Harbour Capital Advisors LLC Takes $243,000 Position in Arlo Technologies, Inc. (NYSE:ARLO)

Harbour Capital Advisors LLC purchased a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) in the first quarter, Holdings Channel.com reports. The firm purchased 20,000 shares of the company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Arlo Technologies during the third quarter worth $38,000. Harbor Capital Advisors Inc. lifted its position in shares of Arlo Technologies by 14.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 18,769 shares of the company’s stock valued at $179,000 after purchasing an additional 2,311 shares in the last quarter. Strs Ohio boosted its holdings in Arlo Technologies by 7.3% during the fourth quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after purchasing an additional 1,300 shares during the last quarter. Victory Capital Management Inc. increased its stake in Arlo Technologies by 23.5% in the 4th quarter. Victory Capital Management Inc. now owns 19,296 shares of the company’s stock valued at $184,000 after buying an additional 3,671 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Arlo Technologies during the 1st quarter worth approximately $274,000. 83.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on ARLO shares. Roth Mkm increased their price target on Arlo Technologies from $13.75 to $16.50 and gave the company a “buy” rating in a research report on Friday, May 10th. Craig Hallum boosted their price target on shares of Arlo Technologies from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, BWS Financial restated a “buy” rating and set a $17.00 price objective on shares of Arlo Technologies in a report on Friday, May 10th.

Insider Activity

In related news, Director Amy M. Rothstein sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $13.37, for a total value of $334,250.00. Following the sale, the director now directly owns 76,271 shares of the company’s stock, valued at $1,019,743.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.80% of the stock is owned by company insiders.

Arlo Technologies Stock Up 0.4 %

Shares of NYSE ARLO opened at $13.02 on Friday. The business’s fifty day moving average price is $12.77 and its 200-day moving average price is $11.07. Arlo Technologies, Inc. has a one year low of $7.77 and a one year high of $14.52.

Arlo Technologies (NYSE:ARLO) last issued its earnings results on Thursday, May 9th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). Arlo Technologies had a negative return on equity of 16.71% and a negative net margin of 3.46%. The business had revenue of $124.20 million for the quarter, compared to the consensus estimate of $124.06 million. As a group, equities analysts anticipate that Arlo Technologies, Inc. will post -0.33 EPS for the current fiscal year.

Arlo Technologies 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.