Arlo Technologies, Inc. (NYSE:ARLO) Stake Cut by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC lessened its holdings in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 22.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 120,581 shares of the company’s stock after selling 34,907 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Arlo Technologies were worth $1,572,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Chilton Capital Management LLC purchased a new position in Arlo Technologies during the second quarter valued at approximately $33,000. GAMMA Investing LLC boosted its stake in shares of Arlo Technologies by 34.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after buying an additional 840 shares during the period. CWM LLC grew its holdings in shares of Arlo Technologies by 90.5% during the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after acquiring an additional 1,778 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Arlo Technologies in the second quarter worth $62,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Arlo Technologies during the second quarter worth $138,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Down 3.0 %

Arlo Technologies stock opened at $11.75 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16. Arlo Technologies, Inc. has a 1-year low of $7.77 and a 1-year high of $17.64. The firm’s fifty day simple moving average is $12.53 and its 200-day simple moving average is $12.82. The company has a market capitalization of $1.15 billion, a P/E ratio of -65.28 and a beta of 1.76.

Arlo Technologies (NYSE:ARLO) last posted its earnings results on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $127.45 million for the quarter, compared to analyst estimates 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 revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. Sell-side analysts forecast that Arlo Technologies, Inc. will post -0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Arlo Technologies news, CFO Kurtis Joseph Binder sold 7,098 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $11.94, for a total transaction of $84,750.12. Following the transaction, the chief financial officer now owns 892,595 shares in the company, valued at $10,657,584.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Arlo Technologies news, Director Ralph E. Faison acquired 8,842 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $11.89 per share, for a total transaction of $105,131.38. Following the completion of the purchase, the director now owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kurtis Joseph Binder sold 7,098 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $11.94, for a total value of $84,750.12. Following the transaction, the chief financial officer now directly owns 892,595 shares of the company’s stock, valued at approximately $10,657,584.30. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

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.