Gerber Kawasaki Wealth & Investment Management Cuts Stock Position in LPL Financial Holdings Inc. (NASDAQ:LPLA)

Gerber Kawasaki Wealth & Investment Management cut its stake in LPL Financial Holdings Inc. (NASDAQ:LPLA - Free Report) by 68.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,884 shares of the financial services provider's stock after selling 14,690 shares during the period. Gerber Kawasaki Wealth & Investment Management's holdings in LPL Financial were worth $2,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in LPLA. Susquehanna Fundamental Investments LLC purchased a new position in shares of LPL Financial during the 4th quarter worth $24,389,000. DE Burlo Group Inc. acquired a new stake in shares of LPL Financial during the fourth quarter valued at about $327,000. Two Sigma Securities LLC raised its stake in shares of LPL Financial by 37.5% in the 4th quarter. Two Sigma Securities LLC now owns 993 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 271 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of LPL Financial in the 4th quarter worth approximately $9,795,000. Finally, Pinebridge Investments L.P. purchased a new position in shares of LPL Financial during the 4th quarter worth approximately $7,004,000. Institutional investors and hedge funds own 95.66% of the company's stock.

LPL Financial Stock Up 1.3 %

Shares of NASDAQ LPLA traded up $4.24 during midday trading on Thursday, hitting $324.03. 675,872 shares of the company's stock were exchanged, compared to its average volume of 826,661. The firm's fifty day simple moving average is $323.96 and its 200-day simple moving average is $324.98. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.16 and a quick ratio of 2.16. The company has a market cap of $25.71 billion, a PE ratio of 23.08, a P/E/G ratio of 0.94 and a beta of 0.64. LPL Financial Holdings Inc. has a twelve month low of $187.19 and a twelve month high of $384.04.

LPL Financial (NASDAQ:LPLA - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.24. LPL Financial had a net margin of 8.55% and a return on equity of 49.41%. Research analysts predict that LPL Financial Holdings Inc. will post 19.35 EPS for the current fiscal year.

Insider Buying and Selling at LPL Financial

In other news, CFO Matthew J. Audette sold 28,777 shares of LPL Financial stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $365.14, for a total value of $10,507,633.78. Following the transaction, the chief financial officer now directly owns 13,663 shares of the company's stock, valued at $4,988,907.82. The trade was a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marc Eliot Cohen sold 1,100 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $365.85, for a total transaction of $402,435.00. Following the transaction, the director now directly owns 4,075 shares in the company, valued at $1,490,838.75. The trade was a 21.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,465 shares of company stock worth $12,562,070 over the last 90 days. Corporate insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

LPLA has been the topic of a number of research reports. StockNews.com cut LPL Financial from a "hold" rating to a "sell" rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. lifted their target price on LPL Financial from $397.00 to $405.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Barclays reduced their price target on shares of LPL Financial from $414.00 to $365.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Morgan Stanley lifted their price objective on shares of LPL Financial from $379.00 to $413.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Finally, UBS Group increased their target price on shares of LPL Financial from $390.00 to $420.00 and gave the stock a "buy" rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $369.83.

LPL Financial Company Profile

LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at enterprises in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, fixed income, alternative investments, retirement and 529 education savings plans, and insurance.