Renaissance Technologies LLC Grows Stock Holdings in Arlo Technologies, Inc. (NYSE:ARLO)

Renaissance Technologies LLC boosted its holdings in Arlo Technologies, Inc. (NYSE:ARLO) by 12.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,414,400 shares of the company’s stock after buying an additional 154,100 shares during the quarter. Renaissance Technologies LLC owned approximately 1.45% of Arlo Technologies worth $18,444,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ARLO. Chilton Capital Management LLC purchased a new position in shares of Arlo Technologies in the 2nd quarter valued at about $33,000. GAMMA Investing LLC boosted its holdings in Arlo Technologies by 34.9% in the second quarter. GAMMA Investing LLC now owns 3,246 shares of the company’s stock valued at $42,000 after purchasing an additional 840 shares in the last quarter. CWM LLC increased its stake in Arlo Technologies by 90.5% in the second quarter. CWM LLC now owns 3,742 shares of the company’s stock valued at $49,000 after purchasing an additional 1,778 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Arlo Technologies during the second quarter worth approximately $62,000. Finally, Hennessy Advisors Inc. purchased a new stake in shares of Arlo Technologies during the 2nd quarter worth approximately $138,000. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Arlo Technologies Stock Performance

Shares of ARLO opened at $11.72 on Friday. The company’s 50 day simple moving average is $13.10 and its 200-day simple moving average is $12.77. The firm has a market cap of $1.14 billion, a PE ratio of -65.11 and a beta of 1.76. Arlo Technologies, Inc. has a 12-month low of $7.77 and a 12-month high of $17.64. The company has a current ratio of 1.48, a quick ratio of 1.23 and a debt-to-equity ratio of 0.16.

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

Analyst Ratings Changes

A number of research firms recently commented on ARLO. BWS Financial reaffirmed a “buy” rating and issued a $24.00 target price on shares of Arlo Technologies in a research report on Friday, August 9th. Roth Mkm raised their price objective on Arlo Technologies from $16.50 to $18.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

Insider Activity

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

Arlo Technologies 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.