GSA Capital Partners LLP Makes New Investment in Arlo Technologies, Inc. (NYSE:ARLO)

GSA Capital Partners LLP acquired a new stake in Arlo Technologies, Inc. (NYSE:ARLO) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 135,704 shares of the company’s stock, valued at approximately $1,339,000. GSA Capital Partners LLP owned 0.13% of Arlo Technologies as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Arlo Technologies in the first quarter valued at approximately $123,000. Allspring Global Investments Holdings LLC grew its stake in Arlo Technologies by 24.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 53,081 shares of the company’s stock valued at $518,000 after acquiring an additional 10,448 shares during the period. GAMMA Investing LLC grew its stake in Arlo Technologies by 40.9% in the first quarter. GAMMA Investing LLC now owns 7,212 shares of the company’s stock valued at $71,000 after acquiring an additional 2,095 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Arlo Technologies by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 720,618 shares of the company’s stock valued at $7,113,000 after buying an additional 15,811 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Arlo Technologies by 21.5% during the first quarter. SG Americas Securities LLC now owns 33,130 shares of the company’s stock valued at $327,000 after buying an additional 5,862 shares during the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Monday, June 9th.

Insider Buying and Selling

In related news, CEO Matthew Blake Mcrae sold 25,380 shares of Arlo Technologies stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $16.56, for a total transaction of $420,292.80. Following the sale, the chief executive officer directly owned 1,461,705 shares in the company, valued at approximately $24,205,834.80. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Brian Busse sold 21,367 shares of Arlo Technologies stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $10.37, for a total value of $221,575.79. Following the sale, the general counsel owned 656,785 shares in the company, valued at $6,810,860.45. This trade represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,589,422 shares of company stock worth $25,306,428. 5.20% of the stock is owned by company insiders.

Arlo Technologies Stock Up 1.1%

Shares of NYSE:ARLO opened at $16.28 on Thursday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -74.00 and a beta of 2.03. Arlo Technologies, Inc. has a 12-month low of $7.84 and a 12-month high of $17.98. The business’s 50 day moving average is $16.16 and its 200 day moving average is $12.78.

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

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.