Arlo Technologies, Inc. (NYSE:ARLO) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,147 shares of the company’s stock after selling 7,510 shares during the quarter. Los Angeles Capital Management LLC owned 0.08% of Arlo Technologies worth $980,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Jupiter Asset Management Ltd. acquired a new stake in shares of Arlo Technologies during the first quarter worth about $885,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Arlo Technologies by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 948,042 shares of the company’s stock worth $9,025,000 after purchasing an additional 58,620 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Arlo Technologies by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock worth $831,000 after purchasing an additional 6,757 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in shares of Arlo Technologies during the first quarter worth about $797,000. Finally, Inspire Investing LLC acquired a new stake in shares of Arlo Technologies during the first quarter worth about $873,000. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Trading Up 3.2 %

Shares of NYSE:ARLO opened at $11.60 on Friday. Arlo Technologies, Inc. has a 12-month low of $7.77 and a 12-month high of $17.64. The company has a market capitalization of $1.16 billion, a PE ratio of -64.44 and a beta of 1.76. The business has a 50 day moving average of $13.60 and a two-hundred day moving average of $12.73. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The company had revenue of $127.45 million during the quarter, compared to the consensus estimate of $125.03 million. During the same period in the previous year, the company posted ($0.08) earnings per share. Arlo Technologies’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, analysts forecast that Arlo Technologies, Inc. will post -0.4 EPS for the current year.

Insider Activity

In other news, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the sale, the director now directly owns 75,032 shares in the company, valued at $1,112,724.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ralph E. Faison purchased 8,842 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $11.89 per share, for a total transaction of $105,131.38. Following the completion of the transaction, the director now owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total value of $222,450.00. Following the sale, the director now owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ARLO. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a report on Friday, August 9th. Roth Mkm lifted their target price on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

Arlo Technologies Company 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.