Mutual of America Capital Management LLC Increases Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Mutual of America Capital Management LLC increased its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 3,624.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 607,080 shares of the company’s stock after purchasing an additional 590,778 shares during the period. Mutual of America Capital Management LLC’s holdings in Arlo Technologies were worth $7,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. acquired a new stake in Arlo Technologies during the 1st quarter worth about $885,000. Charles Schwab Investment Management Inc. lifted its position in Arlo Technologies by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 948,042 shares of the company’s stock worth $9,025,000 after acquiring an additional 58,620 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Arlo Technologies by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock worth $831,000 after acquiring an additional 6,757 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in Arlo Technologies during the 1st quarter worth about $797,000. Finally, Inspire Investing LLC acquired a new stake in Arlo Technologies during the 1st quarter worth about $873,000. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Stock Performance

Shares of ARLO stock opened at $11.66 on Friday. The stock has a market cap of $1.14 billion, a PE ratio of -64.78 and a beta of 1.76. The business has a 50-day simple moving average of $13.18 and a 200-day simple moving average of $12.77. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.16. Arlo Technologies, Inc. has a 52-week low of $7.77 and a 52-week high of $17.64.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business 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%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.08) EPS. On average, equities analysts expect that Arlo Technologies, Inc. will post -0.4 EPS for the current year.

Insider Activity

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

Wall Street Analyst Weigh In

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