Evanson Asset Management LLC Cuts Position in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Evanson Asset Management LLC lowered its stake in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM - Free Report) by 19.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,786 shares of the software maker's stock after selling 40,300 shares during the period. Alarm.com comprises 0.7% of Evanson Asset Management LLC's portfolio, making the stock its 28th largest holding. Evanson Asset Management LLC owned 0.34% of Alarm.com worth $9,449,000 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 ALRM. Summit Investment Advisors Inc. boosted its stake in shares of Alarm.com by 3.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,953 shares of the software maker's stock worth $301,000 after acquiring an additional 172 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Alarm.com by 8.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 2,670 shares of the software maker's stock worth $162,000 after purchasing an additional 200 shares during the last quarter. MetLife Investment Management LLC boosted its position in Alarm.com by 1.0% during the fourth quarter. MetLife Investment Management LLC now owns 28,119 shares of the software maker's stock worth $1,710,000 after purchasing an additional 281 shares in the last quarter. Quarry LP grew its holdings in Alarm.com by 43.0% in the fourth 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 last quarter. Finally, Legal & General Group Plc grew its holdings in Alarm.com by 0.3% in the fourth quarter. Legal & General Group Plc now owns 139,290 shares of the software maker's stock valued at $8,469,000 after purchasing an additional 401 shares during the last quarter. 91.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James Financial cut their price target on 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 reduced their price target on shares of Alarm.com from $66.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Finally, Barclays lowered their price target 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.33.

Insiders Place Their Bets

In other news, insider Daniel Kerzner sold 932 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $55.49, for a total transaction of $51,716.68. Following the transaction, the insider now directly owns 58,736 shares in the company, valued at $3,259,260.64. This represents a 1.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel Ramos sold 7,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $57.68, for a total transaction of $403,760.00. Following the completion of the sale, the insider now owns 42,192 shares of the company's stock, valued at approximately $2,433,634.56. The trade was a 14.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,898 shares of company stock valued at $2,089,284 in the last quarter. 5.80% of the stock is currently owned by company insiders.

Alarm.com Price Performance

NASDAQ:ALRM opened at $56.32 on Friday. Alarm.com Holdings, Inc. has a 12-month low of $48.23 and a 12-month high of $71.98. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 3.01 and a beta of 1.02. The company's 50-day moving average is $55.73 and its two-hundred day moving average is $58.79. The company has a current ratio of 2.14, a quick ratio of 2.01 and a debt-to-equity ratio of 0.64.

About Alarm.com

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.

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