Hsbc Holdings PLC Raises Stake in Arlo Technologies, Inc. (NYSE:ARLO)

Hsbc Holdings PLC increased its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 9.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,470 shares of the company’s stock after buying an additional 1,103 shares during the quarter. Hsbc Holdings PLC’s holdings in Arlo Technologies were worth $140,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its position in shares of Arlo Technologies by 104.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,331 shares of the company’s stock valued at $26,000 after acquiring an additional 1,191 shares during the period. KBC Group NV raised its stake in shares of Arlo Technologies by 106.8% in the fourth quarter. KBC Group NV now owns 6,167 shares of the company’s stock valued at $69,000 after buying an additional 3,185 shares during the period. Ieq Capital LLC bought a new stake in shares of Arlo Technologies in the fourth quarter valued at $121,000. Hennessy Advisors Inc. lifted its position in shares of Arlo Technologies by 9.6% during the 4th quarter. Hennessy Advisors Inc. now owns 11,052 shares of the company’s stock valued at $124,000 after buying an additional 965 shares during the last quarter. Finally, Balboa Wealth Partners bought a new position in shares of Arlo Technologies during the 4th quarter worth $129,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Analyst Ratings Changes

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

Arlo Technologies Stock Performance

NYSE:ARLO opened at $12.43 on Monday. The business’s fifty day moving average is $10.03 and its 200 day moving average is $11.13. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -49.72 and a beta of 1.81. Arlo Technologies, Inc. has a 52-week low of $7.84 and a 52-week high of $17.64.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Arlo Technologies had a negative return on equity of 24.14% and a negative net margin of 4.76%. The firm had revenue of $119.07 million for the quarter, compared to analysts’ expectations of $118.35 million. During the same period in the prior year, the business posted $0.09 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Equities analysts predict that Arlo Technologies, Inc. will post -0.29 EPS for the current fiscal year.

Insider Activity at Arlo Technologies

In other Arlo Technologies news, CEO Matthew Blake Mcrae sold 26,435 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $11.50, for a total value of $304,002.50. Following the completion of the transaction, the chief executive officer now directly owns 3,205,132 shares of the company’s stock, valued at $36,859,018. This trade represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brian Busse sold 21,367 shares of the company’s stock in a transaction on 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 transaction, the general counsel now directly owns 656,785 shares in the company, valued at approximately $6,810,860.45. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,164,731 shares of company stock valued at $12,816,439. Corporate insiders own 5.20% of the company’s stock.

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.