Pursue Wealth Partners LLC Acquires 20,823 Shares of Arm Holdings plc (NASDAQ:ARM)

Pursue Wealth Partners LLC boosted its position in shares of Arm Holdings plc (NASDAQ:ARM) by 440.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,555 shares of the company’s stock after buying an additional 20,823 shares during the quarter. ARM makes up approximately 2.0% of Pursue Wealth Partners LLC’s holdings, making the stock its 15th largest holding. Pursue Wealth Partners LLC’s holdings in ARM were worth $3,655,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in ARM by 14,351.1% during the third quarter. International Assets Investment Management LLC now owns 812,297 shares of the company’s stock worth $1,161,670,000 after buying an additional 806,676 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of ARM by 551.6% during the second quarter. Sei Investments Co. now owns 579,330 shares of the company’s stock worth $94,790,000 after buying an additional 490,415 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ARM by 186.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 359,105 shares of the company’s stock valued at $52,279,000 after acquiring an additional 233,909 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in ARM by 5.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 290,947 shares of the company’s stock worth $36,366,000 after acquiring an additional 14,584 shares during the period. Finally, Mark Asset Management LP boosted its position in shares of ARM by 14.2% during the 2nd quarter. Mark Asset Management LP now owns 238,589 shares of the company’s stock worth $39,038,000 after acquiring an additional 29,686 shares in the last quarter. 7.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on ARM. Loop Capital lifted their price target on shares of ARM from $120.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Barclays boosted their price objective on ARM from $105.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. HSBC cut ARM from a “hold” rating to a “reduce” rating in a research report on Monday, July 29th. Citigroup increased their target price on shares of ARM from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Benchmark began coverage on shares of ARM in a report on Monday, September 16th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ARM has an average rating of “Moderate Buy” and a consensus target price of $138.57.

ARM Stock Up 1.1 %

Shares of ARM stock opened at $142.90 on Friday. Arm Holdings plc has a 52 week low of $49.82 and a 52 week high of $188.75. The stock’s 50-day simple moving average is $140.79 and its 200-day simple moving average is $136.45. The company has a market capitalization of $149.73 billion and a price-to-earnings ratio of 362.32.

ARM (NASDAQ:ARM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $939.00 million for the quarter, compared to analysts’ expectations of $905.53 million. ARM had a return on equity of 18.97% and a net margin of 12.12%. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 earnings per share. On average, equities analysts expect that Arm Holdings plc will post 0.86 earnings per share for the current year.

ARM Profile

Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. It offers microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services.