47,300 Shares in Arlo Technologies, Inc. (NYSE:ARLO) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in Arlo Technologies, Inc. (NYSE:ARLO) in the 4th quarter, Holdings Channel reports. The firm purchased 47,300 shares of the company’s stock, valued at approximately $450,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its position in Arlo Technologies by 328.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,534,778 shares of the company’s stock worth $15,808,000 after purchasing an additional 1,176,530 shares during the last quarter. Brandes Investment Partners LP grew its stake in shares of Arlo Technologies by 29.4% during the 3rd quarter. Brandes Investment Partners LP now owns 4,150,886 shares of the company’s stock valued at $42,754,000 after buying an additional 943,089 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Arlo Technologies by 229.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 889,422 shares of the company’s stock worth $9,161,000 after buying an additional 619,049 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Arlo Technologies by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 9,504,819 shares of the company’s stock worth $97,900,000 after buying an additional 451,236 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Arlo Technologies by 89.6% in the third quarter. Federated Hermes Inc. now owns 944,093 shares of the company’s stock valued at $9,724,000 after acquiring an additional 446,270 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Stock Up 2.6 %

Arlo Technologies stock opened at $12.11 on Tuesday. The firm has a market capitalization of $1.16 billion, a P/E ratio of -50.44 and a beta of 1.86. The firm has a fifty day moving average of $11.29 and a 200-day moving average of $9.83. Arlo Technologies, Inc. has a 52-week low of $6.24 and a 52-week high of $13.34.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. The firm had revenue of $135.09 million during the quarter, compared to the consensus estimate of $135.05 million. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. On average, research analysts expect that Arlo Technologies, Inc. will post -0.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Arlo Technologies news, General Counsel Brian Busse sold 56,973 shares of the stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Miller Joycelyn Carter sold 32,000 shares of Arlo Technologies 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 sale, 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 filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian Busse sold 56,973 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $11.68, for a total value of $665,444.64. Following the completion of the transaction, the general counsel now owns 604,905 shares in the company, valued at approximately $7,065,290.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 362,386 shares of company stock valued at $3,947,459. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Separately, BWS Financial restated a “buy” rating and set a $17.00 price target on shares of Arlo Technologies in a research note on Wednesday, April 24th.

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.