Assetmark Inc. Increases Stake in ARM Holdings PLC Sponsored ADR $ARM

Key Points

• Assetmark Inc. increased its ARM stake by 24.7% in the first quarter, adding 16,149 shares to bring its total to 81,627 shares valued at about $12.35 million.
• ARM shares were trading at $267.19, giving the company a market cap of about $285.38 billion. The stock has been highly volatile, with a 52-week range of $100.02 to $452.70.
• Analyst sentiment remains positive overall: ARM has a consensus rating of “Moderate Buy” with an average price target of $298.96, though insider selling has been notable, including $56.2 million in stock sold over the last 90 days.

Assetmark Inc. lifted its holdings in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM - Free Report) by 24.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,627 shares of the company's stock after buying an additional 16,149 shares during the period. Assetmark Inc.'s holdings in ARM were worth $12,349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ARM. CreativeOne Wealth LLC grew its stake in shares of ARM by 5.0% during the 4th quarter. CreativeOne Wealth LLC now owns 1,830 shares of the company's stock worth $200,000 after purchasing an additional 87 shares during the period. AdvisorNet Financial Inc lifted its stake in shares of ARM by 6.2% in the first quarter. AdvisorNet Financial Inc now owns 1,681 shares of the company's stock valued at $254,000 after purchasing an additional 98 shares during the period. Moors & Cabot Inc. boosted its holdings in ARM by 5.3% during the third quarter. Moors & Cabot Inc. now owns 2,050 shares of the company's stock worth $290,000 after buying an additional 103 shares in the last quarter. Heritage Trust Co boosted its holdings in ARM by 5.5% during the fourth quarter. Heritage Trust Co now owns 2,045 shares of the company's stock worth $224,000 after buying an additional 107 shares in the last quarter. Finally, TrueMark Investments LLC grew its position in ARM by 1.4% during the first quarter. TrueMark Investments LLC now owns 7,592 shares of the company's stock worth $1,149,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 7.53% of the company's stock.

ARM Price Performance

Shares of ARM opened at $267.19 on Monday. ARM Holdings PLC Sponsored ADR has a 1-year low of $100.02 and a 1-year high of $452.70. The stock has a market cap of $285.38 billion, a price-to-earnings ratio of 318.08, a price-to-earnings-growth ratio of 9.70 and a beta of 3.76. The firm has a 50 day simple moving average of $324.14 and a 200-day simple moving average of $203.22.

ARM (NASDAQ:ARM - Get Free Report) last posted its earnings results on Wednesday, April 1st. The company reported $0.60 earnings per share (EPS) for the quarter. The firm had revenue of $1.49 billion for the quarter. ARM had a return on equity of 12.43% and a net margin of 18.37%. On average, equities analysts expect that ARM Holdings PLC Sponsored ADR will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

ARM has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of ARM from $255.00 to $410.00 and gave the company an "overweight" rating in a report on Monday, June 1st. The Goldman Sachs Group boosted their price target on ARM from $125.00 to $150.00 and gave the stock a "sell" rating in a research note on Thursday, May 7th. Weiss Ratings restated a "hold (c)" rating on shares of ARM in a report on Monday, April 20th. Sanford C. Bernstein set a $500.00 price objective on ARM in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada lifted their price objective on ARM from $175.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $298.96.

Insider Buying and Selling

In related news, CFO Jason Child sold 31,920 shares of ARM stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $226.54, for a total transaction of $7,231,156.80. Following the completion of the sale, the chief financial officer owned 174,232 shares in the company, valued at approximately $39,470,517.28. This trade represents a 15.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Abbey sold 6,566 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $402.72, for a total transaction of $2,644,259.52. Following the completion of the transaction, the insider owned 20,563 shares in the company, valued at approximately $8,281,131.36. This trade represents a 24.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 238,906 shares of company stock worth $56,245,828 in the last ninety days.

ARM Company Profile

Arm Limited NASDAQ: ARM is a global semiconductor IP company best known for designing energy-efficient processor architectures and related technologies that underpin a wide range of computing devices. Founded in 1990 as a joint venture between Acorn Computers, Apple and VLSI Technology and headquartered in Cambridge, England, Arm develops the ARM instruction set architectures and core processor designs that chipmakers license and integrate into custom system-on-chip (SoC) products. The company operates a licensing and royalty business model rather than manufacturing chips itself.

Arm's product portfolio includes CPU core families (such as Cortex and Neoverse lines), GPU and multimedia IP (Mali), neural processing units (Ethos) and a suite of system and physical IP blocks.

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