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

Assetmark Inc. boosted its holdings in ARM Holdings PLC Sponsored ADR (NASDAQ:ARM) by 24.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,627 shares of the company’s stock after purchasing an additional 16,149 shares during the quarter. Assetmark Inc.’s holdings in ARM were worth $12,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. SteelPeak Wealth LLC purchased a new stake in ARM in the first quarter valued at approximately $320,000. Independent Financial Group LLC acquired a new stake in shares of ARM during the 1st quarter worth $1,377,000. Westover Capital Advisors LLC acquired a new stake in shares of ARM during the 1st quarter worth $272,000. Wealthfront Advisers LLC purchased a new position in shares of ARM in the 1st quarter worth $394,000. Finally, D.A. Davidson & CO. raised its position in shares of ARM by 527.9% in the 1st quarter. D.A. Davidson & CO. now owns 13,506 shares of the company’s stock worth $2,043,000 after buying an additional 11,355 shares during the period. 7.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Laura Kathleen Bartels sold 11,306 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $392.70, for a total value of $4,439,866.20. Following the completion of the transaction, the chief accounting officer directly owned 12,135 shares in the company, valued at approximately $4,765,414.50. This represents a 48.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Abbey sold 6,566 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $8,281,131.36. This trade represents a 24.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 238,906 shares of company stock worth $56,245,828 over the last three months.

ARM Stock Performance

ARM stock 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 firm has a market cap of $285.38 billion, a P/E ratio of 318.08, a price-to-earnings-growth ratio of 9.70 and a beta of 3.76. The stock has a 50-day simple moving average of $324.14 and a 200-day simple moving average of $203.22.

ARM (NASDAQ:ARM) last released its quarterly earnings results on Wednesday, April 1st. The company reported $0.60 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 research analysts predict that ARM Holdings PLC Sponsored ADR will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

ARM has been the subject of a number of research reports. Guggenheim boosted their price target on ARM from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Barclays raised their price objective on ARM from $250.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. New Street Research lowered ARM from a “buy” rating to a “neutral” rating in a research note on Thursday, June 18th. The Goldman Sachs Group boosted their target price on ARM from $125.00 to $150.00 and gave the stock a “sell” rating in a report on Thursday, May 7th. Finally, Mizuho increased their target price on shares of ARM from $425.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Seventeen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $298.96.

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.