Emerald Advisers LLC Trims Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Emerald Advisers LLC cut its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 13.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 768,315 shares of the company’s stock after selling 115,732 shares during the quarter. Emerald Advisers LLC owned about 0.77% of Arlo Technologies worth $9,304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jupiter Asset Management Ltd. purchased a new position in shares of Arlo Technologies in the 1st quarter valued at $885,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Arlo Technologies by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock valued at $831,000 after acquiring an additional 6,757 shares during the period. Lord Abbett & CO. LLC purchased a new position in shares of Arlo Technologies in the 1st quarter valued at $8,282,000. Inspire Investing LLC purchased a new position in shares of Arlo Technologies in the 1st quarter valued at $873,000. Finally, Swedbank AB increased its holdings in shares of Arlo Technologies by 45.5% in the 2nd quarter. Swedbank AB now owns 800,000 shares of the company’s stock valued at $10,432,000 after acquiring an additional 250,000 shares during the period. 83.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ARLO shares. BWS Financial reiterated a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a report on Friday, September 27th. Roth Mkm raised their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Insiders Place Their Bets

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the sale, the chief financial officer now owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of Arlo Technologies stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the completion of the sale, the chief financial officer now owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ralph E. Faison purchased 8,842 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $11.89 per share, with a total value of $105,131.38. Following the transaction, the director now owns 385,599 shares in the company, valued at $4,584,772.11. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by insiders.

Arlo Technologies Stock Up 1.2 %

Shares of Arlo Technologies stock traded up $0.12 during trading on Friday, reaching $10.28. The company’s stock had a trading volume of 914,022 shares, compared to its average volume of 936,682. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -46.73 and a beta of 1.76. Arlo Technologies, Inc. has a 1-year low of $7.77 and a 1-year high of $17.64. The company has a 50-day simple moving average of $11.43 and a two-hundred day simple moving average of $12.66.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm 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 business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. As a group, equities analysts forecast that Arlo Technologies, Inc. will post -0.4 earnings per share for the current year.

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.