Arlo Technologies, Inc. (NYSE:ARLO) Shares Sold by Algert Global LLC

Algert Global LLC lessened its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 19.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 259,862 shares of the company’s stock after selling 62,950 shares during the period. Algert Global LLC’s holdings in Arlo Technologies were worth $3,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ARLO. Emerald Advisers LLC acquired a new position in Arlo Technologies in the 2nd quarter worth approximately $11,528,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Arlo Technologies during the 2nd quarter worth approximately $9,413,000. Westwood Holdings Group Inc. grew its stake in shares of Arlo Technologies by 289.7% during the 2nd quarter. Westwood Holdings Group Inc. now owns 941,237 shares of the company’s stock worth $12,274,000 after purchasing an additional 699,724 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Arlo Technologies during the 1st quarter worth approximately $8,282,000. Finally, Mutual of America Capital Management LLC grew its stake in shares of Arlo Technologies by 3,624.0% during the 2nd quarter. Mutual of America Capital Management LLC now owns 607,080 shares of the company’s stock worth $7,916,000 after purchasing an additional 590,778 shares during the period. Institutional investors and hedge funds own 83.18% of the company’s stock.

Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the transaction, the chief financial officer now owns 892,595 shares in the company, valued at approximately $10,657,584.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now owns 892,595 shares in the company, valued at approximately $10,657,584.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ralph E. Faison purchased 8,842 shares of Arlo Technologies stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $11.89 per share, for a total transaction of $105,131.38. Following 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. 3.80% of the stock is currently owned by insiders.

Arlo Technologies Trading Up 2.3 %

Shares of NYSE:ARLO opened at $12.10 on Tuesday. Arlo Technologies, Inc. has a 1 year low of $7.77 and a 1 year high of $17.64. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -67.17 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 business’s 50 day moving average price is $12.61 and its 200-day moving average price is $12.82.

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

Analyst Ratings Changes

ARLO has been the topic of a number of analyst reports. Roth Mkm raised their price objective on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday.

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.