Allspring Global Investments Holdings LLC Trims Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Allspring Global Investments Holdings LLC cut its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 18.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,534 shares of the company’s stock after selling 9,471 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Arlo Technologies were worth $515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ARLO. Chilton Capital Management LLC bought a new position in Arlo Technologies during the 2nd quarter valued at about $33,000. GAMMA Investing LLC lifted its stake in shares of Arlo Technologies by 34.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after purchasing an additional 840 shares during the period. CWM LLC lifted its stake in shares of Arlo Technologies by 90.5% in the 2nd 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 period. Meeder Asset Management Inc. bought a new position in shares of Arlo Technologies in the 2nd quarter worth approximately $62,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Arlo Technologies in the 2nd quarter worth approximately $138,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ralph E. Faison purchased 8,842 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was 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 owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ARLO. Roth Mkm increased 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 reissued a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Friday, September 27th.

Arlo Technologies Trading Up 1.3 %

Shares of ARLO opened at $10.29 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.23. Arlo Technologies, Inc. has a 1 year low of $7.77 and a 1 year high of $17.64. The company has a 50 day simple moving average of $11.47 and a two-hundred day simple moving average of $12.65. The firm has a market cap of $1.03 billion, a P/E ratio of -46.77 and a beta of 1.76.

Arlo Technologies (NYSE:ARLO) last posted its 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. The firm had revenue of $127.45 million during the quarter, compared to the consensus estimate of $125.03 million. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. On average, equities analysts expect 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.