Norges Bank bought a new stake in AlarmCom Hldg Inc (NASDAQ:ALRM) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 650,450 shares of the software maker’s stock, valued at approximately $33,739,000.
Other hedge funds also recently bought and sold shares of the company. Winslow Evans & Crocker Inc. purchased a new stake in AlarmCom in the 4th quarter valued at approximately $130,000. We Are One Seven LLC purchased a new stake in AlarmCom in the 4th quarter valued at approximately $167,000. Riverhead Capital Management LLC lifted its stake in AlarmCom by 168.8% in the 3rd quarter. Riverhead Capital Management LLC now owns 4,300 shares of the software maker’s stock valued at $247,000 after buying an additional 2,700 shares in the last quarter. Nwam LLC lifted its stake in AlarmCom by 27.8% in the 4th quarter. Nwam LLC now owns 4,600 shares of the software maker’s stock valued at $239,000 after buying an additional 1,000 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in AlarmCom in the 4th quarter valued at approximately $255,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on ALRM. BidaskClub lowered AlarmCom from a “buy” rating to a “hold” rating in a research note on Thursday, December 20th. Zacks Investment Research raised AlarmCom from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Tuesday, January 1st. ValuEngine raised AlarmCom from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 4th. Maxim Group reissued a “buy” rating and set a $74.00 price target (up previously from $69.00) on shares of AlarmCom in a research note on Friday, March 1st. Finally, Raymond James increased their price target on AlarmCom from $58.00 to $70.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $58.42.
In other news, insider Stephen Trundle sold 15,000 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $64.71, for a total transaction of $970,650.00. Following the completion of the sale, the insider now directly owns 237,443 shares in the company, valued at approximately $15,364,936.53. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steve Valenzuela sold 1,084 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $63.05, for a total value of $68,346.20. Following the sale, the chief financial officer now owns 29,133 shares of the company’s stock, valued at $1,836,835.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,489 shares of company stock worth $1,449,876. Corporate insiders own 37.10% of the company’s stock.
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AlarmCom Company Profile
Alarm.com Holdings, Inc provides cloud-based software platform solutions for smart residential and commercial properties in the United States and internationally. The company provides interactive security solutions to control and monitor their security systems, as well as connected security devices, including door locks, motion sensors, thermostats, garage doors, and video cameras; and high definition video monitoring solutions, such as live streaming, smart clip capture, secure cloud storage, video alerts, continuous HD recording, and commercial video surveillance solutions.
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