Sanctuary Advisors LLC Purchases New Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Sanctuary Advisors LLC purchased a new stake in Arlo Technologies, Inc. (NYSE:ARLO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 47,041 shares of the company’s stock, valued at approximately $613,000.

Other hedge funds have also added to or reduced their stakes in the company. Chilton Capital Management LLC bought a new position in Arlo Technologies in the second quarter valued at about $33,000. GAMMA Investing LLC boosted its holdings in Arlo Technologies by 34.9% in the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after acquiring an additional 840 shares during the last quarter. CWM LLC lifted its stake in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after buying an additional 1,778 shares during the period. Meeder Asset Management Inc. acquired a new position in Arlo Technologies in the second quarter valued at about $62,000. Finally, Hennessy Advisors Inc. acquired a new position in Arlo Technologies in the second quarter valued at about $138,000. Institutional investors own 83.18% of the company’s stock.

Insider Transactions at Arlo Technologies

In other Arlo Technologies news, Director Ralph E. Faison purchased 8,842 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $11.89 per share, with a total value of $105,131.38. Following the completion of the transaction, the director now directly owns 385,599 shares in the company, valued at $4,584,772.11. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ralph E. Faison bought 8,842 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $11.89 per share, with a total value of $105,131.38. Following the transaction, the director now owns 385,599 shares in the company, valued at $4,584,772.11. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $11.94, for a total value of $84,750.12. Following the completion of the sale, the chief financial officer now directly owns 892,595 shares in the company, valued at approximately $10,657,584.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Roth Mkm increased their target price on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. BWS Financial reissued a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Friday, September 27th.

Arlo Technologies Trading Up 3.3 %

NYSE ARLO opened at $11.44 on Tuesday. The firm has a market cap of $1.12 billion, a P/E ratio of -62.17 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 stock’s 50-day moving average is $11.79 and its 200-day moving average is $12.73. Arlo Technologies, Inc. has a one year low of $7.77 and a one year high of $17.64.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, topping 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%. Arlo Technologies’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) earnings per share. Sell-side analysts anticipate that Arlo Technologies, Inc. will post -0.4 earnings per share for the current fiscal year.

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.