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

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

Other hedge funds have also modified their holdings of the company. Centaurus Financial Inc. raised its stake in Alarm.com by 3.7% during the 3rd quarter. Centaurus Financial Inc. now owns 236,644 shares of the software maker's stock worth $12,937,000 after buying an additional 8,456 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Alarm.com by 312.9% in the second quarter. Hsbc Holdings PLC now owns 21,939 shares of the software maker's stock worth $1,399,000 after acquiring an additional 16,625 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Alarm.com during the second quarter worth about $599,000. Squarepoint Ops LLC lifted its holdings in shares of Alarm.com by 630.1% during the 2nd quarter. Squarepoint Ops LLC now owns 97,847 shares of the software maker's stock valued at $6,217,000 after purchasing an additional 84,445 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Alarm.com by 369.7% in the 3rd quarter. Victory Capital Management Inc. now owns 69,545 shares of the software maker's stock valued at $3,802,000 after purchasing an additional 54,738 shares during the period. 91.74% of the stock is currently owned by institutional investors and hedge funds.

Alarm.com Stock Down 1.4 %

NASDAQ:ALRM traded down $0.91 on Friday, hitting $62.07. 192,169 shares of the company's stock were exchanged, compared to its average volume of 381,295. The firm has a 50-day moving average price of $61.41 and a 200-day moving average price of $60.68. Alarm.com Holdings, Inc. has a 52 week low of $51.87 and a 52 week high of $77.29. The company has a debt-to-equity ratio of 1.42, a current ratio of 8.66 and a quick ratio of 8.20. The company has a market cap of $3.07 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 4.08 and a beta of 0.97.

Insider Buying and Selling

In other Alarm.com news, Director Stephen C. Evans sold 2,625 shares of Alarm.com stock in a transaction on Wednesday, November 20th. The shares were 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. The trade was a 31.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel Kerzner sold 32,851 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $66.40, for a total transaction of $2,181,306.40. Following the completion of the transaction, the insider now directly owns 59,668 shares in the company, valued at $3,961,955.20. The trade was a 35.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,976 shares of company stock worth $5,576,490. Corporate insiders own 5.60% of the company's stock.

Analyst Upgrades and Downgrades

ALRM has been the topic of several research analyst reports. StockNews.com upgraded shares of Alarm.com from a "hold" rating to a "buy" rating in a report on Wednesday, December 18th. Jefferies Financial Group began coverage on shares of Alarm.com in a report on Tuesday, November 5th. They set a "buy" rating and a $65.00 price objective on the stock. Barclays upped their target price on shares of Alarm.com from $60.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. 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 research note on Monday, November 11th. Finally, Roth Mkm cut their price target on Alarm.com from $78.00 to $73.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $64.40.

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.