Brown Capital Management LLC Trims Stock Holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Brown Capital Management LLC cut its position in Alarm.com Holdings, Inc. (NASDAQ:ALRM - Free Report) by 12.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,803,880 shares of the software maker's stock after selling 395,711 shares during the period. Alarm.com accounts for approximately 3.3% of Brown Capital Management LLC's investment portfolio, making the stock its 14th biggest holding. Brown Capital Management LLC owned about 5.69% of Alarm.com worth $153,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Alarm.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 5,880,922 shares of the software maker's stock valued at $426,190,000 after buying an additional 63,653 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in 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 buying an additional 158,465 shares during the period. Geneva Capital Management LLC increased its position in shares of Alarm.com by 0.8% during the third 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 during the period. Dimensional Fund Advisors LP boosted its stake in Alarm.com by 3.8% during the second 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 during the period. Finally, Bank of New York Mellon Corp grew its stake in Alarm.com by 15.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 472,948 shares of the software maker's stock worth $30,051,000 after buying an additional 64,424 shares in the last quarter. Institutional investors own 91.74% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ALRM shares. Jefferies Financial Group started coverage on Alarm.com in a report on Tuesday, November 5th. They issued a "buy" rating and a $65.00 price objective on the stock. StockNews.com cut shares of Alarm.com from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Roth Mkm dropped 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 report on Wednesday, October 9th. Barclays raised their price objective on Alarm.com from $60.00 to $67.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $50.00 price target (down from $65.00) on shares of Alarm.com in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $64.40.

Alarm.com Stock Up 0.5 %

Alarm.com stock traded up $0.31 during midday trading on Thursday, hitting $60.52. 206,856 shares of the company's stock were exchanged, compared to its average volume of 374,446. Alarm.com Holdings, Inc. has a 12 month low of $51.87 and a 12 month high of $77.29. The company has a debt-to-equity ratio of 1.42, a quick ratio of 8.20 and a current ratio of 8.66. The company has a market cap of $2.99 billion, a PE ratio of 26.16, a P/E/G ratio of 3.58 and a beta of 0.90. The firm has a 50-day moving average of $55.40 and a two-hundred day moving average of $60.99.

Insider Activity at Alarm.com

In other news, Director Stephen C. Evans sold 2,625 shares of the company'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 transaction of $156,633.75. Following the completion of the transaction, the director now directly owns 5,767 shares of the company's stock, valued at $344,116.89. This represents a 31.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel Ramos sold 9,476 shares of Alarm.com stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $61.81, for a total value of $585,711.56. Following the completion of the sale, the insider now 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. 5.60% 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.