Wells Fargo & Company MN boosted its position in Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 67.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,957 shares of the software maker’s stock after purchasing an additional 35,499 shares during the quarter. Wells Fargo & Company MN owned approximately 0.19% of Alarm.com Holdings worth $3,310,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Alarm.com Holdings by 152.7% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,687 shares of the software maker’s stock valued at $778,000 after acquiring an additional 12,500 shares during the period. Pier Capital LLC bought a new position in Alarm.com Holdings in the second quarter valued at about $5,916,000. Oppenheimer Asset Management Inc. bought a new position in Alarm.com Holdings in the second quarter valued at about $975,000. Oppenheimer & Co. Inc. bought a new position in Alarm.com Holdings in the second quarter valued at about $406,000. Finally, Swiss National Bank raised its stake in shares of Alarm.com Holdings by 42.6% in the second quarter. Swiss National Bank now owns 26,800 shares of the software maker’s stock worth $1,008,000 after buying an additional 8,000 shares during the period. 84.23% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider David Hutz sold 3,500 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $39.01, for a total transaction of $136,535.00. Following the completion of the sale, the insider now directly owns 124,022 shares of the company’s stock, valued at approximately $4,838,098.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Daniel Kerzner sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $40.21, for a total transaction of $804,200.00. Following the sale, the insider now directly owns 17,151 shares of the company’s stock, valued at $689,641.71. The disclosure for this sale can be found here. Insiders have sold a total of 348,942 shares of company stock valued at $15,179,697 over the last three months. Corporate insiders own 78.50% of the company’s stock.
Alarm.com Holdings, Inc. (NASDAQ ALRM) opened at 46.95 on Friday. Alarm.com Holdings, Inc. has a 12-month low of $26.68 and a 12-month high of $49.49. The stock has a market cap of $2.19 billion, a PE ratio of 120.08 and a beta of 1.45. The company’s 50-day moving average price is $46.30 and its 200-day moving average price is $46.30.
Alarm.com Holdings (NASDAQ:ALRM) last issued its quarterly earnings results on Tuesday, August 8th. The software maker reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.14. The company had revenue of $86.00 million during the quarter, compared to the consensus estimate of $81.05 million. Alarm.com Holdings had a negative return on equity of 35.68% and a net margin of 6.50%. Alarm.com Holdings’s revenue was up 33.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. On average, equities analysts expect that Alarm.com Holdings, Inc. will post $0.97 EPS for the current fiscal year.
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ALRM has been the topic of several recent research reports. Zacks Investment Research raised Alarm.com Holdings from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Monday, August 14th. Northland Securities set a $45.00 target price on Alarm.com Holdings and gave the company a “buy” rating in a research note on Wednesday, August 9th. Bank of America Corporation lifted their target price on Alarm.com Holdings from $39.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Roth Capital lifted their target price on Alarm.com Holdings from $43.50 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, Maxim Group restated a “buy” rating and set a $44.00 price target on shares of Alarm.com Holdings in a report on Wednesday, August 9th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.60.
About Alarm.com Holdings
Alarm.com Holdings, Inc is a platform solution for the connected property. The Company offers a suite of cloud-based solutions for the smart home and business, including interactive security, video monitoring, intelligent automation and energy management. The Company operates through two segments: Alarm.com and Other.
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