Avantax Advisory Services Inc. Reduces Position in Arm Holdings plc (NASDAQ:ARM)

Avantax Advisory Services Inc. lessened its holdings in shares of Arm Holdings plc (NASDAQ:ARM) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,268 shares of the company’s stock after selling 792 shares during the period. Avantax Advisory Services Inc.’s holdings in ARM were worth $773,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Tufton Capital Management grew its stake in ARM by 1.5% during the 4th quarter. Tufton Capital Management now owns 4,425 shares of the company’s stock valued at $546,000 after acquiring an additional 65 shares in the last quarter. Valley National Advisers Inc. grew its stake in ARM by 13.3% during the 4th quarter. Valley National Advisers Inc. now owns 613 shares of the company’s stock valued at $75,000 after acquiring an additional 72 shares in the last quarter. Zullo Investment Group Inc. grew its stake in ARM by 4.6% during the 4th quarter. Zullo Investment Group Inc. now owns 1,915 shares of the company’s stock valued at $236,000 after acquiring an additional 85 shares in the last quarter. Gladstone Institutional Advisory LLC grew its stake in ARM by 3.0% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 3,319 shares of the company’s stock valued at $409,000 after acquiring an additional 98 shares in the last quarter. Finally, Hobbs Group Advisors LLC grew its stake in ARM by 7.4% during the 3rd quarter. Hobbs Group Advisors LLC now owns 1,454 shares of the company’s stock valued at $208,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 7.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ARM shares. Benchmark reissued a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Evercore ISI increased their price target on shares of ARM from $176.00 to $202.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Raymond James increased their price target on shares of ARM from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of ARM in a research note on Thursday, February 6th. Finally, UBS Group started coverage on shares of ARM in a research note on Monday, November 25th. They issued a “buy” rating and a $160.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.23.

ARM Price Performance

Shares of ARM opened at $119.07 on Friday. Arm Holdings plc has a 1-year low of $85.61 and a 1-year high of $188.75. The stock has a market cap of $124.77 billion, a PE ratio of 156.67, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77. The firm has a fifty day moving average price of $143.18 and a 200 day moving average price of $140.84.

About ARM

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries.