Mirae Asset Global Investments Co. Ltd. Trims Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,482 shares of the company’s stock after selling 13,126 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Arlo Technologies were worth $2,575,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its holdings in Arlo Technologies by 328.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,534,778 shares of the company’s stock worth $15,808,000 after buying an additional 1,176,530 shares during the period. Brandes Investment Partners LP boosted its holdings in Arlo Technologies by 29.4% in the 3rd quarter. Brandes Investment Partners LP now owns 4,150,886 shares of the company’s stock worth $42,754,000 after buying an additional 943,089 shares during the period. Vanguard Group Inc. boosted its holdings in Arlo Technologies by 13.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,090,278 shares of the company’s stock worth $32,898,000 after buying an additional 864,735 shares during the period. Nuveen Asset Management LLC boosted its holdings in Arlo Technologies by 77.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,770,362 shares of the company’s stock worth $19,315,000 after buying an additional 770,980 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Arlo Technologies by 239.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,013,652 shares of the company’s stock worth $8,981,000 after buying an additional 714,843 shares during the period. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Stock Performance

Shares of Arlo Technologies stock opened at $10.58 on Friday. The company has a market capitalization of $1.02 billion, a P/E ratio of -44.08 and a beta of 1.86. The company has a fifty day moving average of $10.94 and a 200 day moving average of $9.74. Arlo Technologies, Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $13.34.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.04. Arlo Technologies had a negative net margin of 4.49% and a negative return on equity of 22.27%. The business had revenue of $135.09 million during the quarter, compared to the consensus estimate of $135.05 million. Analysts forecast that Arlo Technologies, Inc. will post -0.06 EPS for the current year.

Insider Buying and Selling at Arlo Technologies

In other Arlo Technologies news, General Counsel Brian Busse sold 42,161 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $10.97, for a total transaction of $462,506.17. Following the completion of the transaction, the general counsel now owns 661,878 shares of the company’s stock, valued at approximately $7,260,801.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Miller Joycelyn Carter sold 32,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $9.04, for a total value of $289,280.00. Following the completion of the transaction, the director now owns 127,012 shares of the company’s stock, valued at approximately $1,148,188.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian Busse sold 42,161 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $10.97, for a total transaction of $462,506.17. Following the completion of the transaction, the general counsel now directly owns 661,878 shares of the company’s stock, valued at approximately $7,260,801.66. The disclosure for this sale can be found here. Insiders sold 362,386 shares of company stock valued at $3,947,459 in the last 90 days. Insiders own 2.90% of the company’s stock.

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.