Fortem Financial Group LLC decreased its position in shares of ARM Holdings PLC Sponsored ADR (NASDAQ:ARM – Free Report) by 13.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,843 shares of the company’s stock after selling 1,210 shares during the period. Fortem Financial Group LLC’s holdings in ARM were worth $1,186,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Rathbones Group PLC lifted its position in ARM by 4,638.8% in the 4th quarter. Rathbones Group PLC now owns 500,043 shares of the company’s stock worth $54,660,000 after buying an additional 489,491 shares during the last quarter. Paragon Capital Management Inc. purchased a new stake in ARM in the fourth quarter worth approximately $826,000. Lansdowne Partners UK LLP bought a new position in ARM during the third quarter valued at approximately $8,486,000. Hyperion Asset Management Ltd bought a new position in ARM during the third quarter valued at approximately $202,980,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ARM by 34.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,188 shares of the company’s stock worth $2,644,000 after acquiring an additional 6,232 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.
ARM Price Performance
Shares of ARM stock opened at $439.46 on Friday. ARM Holdings PLC Sponsored ADR has a one year low of $100.02 and a one year high of $452.70. The business’s 50 day simple moving average is $271.16 and its two-hundred day simple moving average is $175.21. The stock has a market capitalization of $469.38 billion, a P/E ratio of 523.17, a price-to-earnings-growth ratio of 15.96 and a beta of 3.78.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on ARM shares. HSBC upgraded shares of ARM from a “reduce” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $205.00 in a report on Friday, March 20th. TD Cowen increased their target price on shares of ARM from $165.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, May 7th. The Goldman Sachs Group lifted their target price on shares of ARM from $125.00 to $150.00 and gave the stock a “sell” rating in a research report on Thursday, May 7th. Sanford C. Bernstein set a $500.00 price target on shares of ARM in a research note on Wednesday. Finally, Raymond James Financial restated an “outperform” rating on shares of ARM in a research report on Thursday, May 7th. Nineteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.38.
Check Out Our Latest Analysis on ARM
Insider Activity
In other ARM news, CAO Laura Kathleen Bartels sold 11,306 shares of the firm’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 sale, the chief accounting officer owned 12,135 shares of the company’s stock, valued at $4,765,414.50. This trade represents a 48.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlotte Claire Eaton sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $282.77, for a total transaction of $1,131,080.00. Following the completion of the transaction, the insider owned 7,805 shares in the company, valued at $2,207,019.85. The trade was a 33.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 301,338 shares of company stock valued at $66,030,158.
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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