Deerfield Management Company L.P. Series C Invests $184,000 in Arlo Technologies, Inc. (NYSE:ARLO)

Deerfield Management Company L.P. Series C acquired a new stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 14,145 shares of the company’s stock, valued at approximately $184,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ARLO. Engle Capital Management L.P. grew its holdings in shares of Arlo Technologies by 25.6% during the second quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock worth $14,735,000 after purchasing an additional 230,000 shares during the last quarter. Squarepoint Ops LLC boosted its position in Arlo Technologies by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 83,975 shares of the company’s stock worth $1,095,000 after buying an additional 7,143 shares during the period. Public Sector Pension Investment Board grew its holdings in Arlo Technologies by 9.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 214,742 shares of the company’s stock worth $2,800,000 after acquiring an additional 18,377 shares during the last quarter. Westwood Holdings Group Inc. increased its position in Arlo Technologies by 289.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 941,237 shares of the company’s stock valued at $12,274,000 after acquiring an additional 699,724 shares during the period. Finally, Intech Investment Management LLC bought a new position in shares of Arlo Technologies during the second quarter valued at $287,000. Institutional investors own 83.18% of the company’s stock.

Analysts Set New Price Targets

ARLO has been the subject of a number of recent research reports. BWS Financial restated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a report on Friday. Roth Mkm raised their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd.

Arlo Technologies Price Performance

Shares of NYSE ARLO opened at $11.83 on Friday. The company has a market capitalization of $1.15 billion, a PE ratio of -65.72 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 firm has a fifty day simple moving average of $12.61 and a 200 day simple moving average of $12.80.

Arlo Technologies (NYSE:ARLO) last announced 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. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The company had revenue of $127.45 million for the quarter, compared to the consensus estimate of $125.03 million. During the same period in the previous year, the business earned ($0.08) EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts forecast that Arlo Technologies, Inc. will post -0.4 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ralph E. Faison bought 8,842 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $11.89 per share, for a total transaction of $105,131.38. Following the transaction, the director now directly owns 385,599 shares of the company’s stock, valued at $4,584,772.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the sale, the director now owns 75,032 shares in the company, valued at $1,112,724.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ralph E. Faison bought 8,842 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased 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. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.

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.