Cornercap Investment Counsel Inc. Sells 7,730 Shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Cornercap Investment Counsel Inc. lessened its position in Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 50.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,603 shares of the software maker’s stock after selling 7,730 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Alarm.com were worth $416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Alarm.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,880,922 shares of the software maker’s stock worth $426,190,000 after purchasing an additional 63,653 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Alarm.com by 6.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 2,710,998 shares of the software maker’s stock worth $172,257,000 after acquiring an additional 158,465 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in Alarm.com by 0.8% during the 3rd quarter. Geneva Capital Management LLC now owns 1,307,482 shares of the software maker’s stock valued at $71,480,000 after buying an additional 10,630 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Alarm.com by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,162,877 shares of the software maker’s stock valued at $73,889,000 after buying an additional 42,281 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Alarm.com by 15.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,948 shares of the software maker’s stock valued at $30,051,000 after purchasing an additional 64,424 shares during the period. Institutional investors own 91.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Alarm.com

In related news, CFO Steve Valenzuela sold 7,400 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $60.27, for a total value of $445,998.00. Following the sale, the chief financial officer now directly owns 37,500 shares in the company, valued at $2,260,125. The trade was a 16.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Ramos sold 9,476 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 of the company’s stock, valued at $2,540,391. The trade was a 18.74 % decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Alarm.com Stock Down 0.1 %

ALRM stock opened at $59.85 on Friday. The company’s 50 day moving average is $55.09 and its two-hundred day moving average is $61.15. The stock has a market cap of $2.96 billion, a P/E ratio of 25.91, a PEG ratio of 4.25 and a beta of 0.90. Alarm.com Holdings, Inc. has a twelve month low of $51.87 and a twelve month high of $77.29. The company has a current ratio of 8.66, a quick ratio of 8.20 and a debt-to-equity ratio of 1.42.

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.