Federated Hermes Inc. Sells 36,564 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Federated Hermes Inc. trimmed its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 3.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 907,529 shares of the company’s stock after selling 36,564 shares during the quarter. Federated Hermes Inc.’s holdings in Arlo Technologies were worth $8,640,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Arlo Technologies by 24.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,725 shares of the company’s stock worth $216,000 after purchasing an additional 4,398 shares in the last quarter. Strs Ohio grew its position in Arlo Technologies by 7.3% during the fourth quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after buying an additional 1,300 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Arlo Technologies during the 4th quarter worth $450,000. Allspring Global Investments Holdings LLC raised its holdings in Arlo Technologies by 136.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 58,929 shares of the company’s stock valued at $561,000 after acquiring an additional 33,984 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Arlo Technologies by 14.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 18,769 shares of the company’s stock worth $179,000 after purchasing an additional 2,311 shares during the period. 83.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, BWS Financial restated a “buy” rating and set a $17.00 target price on shares of Arlo Technologies in a research note on Wednesday.

Arlo Technologies Stock Performance

Shares of NYSE:ARLO opened at $11.03 on Thursday. The firm has a market cap of $1.06 billion, a PE ratio of -45.96 and a beta of 1.86. The firm’s fifty day moving average is $11.13 and its 200-day moving average is $9.78. Arlo Technologies, Inc. has a 52 week low of $6.18 and a 52 week high of $13.34.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings results on Thursday, February 29th. The company reported $0.01 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $135.09 million during the quarter, compared to analyst estimates of $135.05 million. Sell-side analysts forecast that Arlo Technologies, Inc. will post -0.06 EPS for the current year.

Insider Buying and Selling

In other Arlo Technologies news, Director Miller Joycelyn Carter sold 32,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $9.04, for a total transaction of $289,280.00. Following the completion of the sale, the director now directly owns 127,012 shares in the company, valued at approximately $1,148,188.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Arlo Technologies news, Director Miller Joycelyn Carter sold 32,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $9.04, for a total value of $289,280.00. Following the transaction, the director now directly owns 127,012 shares of the company’s stock, valued at $1,148,188.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian Busse sold 42,161 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $10.97, for a total transaction of $462,506.17. Following the sale, 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 over the last quarter. Insiders own 2.90% of the company’s stock.

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.