T. Rowe Price Investment Management Inc. Acquires 31,866 Shares of Alarm.com Holdings, Inc. $ALRM

Key Points

• T. Rowe Price Investment Management Inc. increased its holdings in Alarm.com Holdings, Inc. by 7.0%, owning approximately $26.95 million worth of stock after purchasing 31,866 additional shares.
• The company reported earnings of $0.60 per share for the last quarter, exceeding analysts' expectations, with revenue reaching $254.31 million – an 8.8% increase compared to the previous year.
• Alarm.com's stock currently has a consensus rating of "Moderate Buy" with a price target of $64.33, despite Raymond James Financial lowering its price objective from $85.00 to $80.00.

T. Rowe Price Investment Management Inc. increased its holdings in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM - Free Report) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 484,266 shares of the software maker's stock after acquiring an additional 31,866 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.97% of Alarm.com worth $26,950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geneva Capital Management LLC lifted its stake in shares of Alarm.com by 0.9% in the first quarter. Geneva Capital Management LLC now owns 1,310,216 shares of the software maker's stock worth $72,913,000 after buying an additional 12,198 shares in the last quarter. Burgundy Asset Management Ltd. raised its position in Alarm.com by 26.3% in the first quarter. Burgundy Asset Management Ltd. now owns 882,351 shares of the software maker's stock worth $49,103,000 after acquiring an additional 183,503 shares during the period. Northern Trust Corp raised its position in Alarm.com by 1.5% in the fourth quarter. Northern Trust Corp now owns 704,309 shares of the software maker's stock worth $42,822,000 after acquiring an additional 10,674 shares during the period. Charles Schwab Investment Management Inc. raised its position in Alarm.com by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 535,678 shares of the software maker's stock worth $29,810,000 after acquiring an additional 5,295 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Alarm.com by 6.2% in the fourth quarter. Deutsche Bank AG now owns 392,711 shares of the software maker's stock worth $23,877,000 after purchasing an additional 22,831 shares in the last quarter. Institutional investors own 91.74% of the company's stock.

Insider Buying and Selling

In other Alarm.com news, CFO Kevin Christopher Bradley sold 754 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $56.75, for a total transaction of $42,789.50. Following the completion of the transaction, the chief financial officer owned 53,056 shares in the company, valued at $3,010,928. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.80% of the stock is owned by company insiders.

Alarm.com Price Performance

ALRM traded down $0.05 during trading on Friday, hitting $58.70. 61,121 shares of the company traded hands, compared to its average volume of 348,331. The company has a market cap of $2.93 billion, a PE ratio of 24.66, a P/E/G ratio of 2.91 and a beta of 0.97. The stock's 50-day simple moving average is $56.19 and its two-hundred day simple moving average is $56.47. Alarm.com Holdings, Inc. has a 1 year low of $48.23 and a 1 year high of $70.06. The company has a current ratio of 1.95, a quick ratio of 1.82 and a debt-to-equity ratio of 0.61.

Alarm.com (NASDAQ:ALRM - Get Free Report) last posted its earnings results on Thursday, August 7th. The software maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.08. The company had revenue of $254.31 million during the quarter, compared to analysts' expectations of $243.96 million. Alarm.com had a net margin of 13.27% and a return on equity of 13.84%. Alarm.com's quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $0.58 earnings per share. Alarm.com has set its FY 2025 guidance at 2.400-2.400 EPS. As a group, sell-side analysts anticipate that Alarm.com Holdings, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial reduced their price objective 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Alarm.com currently has an average rating of "Moderate Buy" and an average price target of $64.33.

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.