Rhumbline Advisers Boosts Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Rhumbline Advisers raised its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 265,669 shares of the company’s stock after purchasing an additional 8,389 shares during the period. Rhumbline Advisers owned 0.27% of Arlo Technologies worth $3,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Chilton Capital Management LLC bought a new position in shares of Arlo Technologies in the second quarter valued at approximately $33,000. Natixis Advisors LLC purchased a new stake in Arlo Technologies in the 2nd quarter worth approximately $236,000. Legato Capital Management LLC boosted its holdings in Arlo Technologies by 162.3% in the 2nd quarter. Legato Capital Management LLC now owns 121,124 shares of the company’s stock valued at $1,579,000 after purchasing an additional 74,943 shares during the period. Raymond James Trust N.A. purchased a new position in shares of Arlo Technologies during the 2nd quarter valued at $174,000. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Arlo Technologies by 4.7% in the second quarter. Louisiana State Employees Retirement System now owns 49,100 shares of the company’s stock worth $640,000 after purchasing an additional 2,200 shares during the period. 83.18% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arlo Technologies

In related news, Director Ralph E. Faison bought 8,842 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were 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 in the company, valued at $1,112,724.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ralph E. Faison purchased 8,842 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $11.89 per share, with a total value of $105,131.38. Following the acquisition, the director now owns 385,599 shares in the company, valued at approximately $4,584,772.11. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ARLO has been the subject of several recent analyst reports. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, August 9th. Roth Mkm boosted their price objective 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 Trading Down 0.9 %

NYSE ARLO opened at $11.46 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48. Arlo Technologies, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $17.64. The stock has a market cap of $1.12 billion, a P/E ratio of -63.67 and a beta of 1.76. The stock has a 50 day simple moving average of $13.39 and a two-hundred day simple moving average of $12.78.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $125.03 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts forecast that Arlo Technologies, Inc. will post -0.4 earnings per share for the current year.

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.