Victory Capital Management Inc. Buys 48,178 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Victory Capital Management Inc. lifted its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 250.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,429 shares of the company’s stock after acquiring an additional 48,178 shares during the period. Victory Capital Management Inc. owned 0.07% of Arlo Technologies worth $879,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ARLO. GAMMA Investing LLC increased its position in Arlo Technologies by 34.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after buying an additional 840 shares during the period. Texas Permanent School Fund Corp increased its position in Arlo Technologies by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 82,818 shares of the company’s stock worth $1,048,000 after buying an additional 1,106 shares during the period. ProShare Advisors LLC increased its position in Arlo Technologies by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 18,158 shares of the company’s stock worth $230,000 after buying an additional 1,241 shares during the period. CWM LLC increased its position in Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after buying an additional 1,778 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Arlo Technologies by 4.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 49,100 shares of the company’s stock worth $640,000 after buying an additional 2,200 shares during the period. 83.18% of the stock is owned by institutional investors.

Arlo Technologies Stock Performance

ARLO opened at $11.72 on Friday. The stock has a market cap of $1.14 billion, a PE ratio of -65.11 and a beta of 1.76. 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 stock’s 50 day simple moving average is $13.10 and its 200-day simple moving average is $12.77.

Arlo Technologies (NYSE:ARLO) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $127.45 million for 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%. Arlo Technologies’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.08) earnings per share. Sell-side analysts forecast that Arlo Technologies, Inc. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ARLO. BWS Financial reaffirmed a “buy” rating and issued a $24.00 price target on shares of Arlo Technologies in a research report on Friday, August 9th. Roth Mkm lifted their price target on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Insider Activity

In other news, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $14.83, for a total transaction of $222,450.00. Following the sale, the director now directly owns 75,032 shares in the company, valued at $1,112,724.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Ralph E. Faison purchased 8,842 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $11.89 per share, with a total value of $105,131.38. Following the purchase, the director now directly owns 385,599 shares in the company, valued at $4,584,772.11. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy M. Rothstein sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the sale, the director now directly owns 75,032 shares in the company, valued at approximately $1,112,724.56. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

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.