Arlo Technologies, Inc. (NYSE:ARLO) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its position in Arlo Technologies, Inc. (NYSE:ARLO) by 12.2% during the second quarter, HoldingsChannel.com reports. The fund owned 1,414,400 shares of the company’s stock after acquiring an additional 154,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Arlo Technologies were worth $18,444,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ARLO. Chilton Capital Management LLC acquired a new stake in Arlo Technologies in the second quarter valued at $33,000. GAMMA Investing LLC boosted its position 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 worth $42,000 after buying an additional 840 shares in the last quarter. CWM LLC grew its stake in Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after acquiring an additional 1,778 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Arlo Technologies during the 2nd quarter valued at about $62,000. Finally, Hennessy Advisors Inc. acquired a new position in Arlo Technologies during the second quarter worth about $138,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ARLO has been the topic of several research reports. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Friday, August 9th. Roth Mkm raised 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 Price Performance

Arlo Technologies stock opened at $11.72 on Friday. The stock has a market capitalization of $1.14 billion, a P/E ratio of -65.11 and a beta of 1.76. Arlo Technologies, Inc. has a 12-month low of $7.77 and a 12-month high of $17.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.23. The firm’s 50-day moving average is $13.10 and its two-hundred day moving average is $12.77.

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

Insider Activity

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

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.