Mackenzie Financial Corp Has $143,000 Stock Position in Arlo Technologies, Inc. (NYSE:ARLO)

Mackenzie Financial Corp decreased its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 81.2% in the second quarter, HoldingsChannel reports. The firm owned 10,945 shares of the company’s stock after selling 47,185 shares during the period. Mackenzie Financial Corp’s holdings in Arlo Technologies were worth $143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of Arlo Technologies by 34.9% in the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after purchasing an additional 840 shares during the period. Arizona State Retirement System boosted its position in shares of Arlo Technologies by 3.5% in the 2nd quarter. Arizona State Retirement System now owns 25,577 shares of the company’s stock valued at $334,000 after purchasing an additional 871 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Arlo Technologies by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 82,818 shares of the company’s stock valued at $1,048,000 after purchasing an additional 1,106 shares during the period. ProShare Advisors LLC lifted its stake 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 acquiring an additional 1,241 shares in the last quarter. Finally, CWM LLC lifted its stake 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 acquiring an additional 1,778 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Arlo Technologies Stock Down 2.9 %

Shares of ARLO stock opened at $11.14 on Tuesday. The stock’s 50 day simple moving average is $12.09 and its 200 day simple moving average is $12.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.23 and a current ratio of 1.48. Arlo Technologies, Inc. has a twelve month low of $7.77 and a twelve month high of $17.64. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -61.89 and a beta of 1.76.

Arlo Technologies (NYSE:ARLO) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The business had revenue of $127.45 million for the quarter, compared to the consensus estimate of $125.03 million. During the same period last year, the business earned ($0.08) EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, research analysts predict that Arlo Technologies, Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BWS Financial reissued a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research note on Friday, September 27th. Roth Mkm increased their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Insider Activity at Arlo Technologies

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

About Arlo Technologies

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.