stock traded hands, compared to its average volume of 267,129. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 2.98 and a beta of 0.99. The stock has a 50 day moving average of $56.89 and a two-hundred day moving average of $57.31. The company has a quick ratio of 2.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.64. Alarm.com Holdings, Inc. has a 12-month low of $48.23 and a 12-month high of $71.98.

Insider Activity at Alarm.com

In other news, CEO Stephen Trundle sold 3,644 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $56.66, for a total value of $206,469.04. Following the sale, the chief executive officer owned 268,859 shares of the company's stock, valued at approximately $15,233,550.94. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey A. Bedell sold 2,204 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $56.66, for a total transaction of $124,878.64. Following the completion of the sale, the insider directly owned 505,805 shares in the company, valued at $28,658,911.30. This trade represents a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,167 shares of company stock worth $1,994,181 in the last ninety days. Corporate insiders own 5.80% of the company's stock.

Wall Street Analysts Forecast Growth

ALRM has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their target price on Alarm.com from $66.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Barclays cut their price objective on shares of Alarm.com from $67.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Monday, April 14th. Finally, Raymond James Financial dropped their price target on shares of Alarm.com from $85.00 to $80.00 and set a "strong-buy" rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Alarm.com has an average rating of "Moderate Buy" and a consensus target price of $64.33.

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.