Meeder Asset Management Inc. Makes New Investment in Arlo Technologies, Inc. (NYSE:ARLO)

Meeder Asset Management Inc. bought a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,784 shares of the company’s stock, valued at approximately $62,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ARLO. Chilton Capital Management LLC bought a new stake in Arlo Technologies during the 2nd quarter valued at approximately $33,000. GAMMA Investing LLC lifted its stake in shares of Arlo Technologies by 34.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after purchasing an additional 840 shares during the period. CWM LLC grew its stake in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after purchasing an additional 1,778 shares during the period. Hennessy Advisors Inc. bought a new position in Arlo Technologies in the second quarter worth $138,000. Finally, Raymond James Trust N.A. purchased a new position in Arlo Technologies during the second quarter valued at $174,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Insider Buying and Selling

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

Arlo Technologies Trading Up 3.2 %

NYSE:ARLO opened at $11.97 on Friday. The company has a 50 day simple moving average of $13.53 and a two-hundred day simple moving average of $12.76. The company has a market cap of $1.17 billion, a PE ratio of -66.50 and a beta of 1.76. 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, Inc. has a 12 month low of $7.77 and a 12 month high of $17.64.

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

Analyst Ratings Changes

Several brokerages recently issued reports on ARLO. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Friday, August 9th. Roth Mkm boosted their price objective on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

About Arlo Technologies

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.