Arlo Technologies, Inc. (NYSE:ARLO) Short Interest Update

Arlo Technologies, Inc. (NYSE:ARLO) was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 5,780,000 shares, a growth of 17.5% from the July 31st total of 4,920,000 shares. Based on an average daily trading volume, of 963,200 shares, the short-interest ratio is presently 6.0 days.

Analyst Ratings Changes

Several brokerages have issued reports on ARLO. Craig Hallum upped their target price on Arlo Technologies from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a report on Friday, August 9th. Finally, Roth Mkm lifted their target price on shares of 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 news, Director Amy M. Rothstein sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the transaction, the director now directly owns 75,032 shares in the company, valued at $1,112,724.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction dated 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 approximately $1,112,724.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ralph E. Faison acquired 8,842 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $11.89 per share, with a total value of $105,131.38. Following the acquisition, the director now directly owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The disclosure for this purchase can be found here. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Brandes Investment Partners LP boosted its holdings in Arlo Technologies by 1.0% in the second quarter. Brandes Investment Partners LP now owns 5,140,826 shares of the company’s stock worth $66,991,000 after acquiring an additional 53,242 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in Arlo Technologies by 11.1% in the 2nd quarter. SkyView Investment Advisors LLC now owns 42,249 shares of the company’s stock valued at $551,000 after acquiring an additional 4,235 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Arlo Technologies by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,944 shares of the company’s stock valued at $469,000 after purchasing an additional 2,912 shares during the last quarter. Deerfield Management Company L.P. Series C purchased a new stake in shares of Arlo Technologies during the second quarter valued at $184,000. Finally, Engle Capital Management L.P. increased its holdings in Arlo Technologies by 25.6% in the 2nd quarter. Engle Capital Management L.P. now owns 1,130,000 shares of the company’s stock worth $14,735,000 after buying an additional 230,000 shares in the last quarter. 83.18% of the stock is owned by hedge funds and other institutional investors.

Arlo Technologies Trading Down 2.7 %

NYSE ARLO traded down $0.32 on Monday, hitting $11.74. The company’s stock had a trading volume of 1,219,400 shares, compared to its average volume of 998,994. The firm has a market cap of $1.17 billion, a P/E ratio of -65.22 and a beta of 1.83. Arlo Technologies has a 52-week low of $7.77 and a 52-week high of $17.64. The company’s 50-day simple moving average is $13.87 and its 200 day simple moving average is $12.62. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16.

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

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.