SG Americas Securities LLC Purchases 5,862 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

SG Americas Securities LLC grew its position in Arlo Technologies, Inc. (NYSE:ARLO) by 21.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,130 shares of the company’s stock after buying an additional 5,862 shares during the quarter. SG Americas Securities LLC’s holdings in Arlo Technologies were worth $327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Arlo Technologies by 2.3% in the fourth quarter. Rhumbline Advisers now owns 269,338 shares of the company’s stock valued at $3,014,000 after buying an additional 6,101 shares during the period. Principal Financial Group Inc. raised its holdings in Arlo Technologies by 3.4% during the 4th quarter. Principal Financial Group Inc. now owns 489,270 shares of the company’s stock worth $5,475,000 after purchasing an additional 16,211 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Arlo Technologies by 5.0% in the fourth quarter. Sanctuary Advisors LLC now owns 47,559 shares of the company’s stock valued at $555,000 after buying an additional 2,284 shares during the period. Truist Financial Corp boosted its position in shares of Arlo Technologies by 14.3% during the 4th quarter. Truist Financial Corp now owns 22,759 shares of the company’s stock valued at $255,000 after purchasing an additional 2,841 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in Arlo Technologies by 15.1% during the fourth quarter. New York State Common Retirement Fund now owns 182,546 shares of the company’s stock worth $2,043,000 after purchasing an additional 23,954 shares during the period. Institutional investors own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ARLO shares. BWS Financial restated a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a report on Monday, June 9th. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th. Finally, Craig Hallum raised their price objective 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 Activity

In other news, General Counsel Brian Busse sold 21,367 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The shares were 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 in the company, valued at $6,810,860.45. This trade represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Blake Mcrae sold 25,405 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $9.90, for a total transaction of $251,509.50. Following the sale, the chief executive officer now directly owns 2,580,370 shares in the company, valued at $25,545,663. This represents a 0.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,140,576 shares of company stock valued at $17,497,854. Corporate insiders own 5.20% of the company’s stock.

Arlo Technologies Trading Down 0.4%

ARLO stock opened at $16.73 on Thursday. The stock’s 50 day simple moving average is $13.45 and its 200 day simple moving average is $11.96. Arlo Technologies, Inc. has a 12-month low of $7.84 and a 12-month high of $17.70. The stock has a market capitalization of $1.74 billion, a PE ratio of -76.05 and a beta of 2.01.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Arlo Technologies had a negative net margin of 4.29% and a negative return on equity of 21.67%. The firm had revenue of $119.07 million for the quarter, compared to the consensus estimate of $118.35 million. During the same period last year, the firm earned $0.09 EPS. The company’s revenue was down 4.1% on a year-over-year basis. On average, research analysts predict that Arlo Technologies, Inc. will post -0.29 earnings per share for the current year.

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.