Alarm.com (NASDAQ:ALRM) Price Target Cut to $40.00 by Analysts at JPMorgan Chase & Co.

Alarm.com (NASDAQ:ALRM) had its price target trimmed by JPMorgan Chase & Co. from $55.00 to $40.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the software maker’s stock.

Several other research firms have also commented on ALRM. Weiss Ratings reissued a “hold (c-)” rating on shares of Alarm.com in a research report on Tuesday, January 27th. Barclays cut their target price on Alarm.com from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Finally, Zacks Research lowered shares of Alarm.com from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $58.50.

Alarm.com Trading Down 0.4%

NASDAQ:ALRM opened at $45.21 on Wednesday. The firm has a 50-day simple moving average of $49.93 and a 200-day simple moving average of $51.97. Alarm.com has a one year low of $44.81 and a one year high of $61.41. The firm has a market cap of $2.26 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.66 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.92 and a current ratio of 2.06.

Insider Activity

In other Alarm.com news, insider Jeffrey A. Bedell sold 22,727 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $51.82, for a total transaction of $1,177,713.14. Following the sale, the insider owned 505,805 shares of the company’s stock, valued at approximately $26,210,815.10. The trade was a 4.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen C. Evans sold 1,154 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $52.27, for a total transaction of $60,319.58. Following the transaction, the director owned 6,123 shares in the company, valued at $320,049.21. The trade was a 15.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 26,154 shares of company stock worth $1,357,388. Corporate insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank of Montreal Can increased its holdings in Alarm.com by 625.1% in the 4th quarter. Bank of Montreal Can now owns 2,231,227 shares of the software maker’s stock worth $113,837,000 after buying an additional 1,923,525 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Alarm.com by 101,569.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 947,556 shares of the software maker’s stock valued at $48,344,000 after acquiring an additional 946,624 shares during the last quarter. Norges Bank acquired a new stake in shares of Alarm.com in the second quarter worth $33,459,000. SG Americas Securities LLC raised its holdings in shares of Alarm.com by 1,540.0% during the fourth quarter. SG Americas Securities LLC now owns 260,923 shares of the software maker’s stock worth $13,312,000 after purchasing an additional 245,013 shares during the last quarter. Finally, Nuveen LLC raised its holdings in shares of Alarm.com by 197.3% during the fourth quarter. Nuveen LLC now owns 316,427 shares of the software maker’s stock worth $16,144,000 after purchasing an additional 209,995 shares during the last quarter. 91.74% of the stock is currently owned by hedge funds and other institutional investors.

About Alarm.com

Alarm.com Holdings, Inc provides a cloud-based software platform for connected properties, enabling residential and commercial customers to monitor, manage and control security, energy and home automation solutions. The company’s interactive services connect security systems, smart thermostats, door locks, lights and video cameras through cellular, broadband and Z-Wave networks, offering real-time alerts and remote access via mobile and web applications.

Through its platform, Alarm.com delivers an integrated suite of products that includes intrusion detection, video monitoring and cloud recording, energy management features such as smart thermostat scheduling, and home automation controls for lighting, garage doors and connected appliances.