Virtu Financial LLC Purchases 59,846 Shares of Arm Holdings plc (NASDAQ:ARM)

Virtu Financial LLC raised its position in shares of Arm Holdings plc (NASDAQ:ARM) by 735.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 67,980 shares of the company’s stock after buying an additional 59,846 shares during the quarter. ARM accounts for about 0.4% of Virtu Financial LLC’s holdings, making the stock its 24th biggest position. Virtu Financial LLC’s holdings in ARM were worth $8,386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. boosted its position in ARM by 21.7% during the third quarter. Franklin Resources Inc. now owns 1,281,484 shares of the company’s stock valued at $183,265,000 after acquiring an additional 228,467 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in ARM by 4,506.5% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 808,953 shares of the company’s stock valued at $107,774,000 after acquiring an additional 791,392 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of ARM during the 4th quarter worth about $32,655,000. Rheos Capital Works Inc. boosted its position in shares of ARM by 29.6% during the 4th quarter. Rheos Capital Works Inc. now owns 244,900 shares of the company’s stock worth $30,211,000 after purchasing an additional 56,000 shares in the last quarter. Finally, State Street Corp boosted its position in shares of ARM by 19.2% during the 3rd quarter. State Street Corp now owns 221,854 shares of the company’s stock worth $31,727,000 after purchasing an additional 35,720 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.

ARM Stock Performance

NASDAQ:ARM opened at $119.07 on Friday. The firm has a 50-day moving average price of $142.75 and a two-hundred day moving average price of $140.75. Arm Holdings plc has a 52 week low of $85.61 and a 52 week high of $188.75. The firm has a market cap of $124.77 billion, a price-to-earnings ratio of 156.67, a price-to-earnings-growth ratio of 6.33 and a beta of 4.77.

Analyst Upgrades and Downgrades

ARM has been the topic of a number of research analyst reports. Rosenblatt Securities increased their price objective on shares of ARM from $180.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Susquehanna increased their price objective on shares of ARM from $118.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group increased their price objective on shares of ARM from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Benchmark reissued a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ARM in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, ARM presently has a consensus rating of “Moderate Buy” and an average price target of $165.23.

ARM Profile

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.