Daniel Kerzner, President of Platforms Business at Alarm.com Holdings , Inc. (NASDAQ:ALRM), a company currently valued at $3.35 billion with a "GREAT" InvestingPro Financial Health score, recently sold a significant portion of company stock. On December 13, Kerzner sold 32,851 shares of common stock at an average price of $66.40 per share, totaling approximately $2.18 million. This transaction follows an earlier exercise of stock options, where Kerzner acquired 25,000 shares at a price of $15.02 per share. Following these transactions, Kerzner holds 59,668 shares of Alarm.com common stock. The stock has shown strong momentum with notable returns over the past three months, though InvestingPro analysis indicates it's currently trading in overbought territory. Investors seeking deeper insights can access 12 additional ProTips and a comprehensive Pro Research Report covering Alarm.com's valuation and growth prospects on InvestingPro.
In other recent news, Alarm.com's Q3 performance exceeded revenue projections, leading to stock target upgrades from Barclays (LON:BARC) and Goldman Sachs, and analyst initiations from Jefferies and JPMorgan. Alarm.com's robust hardware sales and a retention rate of 95% were key contributors to this strong performance. Despite Alarm.com's positive Q3 results, JPMorgan initiated the company with an Underweight rating due to concerns about potential revenue challenges and limited opportunities for margin improvement.
Alarm.com's recent developments include the completion of a $500 million convertible notes offering and the introduction of generative AI to the service provider support platform. The company's full-year 2024 Software (ETR:SOWGn) as a Service (SaaS) and license revenue expectations have been raised to between $626.8 million and $627.2 million, with total revenue estimated to be between $920.8 million and $931.2 million.
Analyst firms Jefferies and Roth/MKM have also weighed in on Alarm.com. Jefferies initiated coverage with a Buy rating and a price target of $65, citing the company's sustainable growth and profitability. Roth/MKM maintained a Buy rating but lowered the stock's price target to $73, pointing to the company's growth prospects in video, commercial, and international markets.
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