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.
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.
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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.
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