Principal Financial Group Inc. Has $13.87 Million Stock Holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Principal Financial Group Inc. trimmed its position in Alarm.com Holdings, Inc. (NASDAQ:ALRM - Free Report) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 253,770 shares of the software maker's stock after selling 10,792 shares during the period. Principal Financial Group Inc. owned approximately 0.51% of Alarm.com worth $13,874,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Oakworth Capital Inc. bought a new stake in shares of Alarm.com in the 3rd quarter worth $38,000. Point72 DIFC Ltd raised its position in Alarm.com by 293.6% in the second quarter. Point72 DIFC Ltd now owns 1,476 shares of the software maker's stock worth $94,000 after acquiring an additional 1,101 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Alarm.com in the second quarter worth about $108,000. CWM LLC lifted its holdings in Alarm.com by 42.0% in the 2nd quarter. CWM LLC now owns 2,088 shares of the software maker's stock valued at $133,000 after acquiring an additional 618 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Alarm.com by 8.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the software maker's stock valued at $151,000 after purchasing an additional 183 shares in the last quarter. 91.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alarm.com

In related news, insider Daniel Ramos sold 9,476 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $61.81, for a total transaction of $585,711.56. Following the transaction, the insider now owns 41,100 shares of the company's stock, valued at approximately $2,540,391. This trade represents a 18.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steve Valenzuela sold 7,400 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $60.27, for a total transaction of $445,998.00. Following the completion of the sale, the chief financial officer now directly owns 37,500 shares of the company's stock, valued at $2,260,125. This represents a 16.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.60% of the company's stock.

Alarm.com Trading Down 0.1 %

Shares of NASDAQ:ALRM opened at $59.85 on Friday. The firm has a fifty day moving average of $55.09 and a two-hundred day moving average of $61.15. The company has a quick ratio of 8.20, a current ratio of 8.66 and a debt-to-equity ratio of 1.42. Alarm.com Holdings, Inc. has a 12-month low of $51.87 and a 12-month high of $77.29. The firm has a market capitalization of $2.96 billion, a P/E ratio of 25.91, a price-to-earnings-growth ratio of 4.25 and a beta of 0.90.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Alarm.com in a report on Tuesday, November 5th. They issued a "buy" rating and a $65.00 target price on the stock. Barclays upped their price target 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 Alarm.com from $64.00 to $67.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. StockNews.com lowered Alarm.com from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Roth Mkm reduced their target price on Alarm.com from $78.00 to $73.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $64.40.

Alarm.com Company 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.