Envestnet Portfolio Solutions Inc. Increases Stock Position in Arm Holdings plc (NASDAQ:ARM)

Envestnet Portfolio Solutions Inc. increased its position in Arm Holdings plc (NASDAQ:ARM) by 6.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,127 shares of the company’s stock after buying an additional 133 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in ARM were worth $262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARM. Franklin Resources Inc. increased its stake in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock worth $183,265,000 after acquiring an additional 228,467 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in ARM by 4,506.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock worth $107,774,000 after purchasing an additional 791,392 shares in the last quarter. Raymond James Financial Inc. purchased a new position in ARM in the fourth quarter valued at approximately $32,655,000. Rheos Capital Works Inc. raised its holdings in ARM by 29.6% in the fourth quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock valued at $30,211,000 after buying an additional 56,000 shares during the period. Finally, State Street Corp lifted its position in ARM by 19.2% during the third quarter. State Street Corp now owns 221,854 shares of the company’s stock valued at $31,727,000 after buying an additional 35,720 shares in the last quarter. Institutional investors and hedge funds own 7.53% of the company’s stock.

ARM Stock Down 4.2 %

ARM opened at $107.80 on Friday. The company’s 50-day moving average price is $140.01 and its 200 day moving average price is $140.57. Arm Holdings plc has a fifty-two week low of $85.61 and a fifty-two week high of $188.75. The firm has a market cap of $112.96 billion, a price-to-earnings ratio of 141.84, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77.

Wall Street Analyst Weigh In

ARM has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of ARM from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday. Benchmark reissued a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of ARM in a report on Thursday, February 6th. Jefferies Financial Group lifted their price target on shares of ARM from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Susquehanna upped their price objective on shares of ARM from $118.00 to $140.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.41.

ARM 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.