Citigroup Inc. Reduces Stock Holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Posted by Defense World Staff on Sep 6th, 2023

Citigroup Inc. cut its holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM – Free Report) by 6.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,068 shares of the software maker’s stock after selling 3,222 shares during the period. Citigroup Inc. owned about 0.09% of Alarm.com worth $2,316,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. acquired a new position in Alarm.com during the fourth quarter worth about $46,000. Tower Research Capital LLC TRC lifted its stake in Alarm.com by 422.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,055 shares of the software maker’s stock valued at $53,000 after buying an additional 853 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Alarm.com during the 2nd quarter valued at $92,000. Federated Hermes Inc. increased its position in Alarm.com by 1,006.0% during the first quarter. Federated Hermes Inc. now owns 2,024 shares of the software maker’s stock worth $102,000 after buying an additional 1,841 shares in the last quarter. Finally, Point72 Middle East FZE acquired a new position in shares of Alarm.com in the fourth quarter worth $131,000. 89.10% of the stock is owned by institutional investors and hedge funds.

Alarm.com Stock Performance

NASDAQ:ALRM opened at $58.47 on Wednesday. The company has a market cap of $2.92 billion, a P/E ratio of 46.04, a P/E/G ratio of 9.95 and a beta of 0.96. The firm’s 50 day moving average is $54.85 and its two-hundred day moving average is $51.37. Alarm.com Holdings, Inc. has a fifty-two week low of $44.92 and a fifty-two week high of $71.85. The company has a quick ratio of 4.70, a current ratio of 5.41 and a debt-to-equity ratio of 0.76.

Alarm.com (NASDAQ:ALRM – Get Free Report) last issued its earnings results on Wednesday, August 9th. The software maker reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.17. Alarm.com had a return on equity of 10.70% and a net margin of 7.77%. The business had revenue of $223.88 million for the quarter, compared to analyst estimates of $214.75 million. Analysts expect that Alarm.com Holdings, Inc. will post 0.91 EPS for the current year.

Insider Transactions at Alarm.com

In related news, insider Daniel Ramos sold 8,735 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $59.78, for a total transaction of $522,178.30. Following the completion of the sale, the insider now owns 40,495 shares of the company’s stock, valued at approximately $2,420,791.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Daniel Ramos sold 8,735 shares of Alarm.com stock in a transaction on Monday, August 14th. The shares were sold at an average price of $59.78, for a total transaction of $522,178.30. Following the transaction, the insider now owns 40,495 shares in the company, valued at approximately $2,420,791.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steve Valenzuela sold 5,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $58.48, for a total value of $292,400.00. Following the completion of the sale, the chief financial officer now owns 40,193 shares of the company’s stock, valued at $2,350,486.64. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on ALRM shares. MKM Partners lifted their price objective on Alarm.com from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Raymond James boosted their price objective on shares of Alarm.com from $65.00 to $70.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 10th. Northland Securities raised their target price on shares of Alarm.com from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. Barclays boosted their price target on Alarm.com from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. Finally, StockNews.com began coverage on Alarm.com in a research note on Thursday, August 17th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $65.17.

Check Out Our Latest Analysis on Alarm.com

Alarm.com Profile

(Free Report)

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 in 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 escalated events, video doorbells, intelligent integration, live streaming, secure cloud storage, and video alerts.