Mutual of America Capital Management LLC Buys 590,778 Shares of Arlo Technologies, Inc. (NYSE:ARLO)

Mutual of America Capital Management LLC grew its stake in Arlo Technologies, Inc. (NYSE:ARLO) by 3,624.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 607,080 shares of the company’s stock after purchasing an additional 590,778 shares during the period. Mutual of America Capital Management LLC owned approximately 0.62% of Arlo Technologies worth $7,916,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ARLO. Chilton Capital Management LLC bought a new stake in shares of Arlo Technologies in the 2nd quarter valued at approximately $33,000. GAMMA Investing LLC lifted its stake in shares of Arlo Technologies by 34.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock worth $42,000 after acquiring an additional 840 shares during the last quarter. CWM LLC lifted its stake in shares of Arlo Technologies by 90.5% during the 2nd quarter. CWM LLC now owns 3,742 shares of the company’s stock worth $49,000 after acquiring an additional 1,778 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Arlo Technologies during the 2nd quarter worth approximately $62,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Arlo Technologies during the 2nd quarter worth approximately $138,000. 83.18% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ralph E. Faison acquired 8,842 shares of Arlo Technologies stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $11.89 per share, for a total transaction of $105,131.38. Following the acquisition, the director now directly owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ralph E. Faison purchased 8,842 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $11.89 per share, for a total transaction of $105,131.38. Following the acquisition, the director now owns 385,599 shares of the company’s stock, valued at approximately $4,584,772.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy M. Rothstein sold 15,000 shares of Arlo Technologies stock in a transaction 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 owns 75,032 shares in the company, valued at $1,112,724.56. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ARLO has been the subject of a number of research analyst reports. BWS Financial reissued 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 raised their price target on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd.

Arlo Technologies Trading Up 2.9 %

ARLO opened at $11.66 on Friday. The stock’s fifty day moving average is $13.18 and its two-hundred day moving average is $12.77. The company has a market capitalization of $1.14 billion, a P/E ratio of -64.78 and a beta of 1.76. Arlo Technologies, Inc. has a 52 week low of $7.77 and a 52 week high of $17.64. The company has a quick ratio of 1.23, a current ratio of 1.48 and a debt-to-equity ratio of 0.16.

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