Mackenzie Financial Corp Sells 5,037 Shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Key Points

• Mackenzie Financial Corp reduced its stake in Alarm.com Holdings, Inc. by 24.4%, owning 15,574 shares valued at approximately $867,000 after selling 5,037 shares in the first quarter.
• Insider transactions included CEO Stephen Trundle selling 3,644 shares for about $206,469, which decreased his ownership by 1.34%.
• Analysts have cut their price targets for Alarm.com, with Raymond James lowering it from $85.00 to $80.00, while the average price target is now $64.33 following various analyst ratings.

Mackenzie Financial Corp trimmed its position in Alarm.com Holdings, Inc. (NASDAQ:ALRM - Free Report) by 24.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,574 shares of the software maker's stock after selling 5,037 shares during the quarter. Mackenzie Financial Corp's holdings in Alarm.com were worth $867,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. lifted its position in Alarm.com by 304.6% during the first quarter. Bessemer Group Inc. now owns 708 shares of the software maker's stock valued at $39,000 after buying an additional 533 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Alarm.com by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 271,379 shares of the software maker's stock valued at $15,102,000 after acquiring an additional 6,078 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Alarm.com during the 1st quarter worth $241,000. GAMMA Investing LLC increased its holdings in Alarm.com by 87.9% in 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 in the last quarter. Finally, SG Americas Securities LLC raised its position in Alarm.com by 32.6% in the first quarter. SG Americas Securities LLC now owns 13,886 shares of the software maker's stock valued at $773,000 after purchasing an additional 3,413 shares during the period. 91.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ALRM shares. The Goldman Sachs Group decreased their target price on shares of Alarm.com from $66.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Barclays reduced 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. Finally, Raymond James Financial dropped their target price 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 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.33.

Alarm.com Stock Up 0.1%

Shares of ALRM traded up $0.07 during trading hours on Friday, reaching $54.41. The company's stock had a trading volume of 695,805 shares, compared to its average volume of 345,949. The company has a 50 day moving average of $56.48 and a two-hundred day moving average of $57.00. The company has a quick ratio of 2.01, a current ratio of 2.14 and a debt-to-equity ratio of 0.64. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 2.98 and a beta of 0.97. Alarm.com Holdings, Inc. has a 1-year low of $48.23 and a 1-year high of $70.06.

Alarm.com (NASDAQ:ALRM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The software maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.08. Alarm.com had a return on equity of 14.04% and a net margin of 13.45%. The company had revenue of $254.31 million during the quarter, compared to the consensus estimate of $243.96 million. During the same period last year, the business earned $0.58 EPS. The business's quarterly revenue was up 8.8% on a year-over-year basis. As a group, research analysts predict that Alarm.com Holdings, Inc. will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Alarm.com news, insider Daniel Kerzner sold 2,213 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $56.66, for a total value of $125,388.58. Following the sale, the insider owned 72,004 shares of the company's stock, valued at $4,079,746.64. The trade was a 2.98% decrease in their position. The sale was disclosed in a 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 transaction, the insider directly owned 505,805 shares of the company's stock, valued at $28,658,911.30. This trade represents a 0.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,167 shares of company stock valued at $1,994,181 in the last ninety days. Company insiders own 5.80% of the company's stock.

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.