Envestnet Asset Management Inc. Buys 353 Shares of Arm Holdings plc (NASDAQ:ARM)

Envestnet Asset Management Inc. raised its position in shares of Arm Holdings plc (NASDAQ:ARM) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,124 shares of the company’s stock after acquiring an additional 353 shares during the period. Envestnet Asset Management Inc.’s holdings in ARM were worth $5,320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in ARM by 5.4% in the 4th quarter. Bank of New York Mellon Corp now owns 105,300 shares of the company’s stock valued at $12,990,000 after purchasing an additional 5,440 shares during the period. Modus Advisors LLC increased its holdings in shares of ARM by 300.2% during the fourth quarter. Modus Advisors LLC now owns 17,935 shares of the company’s stock worth $2,212,000 after purchasing an additional 13,453 shares during the period. Franklin Resources Inc. raised its position in shares of ARM by 21.7% in the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after buying an additional 228,467 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of ARM by 333.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,884 shares of the company’s stock valued at $849,000 after buying an additional 5,297 shares during the period. Finally, Capital Market Strategies LLC acquired a new stake in ARM during the fourth quarter worth approximately $694,000. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Trading Up 3.8 %

NASDAQ:ARM opened at $100.55 on Wednesday. The stock’s 50-day moving average is $117.31 and its 200-day moving average is $135.19. The stock has a market cap of $105.36 billion, a P/E ratio of 132.30, a price-to-earnings-growth ratio of 6.33 and a beta of 4.48. Arm Holdings plc has a 1-year low of $80.00 and a 1-year high of $188.75.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ARM shares. Barclays cut their target price on ARM from $155.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday. Bank of America cut their price objective on shares of ARM from $180.00 to $144.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Benchmark reissued a “hold” rating on shares of ARM in a report on Thursday, February 6th. Loop Capital upped their price target on shares of ARM from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.70.

ARM Company Profile

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.