Mackenzie Financial Corp Sells 14,611 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Mackenzie Financial Corp reduced its position in Arlo Technologies, Inc. (NYSE:ARLO) by 18.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 65,786 shares of the company’s stock after selling 14,611 shares during the period. Mackenzie Financial Corp owned 0.06% of Arlo Technologies worth $649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ARLO. Hsbc Holdings PLC grew 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 worth $140,000 after purchasing an additional 1,103 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Arlo Technologies by 3.3% during the first quarter. OneDigital Investment Advisors LLC now owns 36,262 shares of the company’s stock worth $358,000 after purchasing an additional 1,154 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Arlo Technologies by 1.3% during the fourth quarter. California State Teachers Retirement System now owns 93,320 shares of the company’s stock worth $1,044,000 after purchasing an additional 1,232 shares in the last quarter. GAMMA Investing LLC grew 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 worth $71,000 after purchasing an additional 2,095 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Arlo Technologies by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 58,223 shares of the company’s stock worth $652,000 after purchasing an additional 3,221 shares in the last quarter. 83.18% of the stock is currently owned by institutional investors.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 25,380 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $16.56, for a total transaction of $420,292.80. Following the completion of the transaction, the chief executive officer owned 1,461,705 shares in the company, valued at $24,205,834.80. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kurtis Joseph Binder sold 92,247 shares of Arlo Technologies 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 approximately $15,856,958.59. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,340,873 shares of company stock worth $22,728,975 in the last three months. 5.20% of the stock is owned by corporate insiders.

Arlo Technologies Stock Up 0.0%

NYSE ARLO opened at $16.06 on Thursday. The stock’s 50-day moving average price is $16.42 and its 200-day moving average price is $12.93. Arlo Technologies, Inc. has a 52 week low of $7.84 and a 52 week high of $17.98. The company has a market capitalization of $1.67 billion, a P/E ratio of -73.01 and a beta of 1.85.

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

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research note on Monday, June 9th.

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.