Canada Pension Plan Investment Board Acquires New Stake in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Canada Pension Plan Investment Board bought a new stake in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,700 shares of the software maker’s stock, valued at approximately $108,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Alarm.com during the fourth quarter worth about $33,277,000. Federated Hermes Inc. lifted its holdings in Alarm.com by 1,729.4% during the 2nd quarter. Federated Hermes Inc. now owns 118,231 shares of the software maker’s stock worth $7,512,000 after buying an additional 111,768 shares in the last quarter. Acadian Asset Management LLC boosted its position in Alarm.com by 267.6% in the 1st quarter. Acadian Asset Management LLC now owns 108,882 shares of the software maker’s stock valued at $7,881,000 after buying an additional 79,265 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Alarm.com by 15.8% in the second quarter. Bank of New York Mellon Corp now owns 472,948 shares of the software maker’s stock worth $30,051,000 after acquiring an additional 64,424 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Alarm.com by 1.1% during the first quarter. Vanguard Group Inc. now owns 5,880,922 shares of the software maker’s stock worth $426,190,000 after acquiring an additional 63,653 shares during the period. 91.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Alarm.com Stock Up 2.1 %

Shares of NASDAQ ALRM opened at $55.33 on Friday. The business has a 50-day moving average of $60.27 and a two-hundred day moving average of $64.64. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. Alarm.com Holdings, Inc. has a 1 year low of $49.70 and a 1 year high of $77.29. The company has a debt-to-equity ratio of 1.52, a current ratio of 9.25 and a quick ratio of 8.70.

Alarm.com (NASDAQ:ALRM) last posted its 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 firm had revenue of $233.80 million during the quarter, compared to analysts’ expectations of $227.35 million. Alarm.com had a return on equity of 13.00% and a net margin of 11.92%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, analysts forecast that Alarm.com Holdings, Inc. will post 1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALRM has been the subject of a number of recent research reports. StockNews.com upgraded Alarm.com from a “hold” rating to a “buy” rating in a report on Friday, September 13th. The Goldman Sachs Group initiated coverage on Alarm.com in a research report on Friday, September 6th. They set a “neutral” rating and a $64.00 price objective for the company. Finally, Barclays reduced their target price on shares of Alarm.com from $78.00 to $72.00 and set an “equal weight” rating on the stock in a report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $69.00.

Alarm.com 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.