Why Alarm.com Execs Are Selling Off Their Stocks
Now is the time to sell as Alarm.com stocks see record share price.
TYSONS, Va. -According to recent Securities and Exchange Commission filings, two top executives at Alarm.com have sold nearly $2 million in stocks and options over the last few weeks.
SEC filings from May 26 show that Senior Vice President for Corporate Development Daniel Ramos sold 40,000 shares of company stock for $32.40 per share, for a total sale amount of $1.296 million.
Chief Technology Officer Jean-Paul Martin used options to purchase 20,000 shares of stock for 41 cents per share and sold them for $32.11 each, per SEC filings from June 2.
READ: Alarm.com Announces Google Home Integration
This should come as no surprise as the smart security and automation company has been riding high as of late.
Last month, Alarm.com announced it had bested wall street estimates, reporting revenue of $74.2 million in the first quarter.
The company posted revenue of $69.8 million in Q4, which also beat analyst forecasts. Five analysts surveyed by Zacks projected $64 million.
Earlier this year, the company acquired video analytics specialist ObjectVideo as well as former competitor Icontrol, although not without a fight from Honeywell.
READ NEXT: Alarm.com Acquires Icontrol, Settles Honeywell Lawsuit
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