Brown Capital Management LLC Has $153.29 Million Stake in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Brown Capital Management LLC cut its holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 12.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and 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 makes up approximately 3.3% of Brown Capital Management LLC’s portfolio, making the stock its 14th biggest position. Brown Capital Management LLC owned approximately 5.69% of Alarm.com worth $153,288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALRM. Oakworth Capital Inc. acquired a new position in Alarm.com in the third quarter valued at approximately $38,000. Huntington National Bank increased its holdings in shares of Alarm.com by 52.4% during the third quarter. Huntington National Bank now owns 1,068 shares of the software maker’s stock valued at $58,000 after acquiring an additional 367 shares in the last quarter. Point72 DIFC Ltd raised its position in shares of Alarm.com by 293.6% during the second quarter. Point72 DIFC Ltd now owns 1,476 shares of the software maker’s stock worth $94,000 after purchasing an additional 1,101 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Alarm.com in the 2nd quarter worth $108,000. Finally, CWM LLC increased its stake in Alarm.com by 42.0% during the 2nd quarter. CWM LLC now owns 2,088 shares of the software maker’s stock valued at $133,000 after purchasing an additional 618 shares in the last quarter. 91.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alarm.com news, Director Stephen C. Evans sold 2,625 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $59.67, for a total value of $156,633.75. Following the completion of the sale, the director now owns 5,767 shares in the company, valued at approximately $344,116.89. The trade was a 31.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel Ramos sold 9,476 shares of Alarm.com stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $61.81, for a total transaction of $585,711.56. Following the completion of the transaction, the insider now directly owns 41,100 shares in the company, valued at approximately $2,540,391. The trade was a 18.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ALRM. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $50.00 price target (down previously from $65.00) on shares of Alarm.com in a research report on Monday, November 11th. Roth Mkm reduced their price objective on shares of Alarm.com from $78.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Barclays upped their target price on Alarm.com from $60.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. The Goldman Sachs Group raised their price objective on shares of Alarm.com from $64.00 to $67.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, StockNews.com lowered shares of Alarm.com from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $64.40.

Alarm.com Stock Performance

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

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.