Alarm.com Holdings, Inc. (NASDAQ:ALRM) Stake Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,212 shares of the software maker’s stock after selling 947 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alarm.com were worth $1,269,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Oakworth Capital Inc. acquired a new stake in shares of Alarm.com during the 3rd quarter valued at $38,000. Huntington National Bank increased its holdings in shares of Alarm.com by 52.4% during the 3rd quarter. Huntington National Bank now owns 1,068 shares of the software maker’s stock valued at $58,000 after acquiring an additional 367 shares during the last quarter. Point72 DIFC Ltd raised its position in shares of Alarm.com by 293.6% in the second quarter. Point72 DIFC Ltd now owns 1,476 shares of the software maker’s stock valued at $94,000 after purchasing an additional 1,101 shares during the period. Canada Pension Plan Investment Board acquired a new position in Alarm.com during the 2nd quarter worth $108,000. Finally, CWM LLC increased its stake in shares of Alarm.com by 42.0% in the second quarter. CWM LLC now owns 2,088 shares of the software maker’s stock worth $133,000 after purchasing an additional 618 shares during the period. 91.74% of the stock is currently owned by institutional investors and hedge funds.

Alarm.com Trading Down 0.6 %

ALRM opened at $64.17 on Thursday. The company has a current ratio of 8.66, a quick ratio of 8.20 and a debt-to-equity ratio of 1.42. Alarm.com Holdings, Inc. has a 1-year low of $51.87 and a 1-year high of $77.29. The company has a fifty day moving average price of $56.09 and a two-hundred day moving average price of $60.76. The company has a market cap of $3.17 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 3.88 and a beta of 0.90.

Insider Activity

In other news, Director Stephen C. Evans sold 2,625 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $59.67, for a total value of $156,633.75. Following the completion of the transaction, the director now directly owns 5,767 shares in the company, valued at approximately $344,116.89. This trade represents a 31.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ALRM has been the topic of several recent research reports. JPMorgan Chase & Co. reissued an “underweight” rating and set a $50.00 price objective (down previously from $65.00) on shares of Alarm.com in a report on Monday, November 11th. Barclays increased their price target on Alarm.com from $60.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Jefferies Financial Group started coverage on shares of Alarm.com in a report on Tuesday, November 5th. They issued a “buy” rating and a $65.00 price target for the company. Roth Mkm lowered their price objective on Alarm.com from $78.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their price objective on shares of Alarm.com from $64.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Alarm.com has an average rating of “Hold” and a consensus target price of $64.40.

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.