Swedbank AB Acquires 300,000 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Swedbank AB lifted its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 37.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,100,000 shares of the company’s stock after buying an additional 300,000 shares during the period. Swedbank AB owned approximately 1.13% of Arlo Technologies worth $13,321,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Chilton Capital Management LLC purchased a new stake in shares of Arlo Technologies during the 2nd quarter valued at about $33,000. GAMMA Investing LLC lifted its position in Arlo Technologies by 34.9% during the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after purchasing an additional 840 shares during the period. CWM LLC boosted its holdings in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after purchasing an additional 1,778 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Arlo Technologies in the 2nd quarter worth approximately $62,000. Finally, Hennessy Advisors Inc. purchased a new stake in Arlo Technologies during the 2nd quarter valued at $138,000. 83.18% of the stock is currently owned by institutional investors.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the firm’s stock in a transaction that occurred 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 owns 892,595 shares in the company, valued at approximately $10,657,584.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arlo Technologies news, Director Ralph E. Faison acquired 8,842 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price 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 in the company, valued at approximately $4,584,772.11. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 corporate insiders.

Arlo Technologies Stock Down 0.2 %

ARLO opened at $11.84 on Friday. The firm’s 50 day simple moving average is $11.68 and its two-hundred day simple moving average is $12.70. The company has a market capitalization of $1.16 billion, a PE ratio of -65.78 and a beta of 1.76. Arlo Technologies, Inc. has a 1-year low of $7.77 and a 1-year high of $17.64. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16.

Arlo Technologies (NYSE:ARLO) last announced its 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. 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 for the quarter, compared to analysts’ expectations of $125.03 million. During the same period last year, the firm earned ($0.08) EPS. Arlo Technologies’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities analysts forecast that Arlo Technologies, Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ARLO. Roth Mkm lifted their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a report 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 report on Friday, September 27th.

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.