Granite Investment Partners LLC Trims Position in Arlo Technologies, Inc. (NYSE:ARLO)

Granite Investment Partners LLC lessened its stake in shares of Arlo Technologies, Inc. (NYSE:ARLO) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,502,497 shares of the company’s stock after selling 160,402 shares during the period. Granite Investment Partners LLC owned 1.54% of Arlo Technologies worth $19,593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Jupiter Asset Management Ltd. purchased a new stake in Arlo Technologies in the 1st quarter valued at about $885,000. Charles Schwab Investment Management Inc. raised its holdings in Arlo Technologies by 6.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 948,042 shares of the company’s stock valued at $9,025,000 after buying an additional 58,620 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Arlo Technologies by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 65,686 shares of the company’s stock valued at $831,000 after buying an additional 6,757 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in Arlo Technologies in the 1st quarter valued at about $797,000. Finally, Inspire Investing LLC purchased a new stake in Arlo Technologies during the first quarter worth about $873,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ARLO shares. BWS Financial reiterated a “buy” rating and set a $24.00 price target on shares of Arlo Technologies in a research note on Friday, August 9th. Roth Mkm boosted their price target on shares of Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Insider Transactions at Arlo Technologies

In other Arlo Technologies news, Director Ralph E. Faison purchased 8,842 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $11.89 per share, with a total value of $105,131.38. Following the completion of the acquisition, the director now directly owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Arlo Technologies news, Director Ralph E. Faison purchased 8,842 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $11.89 per share, with a total value of $105,131.38. Following the completion of the acquisition, the director now directly owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy M. Rothstein sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $14.83, for a total value of $222,450.00. Following the completion of the transaction, the director now directly owns 75,032 shares of the company’s stock, valued at $1,112,724.56. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Arlo Technologies Stock Up 2.9 %

Shares of NYSE:ARLO opened at $11.66 on Friday. Arlo Technologies, Inc. has a 1 year low of $7.77 and a 1 year high of $17.64. The firm has a market capitalization of $1.14 billion, a PE ratio of -64.78 and a beta of 1.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.48 and a quick ratio of 1.23. The firm’s 50-day moving average is $13.18 and its two-hundred day moving average is $12.77.

Arlo Technologies (NYSE:ARLO) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Arlo Technologies had a negative return on equity of 20.75% and a negative net margin of 4.19%. The business had revenue of $127.45 million during the quarter, compared to the consensus estimate of $125.03 million. During the same period in the previous year, the company posted ($0.08) earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Analysts predict that Arlo Technologies, Inc. will post -0.4 EPS for the current year.

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.