Jane Street Group LLC Reduces Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Jane Street Group LLC trimmed its position in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 44.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,959 shares of the company’s stock after selling 62,536 shares during the quarter. Jane Street Group LLC owned 0.08% of Arlo Technologies worth $861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of ARLO. Emerald Mutual Fund Advisers Trust lifted its position in shares of Arlo Technologies by 57.1% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 875,965 shares of the company’s stock worth $9,802,000 after purchasing an additional 318,501 shares during the last quarter. Northern Trust Corp lifted its position in shares of Arlo Technologies by 11.7% during the fourth quarter. Northern Trust Corp now owns 1,711,116 shares of the company’s stock worth $19,147,000 after purchasing an additional 179,288 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Arlo Technologies during the fourth quarter worth $499,000. Price T Rowe Associates Inc. MD lifted its position in shares of Arlo Technologies by 9.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,807 shares of the company’s stock worth $916,000 after purchasing an additional 7,319 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Arlo Technologies during the fourth quarter worth $366,000. 83.18% of the stock is owned by hedge funds and other institutional investors.

Arlo Technologies Stock Performance

Shares of ARLO stock opened at $13.28 on Friday. Arlo Technologies, Inc. has a fifty-two week low of $7.84 and a fifty-two week high of $17.64. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -53.12 and a beta of 1.81. The stock’s 50-day simple moving average is $10.53 and its 200-day simple moving average is $11.32.

Arlo Technologies (NYSE:ARLO) last issued its earnings results on Thursday, May 8th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $119.07 million for the quarter, compared to analyst estimates of $118.35 million. Arlo Technologies had a negative return on equity of 24.14% and a negative net margin of 4.76%. Arlo Technologies’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. As a group, equities analysts forecast that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Insider Activity at Arlo Technologies

In related news, General Counsel Brian Busse sold 6,593 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $11.50, for a total value of $75,819.50. Following the sale, the general counsel now owns 612,743 shares in the company, valued at $7,046,544.50. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 259,227 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $12.03, for a total value of $3,118,500.81. Following the completion of the sale, the chief executive officer now owns 2,945,905 shares in the company, valued at approximately $35,439,237.15. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,147,062 shares of company stock worth $12,620,137 over the last quarter. Insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BWS Financial reiterated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Thursday, April 24th. Roth Capital set a $22.00 target price on Arlo Technologies in a research report on Friday, February 28th. Finally, Craig Hallum lifted their target price on Arlo Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 28th.

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.