Texas Permanent School Fund Corp grew its position in shares of Arlo Technologies, Inc. (NYSE:ARLO – Free Report) by 12.1% in the 2nd quarter, Holdings Channel reports. The firm owned 92,834 shares of the company’s stock after acquiring an additional 10,016 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Arlo Technologies were worth $1,211,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Chilton Capital Management LLC bought a new position in Arlo Technologies during the second quarter worth $33,000. GAMMA Investing LLC boosted its position 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 worth $42,000 after purchasing an additional 840 shares in the last quarter. CWM LLC grew its stake in shares of Arlo Technologies by 90.5% in the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after buying an additional 1,778 shares during the period. Hennessy Advisors Inc. acquired a new position in Arlo Technologies during the 2nd quarter worth approximately $138,000. Finally, Raymond James Trust N.A. acquired a new stake in Arlo Technologies in the second quarter valued at approximately $174,000. Institutional investors and hedge funds own 83.18% of the company’s stock.
Arlo Technologies Stock Up 2.9 %
ARLO stock opened at $11.66 on Friday. The firm has a market capitalization of $1.14 billion, a PE ratio of -64.78 and a beta of 1.76. 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, Inc. has a twelve month low of $7.77 and a twelve month high of $17.64. The stock’s 50 day moving average is $13.18 and its 200-day moving average is $12.77.
Insiders Place Their Bets
In other news, Director Ralph E. Faison bought 8,842 shares of the company’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $11.89 per share, with a total value of $105,131.38. Following the transaction, 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 SEC, which can be accessed through this link. In other Arlo Technologies news, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the sale, the director now owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ralph E. Faison purchased 8,842 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $11.89 per share, with a total value of $105,131.38. Following the purchase, the director now owns 385,599 shares in the company, valued at $4,584,772.11. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
ARLO has been the topic of a number of research reports. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, August 9th. Roth Mkm raised their price objective on shares of Arlo Technologies from $16.50 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.
Get Our Latest Analysis on ARLO
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.
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