Brandes Investment Partners LP Purchases 53,242 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Brandes Investment Partners LP lifted its position in Arlo Technologies, Inc. (NYSE:ARLO) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,140,826 shares of the company’s stock after acquiring an additional 53,242 shares during the period. Brandes Investment Partners LP owned 5.27% of Arlo Technologies worth $66,991,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SkyView Investment Advisors LLC grew its holdings in Arlo Technologies by 11.1% in the second quarter. SkyView Investment Advisors LLC now owns 42,249 shares of the company’s stock worth $551,000 after purchasing an additional 4,235 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Arlo Technologies by 8.8% in the second quarter. The Manufacturers Life Insurance Company now owns 35,944 shares of the company’s stock worth $469,000 after buying an additional 2,912 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in shares of Arlo Technologies in the second quarter worth approximately $184,000. Engle Capital Management L.P. grew its holdings in shares of Arlo Technologies by 25.6% during the second quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock valued at $14,735,000 after buying an additional 230,000 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Arlo Technologies by 9.3% in the second quarter. Squarepoint Ops LLC now owns 83,975 shares of the company’s stock valued at $1,095,000 after acquiring an additional 7,143 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Roth Mkm lifted their target price on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research note on Friday.

Insiders Place Their Bets

In other news, Director Ralph E. Faison acquired 8,842 shares of the company’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 purchase, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction on Tuesday, July 9th. The stock was 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 in the company, valued at $1,112,724.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ralph E. Faison purchased 8,842 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the completion of the acquisition, the director now owns 385,599 shares of the company’s stock, valued at approximately $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 Stock Down 1.2 %

ARLO opened at $11.83 on Monday. The company has a market capitalization of $1.15 billion, a PE ratio of -65.72 and a beta of 1.76. The firm has a 50-day simple moving average of $12.61 and a two-hundred day simple moving average of $12.81. 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 announced its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $125.03 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. Analysts forecast that Arlo Technologies, Inc. will post -0.4 earnings per share for the current fiscal year.

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.