Brown Capital Management LLC Sells 395,711 Shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Brown Capital Management LLC lowered its stake in Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 12.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,803,880 shares of the software maker’s stock after selling 395,711 shares during the period. Alarm.com accounts for approximately 3.3% of Brown Capital Management LLC’s holdings, making the stock its 14th biggest holding. Brown Capital Management LLC owned 0.06% of Alarm.com worth $153,288,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its stake in shares of 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 purchasing an additional 183 shares during the period. Arizona State Retirement System grew its position in shares of Alarm.com by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 13,283 shares of the software maker’s stock worth $844,000 after buying an additional 232 shares during the period. QRG Capital Management Inc. lifted its position in Alarm.com by 4.6% during the 2nd quarter. QRG Capital Management Inc. now owns 5,991 shares of the software maker’s stock valued at $381,000 after acquiring an additional 266 shares during the period. Huntington National Bank boosted its stake in Alarm.com by 52.4% during the third quarter. Huntington National Bank now owns 1,068 shares of the software maker’s stock worth $58,000 after acquiring an additional 367 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Alarm.com by 15.2% during the first quarter. SG Americas Securities LLC now owns 3,384 shares of the software maker’s stock valued at $245,000 after purchasing an additional 446 shares during the last quarter. 91.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ALRM shares. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $50.00 price objective (down previously from $65.00) on shares of Alarm.com in a research note on Monday, November 11th. StockNews.com lowered Alarm.com from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Jefferies Financial Group initiated coverage on shares of Alarm.com in a research report on Tuesday, November 5th. They set a “buy” rating and a $65.00 price objective on the stock. Barclays lifted their target price on shares of Alarm.com from $60.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, Roth Mkm cut their price target on shares of Alarm.com from $78.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Alarm.com currently has a consensus rating of “Hold” and an average price target of $64.40.

Alarm.com Stock Performance

Shares of ALRM stock opened at $60.20 on Thursday. The company has a quick ratio of 8.20, a current ratio of 8.66 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average price of $55.40 and a 200-day moving average price of $60.99. Alarm.com Holdings, Inc. has a 52 week low of $51.87 and a 52 week high of $77.29. The firm has a market capitalization of $2.98 billion, a PE ratio of 26.06, a P/E/G ratio of 3.58 and a beta of 0.90.

Insiders Place Their Bets

In related news, Director Stephen C. Evans sold 2,625 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $59.67, for a total value of $156,633.75. Following the transaction, the director now owns 5,767 shares of the company’s stock, valued at approximately $344,116.89. This trade represents a 31.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Daniel Ramos sold 9,476 shares of the company’s 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 sale, the insider now directly owns 41,100 shares of the company’s stock, valued at approximately $2,540,391. This represents a 18.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by 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.