The Manufacturers Life Insurance Company Has $469,000 Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

The Manufacturers Life Insurance Company raised its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,944 shares of the company’s stock after purchasing an additional 2,912 shares during the period. The Manufacturers Life Insurance Company’s holdings in Arlo Technologies were worth $469,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C acquired a new position in Arlo Technologies during the second quarter valued at approximately $184,000. Engle Capital Management L.P. raised its position in 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 purchasing an additional 230,000 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Arlo Technologies by 9.3% during the second quarter. Squarepoint Ops LLC now owns 83,975 shares of the company’s stock worth $1,095,000 after buying an additional 7,143 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Arlo Technologies by 9.4% during the second quarter. Public Sector Pension Investment Board now owns 214,742 shares of the company’s stock worth $2,800,000 after buying an additional 18,377 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Arlo Technologies by 289.7% during the second quarter. Westwood Holdings Group Inc. now owns 941,237 shares of the company’s stock worth $12,274,000 after buying an additional 699,724 shares in the last quarter. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Arlo Technologies Stock Performance

Shares of Arlo Technologies stock opened at $11.86 on Thursday. 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 twelve month low of $7.77 and a twelve month high of $17.64. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -65.89 and a beta of 1.76. The company’s fifty day moving average is $11.71 and its 200 day moving average is $12.71.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping 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 company had revenue of $127.45 million for the quarter, compared to analysts’ expectations of $125.03 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Arlo Technologies’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts forecast that Arlo Technologies, Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

ARLO has been the subject of several research analyst reports. BWS Financial reiterated a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a report on Friday, September 27th. Roth Mkm upped their price target on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

Insider Buying and Selling

In related news, CFO Kurtis Joseph Binder sold 7,098 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 892,595 shares of the company’s stock, valued at $10,657,584.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Ralph E. Faison purchased 8,842 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $11.94, for a total transaction of $84,750.12. Following the sale, the chief financial officer now directly owns 892,595 shares in the company, valued at $10,657,584.30. This trade 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.

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.