Principal Financial Group Inc. Cuts Stock Position in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Principal Financial Group Inc. trimmed its holdings in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 253,770 shares of the software maker’s stock after selling 10,792 shares during the period. Principal Financial Group Inc.’s holdings in Alarm.com were worth $13,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its stake in shares of Alarm.com by 230.6% during the third quarter. Assenagon Asset Management S.A. now owns 381,277 shares of the software maker’s stock worth $20,844,000 after purchasing an additional 265,936 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Alarm.com by 2,394.6% during the 2nd quarter. Bank of Montreal Can now owns 273,730 shares of the software maker’s stock valued at $17,406,000 after buying an additional 262,757 shares during the period. M&G PLC acquired a new position in Alarm.com during the 3rd quarter worth approximately $9,583,000. Disciplined Growth Investors Inc. MN boosted its holdings in Alarm.com by 6.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,710,998 shares of the software maker’s stock worth $172,257,000 after acquiring an additional 158,465 shares during the period. Finally, Federated Hermes Inc. grew its position in Alarm.com by 1,729.4% in the second quarter. Federated Hermes Inc. now owns 118,231 shares of the software maker’s stock valued at $7,512,000 after acquiring an additional 111,768 shares in the last quarter. 91.74% of the stock is currently owned by institutional investors and hedge funds.

Alarm.com Stock Performance

Shares of ALRM stock opened at $59.85 on Friday. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 4.25 and a beta of 0.90. Alarm.com Holdings, Inc. has a one year low of $51.87 and a one year high of $77.29. The company’s 50-day simple moving average is $55.09 and its 200-day simple moving average is $61.15. The company has a debt-to-equity ratio of 1.42, a quick ratio of 8.20 and a current ratio of 8.66.

Analyst Ratings Changes

A number of research analysts have recently commented on ALRM shares. JPMorgan Chase & Co. reissued an “underweight” rating and set a $50.00 target price (down from $65.00) on shares of Alarm.com in a research report on Monday, November 11th. StockNews.com lowered shares of Alarm.com from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Barclays upped their price objective on shares of Alarm.com from $60.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. The Goldman Sachs Group boosted their price target on Alarm.com from $64.00 to $67.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Roth Mkm reduced their price target on Alarm.com from $78.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $64.40.

Insider Buying and Selling

In related news, insider Daniel Ramos sold 9,476 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $61.81, for a total transaction of $585,711.56. Following the completion of the transaction, the insider now directly owns 41,100 shares in the company, valued at $2,540,391. This represents a 18.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steve Valenzuela sold 7,400 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $60.27, for a total transaction of $445,998.00. Following the transaction, the chief financial officer now directly owns 37,500 shares of the company’s stock, valued at approximately $2,260,125. This trade represents a 16.48 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by company insiders.

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.