Allspring Global Investments Holdings LLC Has $518,000 Position in Arlo Technologies, Inc. (NYSE:ARLO)

Allspring Global Investments Holdings LLC grew its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 24.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,081 shares of the company’s stock after acquiring an additional 10,448 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of Arlo Technologies worth $518,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock worth $26,000 after acquiring an additional 1,191 shares during the period. GAMMA Investing LLC grew its holdings in Arlo Technologies by 40.9% during the 1st quarter. GAMMA Investing LLC now owns 7,212 shares of the company’s stock worth $71,000 after acquiring an additional 2,095 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Arlo Technologies during the 1st quarter worth about $123,000. Balboa Wealth Partners acquired a new stake in Arlo Technologies during the 4th quarter worth about $129,000. Finally, Bank of Montreal Can acquired a new stake in Arlo Technologies during the 4th quarter worth about $130,000. 83.18% of the stock is currently owned by institutional investors and hedge funds.

Arlo Technologies Price Performance

ARLO stock opened at $16.28 on Friday. The stock has a market capitalization of $1.69 billion, a PE ratio of -74.00 and a beta of 2.03. The company’s 50-day moving average is $15.08 and its 200-day moving average is $12.31. Arlo Technologies, Inc. has a 1 year low of $7.84 and a 1 year high of $17.98.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $119.07 million for the quarter, compared to analysts’ expectations of $118.35 million. Arlo Technologies had a negative net margin of 4.29% and a negative return on equity of 21.67%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS. On average, analysts anticipate that Arlo Technologies, Inc. will post -0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, BWS Financial reissued a “buy” rating and set a $24.00 price objective on shares of Arlo Technologies in a research report on Monday, June 9th.

Insider Activity at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 372,488 shares of the firm’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $17.14, for a total value of $6,384,444.32. Following the transaction, the chief executive officer owned 2,290,493 shares of the company’s stock, valued at approximately $39,259,050.02. This trade represents a 13.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurtis Joseph Binder sold 135,183 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $10.37, for a total transaction of $1,401,847.71. Following the completion of the transaction, the chief financial officer directly owned 1,092,274 shares in the company, valued at approximately $11,326,881.38. The trade was a 11.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,589,447 shares of company stock valued at $25,137,645. 5.20% of the stock is owned by corporate insiders.

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.