M&G Plc Makes New $9.58 Million Investment in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

M&G Plc purchased a new position in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 174,241 shares of the software maker’s stock, valued at approximately $9,583,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oakworth Capital Inc. acquired a new position in shares of Alarm.com during the 3rd quarter valued at $38,000. Point72 DIFC Ltd raised its holdings in shares of Alarm.com by 293.6% during 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 bought a new position in shares of Alarm.com during the 2nd quarter worth about $108,000. CWM LLC grew its stake in shares of Alarm.com by 42.0% in the 2nd quarter. CWM LLC now owns 2,088 shares of the software maker’s stock valued at $133,000 after buying an additional 618 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in Alarm.com by 8.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the software maker’s stock valued at $151,000 after buying an additional 183 shares in the last quarter. 91.74% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Daniel Ramos sold 9,476 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $61.81, for a total value of $585,711.56. Following the completion of the transaction, the insider now directly owns 41,100 shares of the company’s stock, valued at $2,540,391. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alarm.com news, CFO Steve Valenzuela sold 7,400 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $60.27, for a total value of $445,998.00. Following the transaction, the chief financial officer now directly owns 37,500 shares in the company, valued at $2,260,125. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Ramos sold 9,476 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $61.81, for a total transaction of $585,711.56. Following the transaction, the insider now directly owns 41,100 shares of the company’s stock, valued at $2,540,391. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Jefferies Financial Group began coverage on Alarm.com in a report on Tuesday. They issued a “buy” rating and a $65.00 price target on the stock. Barclays lowered their target price on Alarm.com from $72.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Roth Mkm reduced their price target on shares of Alarm.com from $78.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. The Goldman Sachs Group initiated coverage on shares of Alarm.com in a report on Friday, September 6th. They set a “neutral” rating and a $64.00 price objective on the stock. Finally, StockNews.com upgraded shares of Alarm.com from a “hold” rating to a “buy” rating in a report on Friday, September 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $66.40.

Alarm.com Price Performance

Shares of NASDAQ:ALRM opened at $57.14 on Friday. The company has a current ratio of 9.25, a quick ratio of 8.70 and a debt-to-equity ratio of 1.52. The stock has a market cap of $2.81 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 3.25 and a beta of 0.90. The stock’s fifty day simple moving average is $54.73 and its two-hundred day simple moving average is $61.39. Alarm.com Holdings, Inc. has a 1-year low of $51.19 and a 1-year high of $77.29.

Alarm.com (NASDAQ:ALRM) last released its quarterly earnings results on Thursday, August 8th. The software maker reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. The business had revenue of $233.80 million for the quarter, compared to analysts’ expectations of $227.35 million. Alarm.com had a net margin of 11.92% and a return on equity of 13.00%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, analysts forecast that Alarm.com Holdings, Inc. will post 1.4 EPS for the current fiscal year.

Alarm.com Company 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.