Quest Partners LLC Sells 18,828 Shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Quest Partners LLC cut its holdings in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 34.3% during the third quarter, Holdings Channel.com reports. The fund owned 36,020 shares of the software maker’s stock after selling 18,828 shares during the period. Quest Partners LLC’s holdings in Alarm.com were worth $1,969,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ALRM. Thrivent Financial for Lutherans boosted its stake in Alarm.com by 2.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 42,635 shares of the software maker’s stock worth $2,330,000 after purchasing an additional 971 shares during the period. Huntington National Bank grew its stake in Alarm.com by 52.4% during the third quarter. Huntington National Bank now owns 1,068 shares of the software maker’s stock valued at $58,000 after acquiring an additional 367 shares in the last quarter. Geneva Capital Management LLC increased its holdings in Alarm.com by 0.8% in 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 acquiring an additional 10,630 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Alarm.com by 369.7% during 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 last quarter. Finally, Aigen Investment Management LP purchased a new position in shares of Alarm.com during the third quarter valued at about $558,000. Institutional investors own 91.74% of the company’s stock.

Alarm.com Stock Down 0.8 %

Shares of NASDAQ ALRM opened at $59.35 on Tuesday. The company has a market cap of $2.93 billion, a P/E ratio of 25.69, a PEG ratio of 4.08 and a beta of 0.90. The firm has a 50-day simple moving average of $55.09 and a two-hundred day simple moving average of $61.11. Alarm.com Holdings, Inc. has a 1 year low of $51.87 and a 1 year 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.

Analyst Upgrades and Downgrades

ALRM has been the subject of several research analyst reports. Roth Mkm cut their price target on Alarm.com from $78.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Barclays boosted their price target on shares of Alarm.com from $60.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. StockNews.com cut shares of Alarm.com from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reaffirmed 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. Finally, Jefferies Financial Group began coverage on Alarm.com in a research note on Tuesday, November 5th. They set a “buy” rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $64.40.

Insider Buying and Selling

In related news, CFO Steve Valenzuela sold 7,400 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $60.27, for a total value of $445,998.00. Following the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Ramos sold 9,476 shares of Alarm.com stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $61.81, for a total value of $585,711.56. Following the sale, the insider now directly 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 disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

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.