Public Sector Pension Investment Board Acquires 18,377 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Public Sector Pension Investment Board raised its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,742 shares of the company’s stock after acquiring an additional 18,377 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.22% of Arlo Technologies worth $2,800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Arlo Technologies by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 9,556,442 shares of the company’s stock worth $90,977,000 after purchasing an additional 51,623 shares during the last quarter. Cannell Capital LLC boosted its holdings in shares of Arlo Technologies by 6.8% in the 4th quarter. Cannell Capital LLC now owns 2,480,703 shares of the company’s stock valued at $23,616,000 after buying an additional 158,580 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Arlo Technologies by 12.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,414,400 shares of the company’s stock valued at $18,444,000 after buying an additional 154,100 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Arlo Technologies by 6.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 948,042 shares of the company’s stock worth $9,025,000 after acquiring an additional 58,620 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its position in Arlo Technologies by 289.7% during the second quarter. Westwood Holdings Group Inc. now owns 941,237 shares of the company’s stock valued at $12,274,000 after acquiring an additional 699,724 shares during the last quarter. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Arlo Technologies Trading Down 1.2 %

NYSE ARLO opened at $11.83 on Friday. The stock has a market cap of $1.15 billion, a P/E ratio of -65.72 and a beta of 1.76. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16. Arlo Technologies, Inc. has a 12-month low of $7.77 and a 12-month high of $17.64. The company has a fifty day simple moving average of $12.61 and a two-hundred day simple moving average of $12.80.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $127.45 million during the quarter, compared to analysts’ expectations of $125.03 million. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) EPS. On average, analysts forecast that Arlo Technologies, Inc. will post -0.4 earnings per share for the current year.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total transaction of $222,450.00. Following the completion of the transaction, the director now directly owns 75,032 shares of the company’s stock, valued at approximately $1,112,724.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the sale, the director now directly owns 75,032 shares of the company’s stock, valued at approximately $1,112,724.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ralph E. Faison acquired 8,842 shares of Arlo Technologies stock in a transaction on Monday, August 12th. The shares were bought at an average price of $11.89 per share, with a total value of $105,131.38. Following the purchase, the director now directly owns 385,599 shares in the company, valued at approximately $4,584,772.11. The disclosure for this purchase can be found here. 3.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Roth Mkm increased their price objective on Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a report on Monday, July 22nd. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research note on Friday.

Arlo Technologies Company 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.