Teacher Retirement System of Texas Raises Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Teacher Retirement System of Texas boosted its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 66.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,791 shares of the company’s stock after purchasing an additional 12,640 shares during the quarter. Teacher Retirement System of Texas’ holdings in Arlo Technologies were worth $314,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Arlo Technologies by 40.9% during the first quarter. GAMMA Investing LLC now owns 7,212 shares of the company’s stock valued at $71,000 after acquiring an additional 2,095 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Arlo Technologies during the first quarter valued at approximately $123,000. Bank of Montreal Can acquired a new position in shares of Arlo Technologies during the fourth quarter valued at approximately $130,000. Hsbc Holdings PLC raised its holdings in shares of Arlo Technologies by 9.7% during the fourth quarter. Hsbc Holdings PLC now owns 12,470 shares of the company’s stock valued at $140,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Bridgefront Capital LLC acquired a new position in shares of Arlo Technologies during the fourth quarter valued at approximately $141,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Arlo Technologies

In related news, CEO Matthew Blake Mcrae sold 113,322 shares of the stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $17.22, for a total value of $1,951,404.84. Following the completion of the transaction, the chief executive officer directly owned 1,439,735 shares in the company, valued at approximately $24,792,236.70. This represents a 7.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kurtis Joseph Binder sold 92,247 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $17.17, for a total value of $1,583,880.99. Following the completion of the transaction, the chief financial officer owned 923,527 shares of the company’s stock, valued at $15,856,958.59. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,589,447 shares of company stock valued at $25,137,645. 5.20% of the stock is currently owned by insiders.

Arlo Technologies Stock Performance

NYSE:ARLO opened at $16.33 on Friday. Arlo Technologies, Inc. has a one year low of $7.84 and a one year high of $17.98. The stock has a market cap of $1.69 billion, a PE ratio of -74.23 and a beta of 2.03. The stock has a 50 day moving average price of $15.73 and a 200 day moving average price of $12.51.

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

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.