Jennison Associates LLC Grows Holdings in Alarm.com Holdings, Inc. (NASDAQ:ALRM)

Jennison Associates LLC boosted its holdings in shares of Alarm.com Holdings, Inc. (NASDAQ:ALRM) by 75.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,118 shares of the software maker’s stock after purchasing an additional 5,632 shares during the period. Jennison Associates LLC’s holdings in Alarm.com were worth $717,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of ALRM. Parkside Financial Bank & Trust increased its position in Alarm.com by 8.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,381 shares of the software maker’s stock valued at $151,000 after acquiring an additional 183 shares during the period. Arizona State Retirement System raised its stake in shares of Alarm.com by 1.8% during the second quarter. Arizona State Retirement System now owns 13,283 shares of the software maker’s stock worth $844,000 after purchasing an additional 232 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Alarm.com by 4.6% during the second quarter. QRG Capital Management Inc. now owns 5,991 shares of the software maker’s stock worth $381,000 after purchasing an additional 266 shares during the period. Huntington National Bank grew its position in Alarm.com by 52.4% in the 3rd 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 last quarter. Finally, Louisiana State Employees Retirement System increased its stake 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 buying an additional 500 shares during the period. 91.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALRM. Jefferies Financial Group began coverage on shares of Alarm.com in a research note on Tuesday, November 5th. They issued a “buy” rating and a $65.00 target price for the company. The Goldman Sachs Group raised their price objective on shares of Alarm.com from $64.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. StockNews.com cut Alarm.com from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $50.00 price target (down from $65.00) on shares of Alarm.com in a 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 report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Alarm.com currently has an average rating of “Hold” and an average price target of $64.40.

Insider Buying and Selling

In other news, Director Stephen C. Evans sold 2,625 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $59.67, for a total value of $156,633.75. Following the completion of the transaction, the director now owns 5,767 shares in the company, valued at $344,116.89. This trade represents a 31.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is currently owned by insiders.

Alarm.com Price Performance

Shares of NASDAQ:ALRM opened at $62.32 on Friday. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 3.64 and a beta of 0.90. 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 business’s 50 day simple moving average is $55.67 and its 200-day simple moving average is $60.93. Alarm.com Holdings, Inc. has a 12 month low of $51.87 and a 12 month high of $77.29.

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.