Illinois Municipal Retirement Fund Buys 3,143 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Illinois Municipal Retirement Fund grew its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 6.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,112 shares of the company’s stock after purchasing an additional 3,143 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Arlo Technologies worth $525,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Arlo Technologies in the 3rd quarter worth $38,000. Victory Capital Management Inc. increased its stake in shares of Arlo Technologies by 9.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,625 shares of the company’s stock worth $161,000 after acquiring an additional 1,378 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Arlo Technologies by 51.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 16,458 shares of the company’s stock worth $170,000 after acquiring an additional 5,561 shares in the last quarter. Strs Ohio increased its stake in shares of Arlo Technologies by 7.3% in the 4th quarter. Strs Ohio now owns 19,200 shares of the company’s stock worth $182,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Arlo Technologies in the 3rd quarter worth about $184,000. 83.18% of the stock is currently owned by institutional investors.

Arlo Technologies Stock Performance

Shares of Arlo Technologies stock opened at $12.40 on Wednesday. The stock has a market capitalization of $1.19 billion, a PE ratio of -51.67 and a beta of 1.86. The company has a 50-day simple moving average of $11.36 and a two-hundred day simple moving average of $9.86. Arlo Technologies, Inc. has a 52-week low of $6.24 and a 52-week high of $13.34.

Arlo Technologies (NYSE:ARLO) last posted its earnings results on Thursday, February 29th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $135.09 million during the quarter, compared to analyst estimates of $135.05 million. Arlo Technologies had a negative return on equity of 22.27% and a negative net margin of 4.49%. As a group, equities research analysts forecast that Arlo Technologies, Inc. will post -0.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, BWS Financial reiterated a “buy” rating and issued a $17.00 price target on shares of Arlo Technologies in a research note on Wednesday, April 24th.

Insider Buying and Selling at Arlo Technologies

In other news, General Counsel Brian Busse sold 56,973 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $11.68, for a total transaction of $665,444.64. Following the completion of the transaction, the general counsel now directly owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Arlo Technologies news, Director Miller Joycelyn Carter sold 32,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $9.04, for a total value of $289,280.00. Following the transaction, the director now owns 127,012 shares of the company’s stock, valued at $1,148,188.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian Busse sold 56,973 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $11.68, for a total value of $665,444.64. Following the sale, the general counsel now owns 604,905 shares of the company’s stock, valued at $7,065,290.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 362,386 shares of company stock worth $3,947,459. Company insiders own 2.90% of the company’s stock.

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.