Amalgamated Bank Has $380,000 Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Amalgamated Bank decreased its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,175 shares of the company’s stock after selling 1,010 shares during the period. Amalgamated Bank’s holdings in Arlo Technologies were worth $380,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Emerald Advisers LLC acquired a new position in shares of Arlo Technologies during the 2nd quarter worth about $11,528,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Arlo Technologies in the second quarter valued at approximately $9,413,000. Lord Abbett & CO. LLC acquired a new stake in shares of Arlo Technologies in the first quarter worth $8,282,000. Mutual of America Capital Management LLC grew its stake in shares of Arlo Technologies by 3,624.0% in the second quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock worth $7,916,000 after acquiring an additional 590,778 shares during the last quarter. Finally, Swedbank AB bought a new position in Arlo Technologies during the first quarter worth $6,958,000. 83.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ARLO. BWS Financial reissued a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday. Roth Mkm increased their target price on shares of Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.

Arlo Technologies Stock Down 1.2 %

ARLO opened at $11.83 on Monday. The company has a market capitalization of $1.15 billion, a P/E ratio of -65.72 and a beta of 1.76. 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 fifty day moving average price is $12.61 and its two-hundred day moving average price is $12.81. Arlo Technologies, Inc. has a fifty-two week low of $7.77 and a fifty-two week high of $17.64.

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

Insider Transactions at Arlo Technologies

In related news, Director Ralph E. Faison bought 8,842 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the transaction, the director now directly owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ralph E. Faison acquired 8,842 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 owns 75,032 shares in the company, valued at approximately $1,112,724.56. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

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.