Hennion & Walsh Asset Management Inc. Purchases 23,440 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Hennion & Walsh Asset Management Inc. boosted its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 38.5% in the first quarter, Holdings Channel reports. The fund owned 84,368 shares of the company’s stock after acquiring an additional 23,440 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Arlo Technologies were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ARLO. Acadian Asset Management LLC bought a new position in shares of Arlo Technologies in the third quarter worth about $38,000. Harbor Capital Advisors Inc. grew its holdings in Arlo Technologies by 14.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 18,769 shares of the company’s stock valued at $179,000 after buying an additional 2,311 shares during the last quarter. Strs Ohio increased its position in Arlo Technologies by 7.3% in the 4th quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after buying an additional 1,300 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Arlo Technologies by 23.5% during the fourth quarter. Victory Capital Management Inc. now owns 19,296 shares of the company’s stock worth $184,000 after buying an additional 3,671 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Arlo Technologies in the first quarter valued at approximately $243,000. 83.18% of the stock is currently owned by institutional investors.

Arlo Technologies Price Performance

Shares of ARLO stock opened at $13.04 on Monday. Arlo Technologies, Inc. has a one year low of $7.77 and a one year high of $14.52. The stock has a fifty day moving average price of $12.77 and a 200 day moving average price of $11.09. The stock has a market cap of $1.27 billion, a P/E ratio of -72.44 and a beta of 1.86.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The business had revenue of $124.20 million for the quarter, compared to the consensus estimate of $124.06 million. Arlo Technologies had a negative return on equity of 16.71% and a negative net margin of 3.46%. Equities research analysts anticipate that Arlo Technologies, Inc. will post -0.33 EPS for the current year.

Insiders Place Their Bets

In other news, Director Amy M. Rothstein sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $13.37, for a total value of $334,250.00. Following the completion of the transaction, the director now directly owns 76,271 shares of the company’s stock, valued at approximately $1,019,743.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ARLO. Roth Mkm boosted their target price on shares of Arlo Technologies from $13.75 to $16.50 and gave the stock a “buy” rating in a research report on Friday, May 10th. BWS Financial restated a “buy” rating and set a $17.00 price objective on shares of Arlo Technologies in a report on Friday, May 10th. Finally, Craig Hallum increased their target price on shares of Arlo Technologies from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, May 10th.

Arlo Technologies Profile

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.