Rhumbline Advisers Purchases New Position in Arlo Technologies Inc (NYSE:ARLO)

Rhumbline Advisers acquired a new position in Arlo Technologies Inc (NYSE:ARLO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,791 shares of the company’s stock, valued at approximately $148,000.

Several other hedge funds have also bought and sold shares of ARLO. FMR LLC purchased a new position in shares of Arlo Technologies in the 3rd quarter worth approximately $83,087,000. Primecap Management Co. CA bought a new stake in shares of Arlo Technologies in the 3rd quarter worth approximately $31,173,000. BlackRock Inc. bought a new stake in Arlo Technologies during the 3rd quarter valued at $14,298,000. Macquarie Group Ltd. bought a new stake in Arlo Technologies during the 3rd quarter valued at $12,500,000. Finally, Janus Henderson Group PLC bought a new stake in Arlo Technologies during the 3rd quarter valued at $12,324,000. 28.43% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Arlo Technologies from a “hold” rating to a “sell” rating in a report on Friday, March 15th. Imperial Capital lowered their target price on shares of Arlo Technologies from $29.00 to $7.50 and set an “outperform” rating on the stock in a report on Wednesday, February 6th. Cowen cut shares of Arlo Technologies from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $25.00 to $7.50 in a report on Wednesday, February 6th. Finally, Bank of America cut shares of Arlo Technologies from a “neutral” rating to an “underperform” rating in a report on Wednesday, February 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.60.

Shares of ARLO traded down $0.03 during mid-day trading on Friday, reaching $3.89. 405,762 shares of the stock traded hands, compared to its average volume of 896,229. The firm has a market capitalization of $288.85 million and a P/E ratio of -3.81. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.83 and a quick ratio of 1.39. Arlo Technologies Inc has a 1 year low of $3.37 and a 1 year high of $23.77.

Arlo Technologies (NYSE:ARLO) last announced its earnings results on Tuesday, February 5th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.04. Arlo Technologies had a negative net margin of 14.49% and a negative return on equity of 31.78%. The company had revenue of $129.30 million during the quarter, compared to analyst estimates of $128.58 million. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that Arlo Technologies Inc will post -1.59 earnings per share for the current year.

In other Arlo Technologies news, Director Ralph E. Faison purchased 50,000 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was acquired at an average cost of $4.24 per share, for a total transaction of $212,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Blake Mcrae purchased 45,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $4.46 per share, with a total value of $200,700.00. The disclosure for this purchase can be found here.

COPYRIGHT VIOLATION WARNING: “Rhumbline Advisers Purchases New Position in Arlo Technologies Inc (NYSE:ARLO)” was originally posted by Baseball Daily News and is the property of of Baseball Daily News. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.baseballdailydigest.com/news/2019/04/21/rhumbline-advisers-takes-position-in-arlo-technologies-inc-arlo.html.

Arlo Technologies Company Profile

Arlo Technologies, Inc provides smart connected devices to monitor the environments in real-time with a Wi-Fi or a cellular network Internet connection in the Americas, Europe, the Middle-East and Africa, and the Asia Pacific regions. It offers Arlo Security Camera, a battery-operated Wi-Fi security camera; Arlo Q and Arlo Q Plus, an indoor wired solution that allow users to monitor their surroundings; Arlo Pro, a battery-operated weather-resistant Wi-Fi camera; Arlo Go, an LTE-enabled wire-free camera that provides untethered mobile monitoring; and Arlo Baby, a baby monitor with air quality and temperature sensors, motion and audio detection, and advanced night vision.

Featured Article: What is the QQQ ETF?

Institutional Ownership by Quarter for Arlo Technologies (NYSE:ARLO)

Receive News & Ratings for Arlo Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arlo Technologies and related companies with MarketBeat.com's FREE daily email newsletter.