Principal Financial Group Inc. Grows Stake in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Principal Financial Group Inc. boosted its position in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM - Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 271,379 shares of the software maker's stock after buying an additional 6,078 shares during the period. Principal Financial Group Inc. owned approximately 0.55% of Alarm.com worth $15,102,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALRM. SBI Securities Co. Ltd. bought a new position in Alarm.com during the fourth quarter valued at approximately $25,000. C M Bidwell & Associates Ltd. bought a new position in Alarm.com during the fourth quarter valued at approximately $36,000. Bessemer Group Inc. boosted its stake 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 during the last quarter. Quarry LP boosted its stake in Alarm.com by 43.0% during the fourth quarter. Quarry LP now owns 1,008 shares of the software maker's stock valued at $61,000 after buying an additional 303 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Alarm.com by 87.9% during the first quarter. GAMMA Investing LLC now owns 1,964 shares of the software maker's stock valued at $109,000 after buying an additional 919 shares during the last quarter. 91.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price objective 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. Raymond James Financial lowered their price objective 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. Finally, Barclays lowered their price objective on Alarm.com from $67.00 to $60.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $64.33.

Insider Transactions at Alarm.com

In other news, insider Daniel Ramos sold 7,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $57.68, for a total value of $403,760.00. Following the sale, the insider directly owned 42,192 shares in the company, valued at approximately $2,433,634.56. This represents a 14.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Trundle sold 3,644 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $56.66, for a total value of $206,469.04. Following the completion of the sale, the chief executive officer owned 268,859 shares in the company, valued at approximately $15,233,550.94. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,167 shares of company stock valued at $1,994,181. Company insiders own 5.60% of the company's stock.

Alarm.com Trading Down 3.3%

Shares of NASDAQ ALRM traded down $1.85 during midday trading on Friday, hitting $54.77. The company's stock had a trading volume of 288,520 shares, compared to its average volume of 378,544. The company has a current ratio of 2.14, a quick ratio of 2.01 and a debt-to-equity ratio of 0.64. The business's 50 day moving average is $57.27 and its two-hundred day moving average is $57.67. 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 $2.72 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 2.93 and a beta of 0.99.

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.