Northern Trust Corp Grows Position in Arlo Technologies, Inc. (NYSE:ARLO)

Northern Trust Corp raised its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 11.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,711,116 shares of the company’s stock after acquiring an additional 179,288 shares during the period. Northern Trust Corp’s holdings in Arlo Technologies were worth $19,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ARLO. Susquehanna Fundamental Investments LLC bought a new stake in Arlo Technologies during the 4th quarter worth approximately $499,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Arlo Technologies by 9.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 81,807 shares of the company’s stock worth $916,000 after buying an additional 7,319 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Arlo Technologies during the 4th quarter valued at $366,000. Hsbc Holdings PLC lifted its holdings in shares of Arlo Technologies by 9.7% during the 4th quarter. Hsbc Holdings PLC now owns 12,470 shares of the company’s stock worth $140,000 after acquiring an additional 1,103 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in shares of Arlo Technologies by 40.2% during the 4th quarter. OneDigital Investment Advisors LLC now owns 35,108 shares of the company’s stock worth $393,000 after acquiring an additional 10,075 shares during the last quarter. Institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Up 2.8%

NYSE ARLO opened at $13.70 on Wednesday. The firm has a market capitalization of $1.42 billion, a PE ratio of -54.80 and a beta of 1.81. The stock’s 50 day moving average is $10.05 and its 200 day moving average is $11.14. Arlo Technologies, Inc. has a twelve month low of $7.84 and a twelve month high of $17.64.

Arlo Technologies (NYSE:ARLO) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $119.07 million during the quarter, compared to analyst estimates of $118.35 million. Arlo Technologies had a negative return on equity of 24.14% and a negative net margin of 4.76%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. On average, research analysts anticipate that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

ARLO has been the subject of a number of research reports. BWS Financial reiterated a “buy” rating and issued a $24.00 price objective on shares of Arlo Technologies in a report on Thursday, April 24th. Roth Capital set a $22.00 target price on Arlo Technologies in a research note on Friday, February 28th. Finally, Craig Hallum increased their price target on shares of Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th.

Insider Buying and Selling

In other Arlo Technologies news, General Counsel Brian Busse sold 21,367 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $10.37, for a total transaction of $221,575.79. Following the completion of the sale, the general counsel now owns 656,785 shares of the company’s stock, valued at approximately $6,810,860.45. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew Blake Mcrae sold 259,227 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $12.03, for a total transaction of $3,118,500.81. Following the completion of the sale, the chief executive officer now directly owns 2,945,905 shares of the company’s stock, valued at $35,439,237.15. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,147,062 shares of company stock worth $12,620,137. 5.20% of the stock is owned by corporate insiders.

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.