PNC Financial Services Group Inc. Cuts Stock Position in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

PNC Financial Services Group Inc. lowered its holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,212 shares of the software maker’s stock after selling 947 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alarm.com were worth $1,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust grew its position in shares of Alarm.com by 8.3% during the second 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. Arizona State Retirement System raised its holdings in Alarm.com by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 13,283 shares of the software maker’s stock valued at $844,000 after buying an additional 232 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Alarm.com by 4.6% in the 2nd quarter. QRG Capital Management Inc. now owns 5,991 shares of the software maker’s stock worth $381,000 after acquiring an additional 266 shares during the last quarter. Huntington National Bank boosted its position in shares of 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 buying an additional 367 shares during the period. Finally, Louisiana State Employees Retirement System grew its position in Alarm.com by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the software maker’s stock valued at $1,608,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 91.74% of the company’s stock.

Insider Activity

In other Alarm.com news, Director Stephen C. Evans sold 2,625 shares of Alarm.com 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 sale, the director now directly owns 5,767 shares in the company, valued at $344,116.89. The trade was a 31.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

ALRM has been the subject of a number of recent research reports. StockNews.com raised shares of Alarm.com from a “hold” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group upped their price target on shares of Alarm.com from $64.00 to $67.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Roth Mkm reduced their price objective on Alarm.com from $78.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. restated an “underweight” rating and set a $50.00 target price (down from $65.00) on shares of Alarm.com in a research report on Monday, November 11th. Finally, Barclays upped their price objective on Alarm.com from $60.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $64.40.

Alarm.com Stock Performance

ALRM opened at $64.17 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 8.66 and a quick ratio of 8.20. Alarm.com Holdings, Inc. has a 1-year low of $51.87 and a 1-year high of $77.29. The stock has a market cap of $3.17 billion, a P/E ratio of 27.78, a P/E/G ratio of 3.88 and a beta of 0.90. The stock’s 50 day simple moving average is $56.09 and its 200 day simple moving average is $60.76.

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.