The Goldman Sachs Group Cuts Alarm.com (NASDAQ:ALRM) Price Target to $58.00

Alarm.com (NASDAQ:ALRM) had its target price reduced by investment analysts at The Goldman Sachs Group from $66.00 to $58.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 14.85% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. StockNews.com upgraded shares of Alarm.com from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Barclays cut their price target on shares of Alarm.com from $67.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.20.

Alarm.com Price Performance

Shares of ALRM stock traded down $0.10 on Thursday, reaching $50.50. The company had a trading volume of 72,490 shares, compared to its average volume of 412,385. The stock has a market capitalization of $2.51 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. The company has a quick ratio of 7.38, a current ratio of 7.85 and a debt-to-equity ratio of 1.35. The business’s 50-day moving average is $57.18 and its 200 day moving average is $59.08. Alarm.com has a one year low of $48.23 and a one year high of $71.98.

Alarm.com (NASDAQ:ALRM) last posted its earnings results on Thursday, February 20th. The software maker reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.06). Alarm.com had a return on equity of 13.55% and a net margin of 13.21%. The company had revenue of $242.24 million for the quarter, compared to the consensus estimate of $237.44 million. Equities research analysts forecast that Alarm.com will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling at Alarm.com

In other news, CEO Stephen Trundle sold 1,553 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $55.49, for a total value of $86,175.97. Following the completion of the sale, the chief executive officer now directly owns 251,129 shares in the company, valued at $13,935,148.21. This trade represents a 0.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Steve Valenzuela sold 3,436 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $58.45, for a total value of $200,834.20. Following the transaction, the chief financial officer now directly owns 37,500 shares in the company, valued at approximately $2,191,875. This trade represents a 8.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,921 shares of company stock valued at $338,727. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alarm.com

Institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in Alarm.com during the 4th quarter valued at $25,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Alarm.com in the 4th quarter worth about $36,000. Nisa Investment Advisors LLC lifted its position in Alarm.com by 134.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 939 shares of the software maker’s stock valued at $57,000 after acquiring an additional 539 shares in the last quarter. 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 last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Alarm.com by 305.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,034 shares of the software maker’s stock worth $63,000 after purchasing an additional 779 shares in the last quarter. 91.74% of the stock is owned by institutional investors and hedge funds.

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.