New York State Teachers Retirement System Acquires 2,774 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

New York State Teachers Retirement System lifted its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 2.1% in the third quarter, Holdings Channel reports. The fund owned 136,344 shares of the company’s stock after purchasing an additional 2,774 shares during the quarter. New York State Teachers Retirement System’s holdings in Arlo Technologies were worth $1,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smith Group Asset Management LLC raised its position in Arlo Technologies by 24.7% during the third quarter. Smith Group Asset Management LLC now owns 45,864 shares of the company’s stock valued at $555,000 after purchasing an additional 9,099 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in Arlo Technologies by 3.3% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 116,544 shares of the company’s stock valued at $1,411,000 after buying an additional 3,733 shares during the period. Raymond James & Associates lifted its position in Arlo Technologies by 15.4% in the third quarter. Raymond James & Associates now owns 415,506 shares of the company’s stock worth $5,032,000 after buying an additional 55,580 shares during the last quarter. Swedbank AB lifted its position in Arlo Technologies by 37.5% in the third quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after buying an additional 300,000 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Arlo Technologies by 35.7% during the third quarter. GAMMA Investing LLC now owns 4,406 shares of the company’s stock worth $53,000 after buying an additional 1,160 shares during the period. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Performance

ARLO stock opened at $11.92 on Friday. Arlo Technologies, Inc. has a twelve month low of $7.77 and a twelve month high of $17.64. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -54.18 and a beta of 1.78. The business’s fifty day simple moving average is $11.36 and its two-hundred day simple moving average is $12.68. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.16.

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ARLO shares. Roth Mkm raised their target price on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. BWS Financial reissued a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a research report on Friday. Finally, Craig Hallum dropped their target price on Arlo Technologies from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday.

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.