Allspring Global Investments Holdings LLC Has $561,000 Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Allspring Global Investments Holdings LLC increased its position in Arlo Technologies, Inc. (NYSE:ARLO) by 136.2% in the fourth quarter, HoldingsChannel reports. The firm owned 58,929 shares of the company’s stock after acquiring an additional 33,984 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Arlo Technologies were worth $561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ARLO. Acadian Asset Management LLC purchased a new stake in Arlo Technologies in the 3rd quarter worth approximately $38,000. Victory Capital Management Inc. lifted its position in Arlo Technologies by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,625 shares of the company’s stock worth $161,000 after buying an additional 1,378 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Arlo Technologies by 51.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,458 shares of the company’s stock worth $170,000 after buying an additional 5,561 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Arlo Technologies in the 3rd quarter worth approximately $184,000. Finally, Strs Ohio lifted its position in Arlo Technologies by 203.4% in the 3rd quarter. Strs Ohio now owns 17,900 shares of the company’s stock worth $184,000 after buying an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Insider Activity

In other news, General Counsel Brian Busse sold 56,973 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $11.68, for a total transaction of $665,444.64. Following the transaction, the general counsel now owns 604,905 shares in the company, valued at approximately $7,065,290.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Brian Busse sold 56,973 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $11.68, for a total value of $665,444.64. Following the transaction, the general counsel now directly owns 604,905 shares in the company, valued at approximately $7,065,290.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Blake Mcrae sold 132,214 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $10.95, for a total transaction of $1,447,743.30. Following the completion of the transaction, the chief executive officer now owns 2,314,950 shares in the company, valued at $25,348,702.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 362,386 shares of company stock worth $3,947,459. 2.90% of the stock is owned by corporate insiders.

Arlo Technologies Trading Up 1.6 %

Arlo Technologies stock opened at $11.21 on Friday. The company has a market capitalization of $1.08 billion, a P/E ratio of -46.69 and a beta of 1.86. The firm’s fifty day simple moving average is $11.16 and its 200-day simple moving average is $9.79. Arlo Technologies, Inc. has a 1-year low of $6.19 and a 1-year 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 for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $135.09 million for the quarter, compared to the consensus estimate of $135.05 million. Arlo Technologies had a negative net margin of 4.49% and a negative return on equity of 22.27%. On average, equities research analysts predict that Arlo Technologies, Inc. will post -0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reiterated a “buy” rating and issued a $17.00 target price on shares of Arlo Technologies in a research report on Wednesday.

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.