Bank of New York Mellon Corp Lowers Stock Holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Bank of New York Mellon Corp lowered its position in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 4.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,068 shares of the software maker’s stock after selling 16,293 shares during the period. Bank of New York Mellon Corp owned 0.75% of Alarm.com worth $20,650,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. C M Bidwell & Associates Ltd. acquired a new position in Alarm.com during the fourth quarter worth about $36,000. Bessemer Group Inc. boosted its holdings in shares of Alarm.com by 304.6% in the 1st quarter. Bessemer Group Inc. now owns 708 shares of the software maker’s stock valued at $39,000 after buying an additional 533 shares during the period. Quarry LP boosted its stake in Alarm.com by 43.0% during the 4th quarter. Quarry LP now owns 1,008 shares of the software maker’s stock valued at $61,000 after purchasing an additional 303 shares during the period. GAMMA Investing LLC lifted its stake in shares of Alarm.com by 87.9% in the 1st quarter. GAMMA Investing LLC now owns 1,964 shares of the software maker’s stock worth $109,000 after acquiring an additional 919 shares during the period. Finally, KBC Group NV lifted its stake in Alarm.com by 10.8% during the first quarter. KBC Group NV now owns 2,128 shares of the software maker’s stock valued at $118,000 after purchasing an additional 208 shares during the last quarter. Institutional investors and hedge funds own 91.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ALRM. Raymond James Financial cut their target price on shares of Alarm.com from $85.00 to $80.00 and set a “strong-buy” rating for the company in a research report on Friday, May 9th. Barclays dropped their price target on Alarm.com from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group decreased their target price on Alarm.com from $66.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

Alarm.com Stock Performance

Shares of ALRM opened at $55.51 on Friday. The stock has a 50-day moving average price of $57.34 and a 200-day moving average price of $57.54. The company has a market cap of $2.76 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 2.93 and a beta of 0.99. Alarm.com Holdings, Inc. has a 12-month low of $48.23 and a 12-month high of $71.98. The company has a current ratio of 2.14, a quick ratio of 2.01 and a debt-to-equity ratio of 0.64.

Insiders Place Their Bets

In other news, insider Jeffrey A. Bedell sold 2,204 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $56.66, for a total value of $124,878.64. Following the transaction, the insider owned 505,805 shares of the company’s stock, valued at $28,658,911.30. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen Trundle sold 3,644 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $56.66, for a total value of $206,469.04. Following the transaction, the chief executive officer owned 268,859 shares of the company’s stock, valued at $15,233,550.94. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,167 shares of company stock valued at $1,994,181 over the last three months. 5.80% of the stock is currently owned by corporate 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.