Arlo Technologies, Inc. (NYSE:ARLO) Holdings Lowered by Advisor Group Holdings Inc.
Advisor Group Holdings Inc. cut its stake in Arlo Technologies, Inc. (NYSE:ARLO – Get Rating) by 94.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 697 shares of the company’s stock after selling 12,459 shares during the period. Advisor Group Holdings Inc.’s holdings in Arlo Technologies were worth $475,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in ARLO. ProShare Advisors LLC boosted its stake in Arlo Technologies by 64.9% during the 4th quarter. ProShare Advisors LLC now owns 21,092 shares of the company’s stock valued at $221,000 after purchasing an additional 8,302 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in Arlo Technologies by 4.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 33,607 shares of the company’s stock valued at $353,000 after acquiring an additional 1,413 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Arlo Technologies by 0.5% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 409.071 shares of the company’s stock valued at $4,291,000 after purchasing an additional 1,845 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Arlo Technologies in the 4th quarter worth approximately $121,000. Finally, Rhumbline Advisers lifted its stake in Arlo Technologies by 3.3% during the fourth quarter. Rhumbline Advisers now owns 199,628 shares of the company’s stock valued at $2,094,000 after purchasing an additional 6,444 shares during the last quarter. Institutional investors and hedge funds own 73.77% of the company’s stock.
Insiders Place Their Bets
In related news, CFO Gordon Mattingly sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $7.01, for a total value of $175,250.00. Following the completion of the sale, the chief financial officer now owns 682,209 shares in the company, valued at approximately $4,782,285.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Prashant Aggarwal sold 122,636 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $8.00, for a total value of $981,088.00. Following the completion of the sale, the director now directly owns 27,397 shares of the company’s stock, valued at $219,176. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gordon Mattingly sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $7.01, for a total transaction of $175,250.00. Following the sale, the chief financial officer now owns 682,209 shares of the company’s stock, valued at $4,782,285.09. The disclosure for this sale can be found here. Insiders sold a total of 182,636 shares of company stock worth $1,436,338 over the last ninety days. 2.60% of the stock is currently owned by company insiders.
Arlo Technologies Stock Performance
Arlo Technologies stock opened at $6.22 on Wednesday. Arlo Technologies, Inc. has a 1 year low of $5.81 and a 1 year high of $11.79. The firm’s 50 day moving average price is $6.71 and its two-hundred day moving average price is $7.64. The firm has a market cap of $545.07 million, a price-to-earnings ratio of -12.69 and a beta of 1.62.
Arlo Technologies (NYSE:ARLO – Get Rating) last announced its earnings results on Tuesday, August 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. Arlo Technologies had a negative return on equity of 38.13% and a negative net margin of 8.44%. The company had revenue of $118.98 million for the quarter, compared to analyst estimates of $110.37 million. During the same period in the previous year, the firm earned ($0.28) earnings per share. Arlo Technologies’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equity analysts predict that Arlo Technologies, Inc. will post -0.65 EPS for the current fiscal year.
Arlo Technologies Company Profile
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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. It combines an intelligent cloud infrastructure and mobile app with various smart connected devices. The company offers Arlo essential indoor camera; Arlo Go 2 LTE/Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allows users to monitor their surroundings; and Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile security.
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