Louisiana State Employees Retirement System Has $1.35 Million Stock Holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Posted by Defense World Staff on Oct 4th, 2023

Louisiana State Employees Retirement System grew its holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM – Free Report) by 12.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,200 shares of the software maker’s stock after buying an additional 2,900 shares during the quarter. Louisiana State Employees Retirement System owned 0.05% of Alarm.com worth $1,354,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC grew its holdings in shares of Alarm.com by 5.8% in the 1st quarter. HighTower Advisors LLC now owns 14,646 shares of the software maker’s stock worth $975,000 after purchasing an additional 800 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Alarm.com by 53.5% in the 1st quarter. MetLife Investment Management LLC now owns 25,138 shares of the software maker’s stock worth $1,671,000 after purchasing an additional 8,765 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Alarm.com by 5.8% in the 1st quarter. Rhumbline Advisers now owns 114,173 shares of the software maker’s stock worth $7,588,000 after purchasing an additional 6,295 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of Alarm.com by 1.3% in the 1st quarter. Yousif Capital Management LLC now owns 41,740 shares of the software maker’s stock worth $2,774,000 after purchasing an additional 540 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Alarm.com by 44.0% in the 1st quarter. Mackenzie Financial Corp now owns 3,738 shares of the software maker’s stock worth $248,000 after purchasing an additional 1,143 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ALRM shares. Barclays upped their target price on shares of Alarm.com from $57.00 to $61.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. TheStreet raised shares of Alarm.com from a “c+” rating to a “b-” rating in a report on Friday, September 22nd. Roth Mkm increased their price objective on shares of Alarm.com from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, September 19th. MKM Partners upped their target price on shares of Alarm.com from $59.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, Raymond James upped their target price 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. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $65.43.

Read Our Latest Stock Analysis on ALRM

Insiders Place Their Bets

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

Alarm.com Stock Performance

Shares of NASDAQ:ALRM opened at $59.46 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.41 and a quick ratio of 4.70. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 46.82, a P/E/G ratio of 10.22 and a beta of 0.93. The firm’s 50 day simple moving average is $57.78 and its 200 day simple moving average is $52.71. Alarm.com Holdings, Inc. has a fifty-two week low of $44.92 and a fifty-two week high of $67.67.

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

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.